Merck & Co., Inc. Falters After Q4 Report

Merck & Co., Inc. MRK shares are trading lower by $1.65 at $48.76 in Wednesday's session. Despite a Q4 EPS beat of $0.02 with slightly lower revenues, the Street is focusing on its lower FY 2016 outlook for EPS and revenues.

After a lower open, it found resistance just above the lower end of Tuesday's range ($49.90), reaching $50.10 before resuming its decline. The ensuing decline has taken the issue beyond its former low of the move ($48.98), reaching $48.68 before rebounding back towards the $49 level.

If the decline continues through the current low, there may be additional support at its October 2 low ($48.35).