Merck's quarterly profit declined to $1.12 billion, or $0.38 per share, down from $1.73 billion, or $0.56 per share, in the year-earlier quarter. Its adjusted earnings fell to $0.92 per share from $0.95 per share.
Its sales dropped to $11.03 billion from $11.49 billion. However, analysts were estimating earnings of $0.87 per share on revenue of $11.1 billion. Merck now expects 2013 adjusted earnings of $3.48 to $3.52 per share, versus its earlier forecast of $3.45 to $3.55 per share.
Equities Trading UPCommodities
In commodity news, oil traded up 0.57 percent to $98.41, while gold traded up 0.44 percent to $1,358.40.
Silver traded down 0.17 percent Monday to $22.60, while copper fell 0.05 percent to $3.27.
The pending home sales index declined 5.60 percent in September. The Dallas Fed general business activity index declined to 3.60 in October, versus a prior reading of 12.80. However, economists were expecting a reading of 10.00. The Treasury is set to auction 2-year notes.
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