Merck & Co.?(NYSE:MRK): Current price $41.40
The firm?has finished a preliminary?evaluation of the impact of the Venezuelan government?s plan to devalue its currency effective Wednesday. As a result of the move, Merck will incur a one time after-tax loss due to foreign exchange of about 5 cents?per share in the first quarter connected to the remeasurement of the local balance sheet at the date of the devaluation. What is more, the company anticipates that the impact of the devaluation on ongoing operations should be roughly 2 cents?per share, spread over the balance of the year. However, the effects of the devaluation do not?alter Merck?s full year 2013 GAAP or full year non-GAAP EPS guidance ranges.
Merck now agrees in principle with plaintiffs in settling two federal securities class-action lawsuits that are pending in the?United States?District Court for the District of New Jersey against Merck, Schering-Plough Corporation and certain current and?previous officers and directors. Through the terms, which will have no impact on Merck?s 2013 results of operations, it will pay $215 million?to resolve the securities class action against all of the Merck defendants and $473 million?to settle the securities class action against all of the Schering-Plough defendants.
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