German Merck Hikes Its 2013 Profit Projection and 2 Other Dow Movers to Watch
Merck & Co. Inc. (NYSE:MRK): Current price $47.79
Merck’s German arm Merck KGaA, which manufactures the cancer drug Erbitux, has raised its profit projection for the year, because cost reductions are taking effect more quickly than was planned. Earnings before interest, taxes, depreciation, amortization and some one-time items will now likely come to between 3.2 billion euros, or $4.3 billion, and 3.25 billion euros versus a prior forecast range of 3.1 billion euros to 3.2 billion euros, according to a Thursday statement from Darmstadt. On that basis, the division’s third-quarter EBITDA rose by 10 percent to 830.7 million euros, surpassing the 806.7 million euros average of 11 analyst estimates.
The Goldman Sachs Group Inc. (NYSE:GS): Current price $163.45
Several inside sources report that Goldman Sachs has lost a minimum of nine managing directors in Brazil in 2013, while revenue from investment banking slides, and trading and wealth-management fees rise. The chief the firm’s of Latin American equity research Jason Mollin is exiting, according to the people, who went on to say that already gone are Rodrigo Mello from the investment-banking division, Chief Investment Officer Sylvio Castro at the private-banking unit, and Eduardo Adriano Koelle from wealth management. Those four executives have joined five others who left earlier this year as the bank halted its growth plans in Brazil when the economy expanded more slowly than analysts had projected and merger growth stalled out.
E.I. DuPont de Nemours & Co. (NYSE:DD): Current price $61.57
Dupont has debuted a new range of HOWARU Protect probiotics that are clinically documented to retain natural immune defenses. The three formulations, HOWARU Protect Kids, HOWARU Protect Adult, and HOWARU Protect Sport, are for children, adults and sports enthusiasts respectively. The Protect formulations are clinically evaluated and proven to deliver the required immune support. HOWARU Protect products are available to dietary supplement, diary, food, and beverage manufacturers.
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