10-30-2017, 09:23 AM
(10-30-2017, 09:04 AM)Rasec Wrote: I own MRK, bought at $51 and change a while back, still haven't figured out why the sharp decline, will see if it's worth adding more.
Any ideas?
Merck & Co. said a cyberattack over the summer caused temporary production shutdowns and cut sales by at least $135 million in the third quarter, highlighting the very-real impacts virtual attacks can have on company results.
The company posted a loss of $56 million, or 2 cents a share, compared with a profit of $2.18 billion, or 78 cents a share, in the same quarter last year. On an adjusted basis, excluding certain items, earnings per share rose to $1.11 from $1.07.
That's the news that started the downfall.