In a news release, the company says the job cuts of about 8,500 are part of "a global initiative to sharpen its commercial and research and development (R&D) focus."
Merck, based in Whitehouse Station, N.J., expects to save about $2.5 billion in annual net costs by the end of 2015. It expects to realize $1 billion of those savings by the end of 2014.
For Merck, it's job cuts on top of job cuts. The 8,500 jobs to be eliminated are in addition to the 7,500 positions Merck already has announced, the company said in its news release.
"These actions will make Merck a more competitive company, better positioned to drive innovation and to more effectively commercialize medicines and vaccines for the people who need them," said Kenneth C. Frazier, chairman and chief executive officer, in a statement. "Today's announcement further underscores that we are committed to improving our performance in the short term while also investing for the long term to create value for patients, customers and shareholders."
Hot Long Term Stocks To Own For 2015: Susquehanna Bancshares Inc.(SUSQ)
Susquehanna Bancshares, Inc., through its subsidiaries, provides retail and commercial banking, and financial services in the mid-Atlantic region. Its retail banking services include checking, savings, and club accounts, as well as check cards, debit cards, money market accounts, certificates of deposit, individual retirement accounts, home equity lines of credit, residential mortgage loans, home improvement loans, automobile loans, personal loans, and Internet banking services. The company?s commercial banking services comprise business checking accounts, cash management services, money market accounts, land acquisition and development loans, commercial loans, floor plan, equipment and working capital lines of credit, small business loans, and Internet banking services. It also offers commercial, property, and casualty insurance; and risk management programs for medium and large sized companies. In addition, it provides traditional trust and custodial services, as well a s acts as an administrator, executor, guardian, and managing agent for individuals, businesses, and non-profit entities. Further, the company offers investment advisory, asset management, and brokerage services for institutional and high net worth individual clients; and provides retirement planning services. Additionally, it engages in the equity management of assets for institutions, pensions, endowments, and high net worth individuals; and provides consumer vehicle financing services. The company operates 221 branches and 26 free-standing automated teller machines. Susquehanna Bancshares, Inc. was founded in 1982 and is based in Lititz, Pennsylvania.
Advisors' Opinion:- [By Rich Duprey]
Financial services holding company�Susquehanna Bancshares (NASDAQ: SUSQ ) announced yesterday its third-quarter dividend of $0.08 per share, the same rate it paid last quarter after raising the payout 14%, from $0.07 per share.
Hot Long Term Stocks To Own For 2015: Iridium Communications Inc(IRDM)
Iridium Communications Inc. provides mobile voice and data communications services through satellites to businesses, the U.S. and foreign governments, non-governmental organizations, and consumers worldwide. It offers post-paid mobile voice and data satellite communications services; prepaid mobile voice satellite communications services; high-speed data services; machine-to-machine services for sending and receiving data from one location to other; and ancillary services, including inbound connections from the public switched telephone networks, SMS, SIM, activation, customer reactivation, and other peripheral services to commercial customers. The company also offers traditional voice, netted voice, data, messaging, and paging services, as well as maintenance services for the DoD?s dedicated gateway; and offers voice and data solutions, including personnel tracking devices; over-the-horizon aircraft communications applications; submarine communications applications; spec ialized communications solutions for high-value individuals; asset tracking devices for equipment, vehicles, and aircraft; and secure mobile communications and data devices for the military and intelligence community, such as secure satellite handsets to U.S. government customers. In addition, it manufactures and sells satellite handsets, voice and data modems, high-speed data devices, and machine-to-machine data devices. Further, the company offers accessories for its devices, including holsters, earbuds, portable auxiliary antennas, antenna adaptors, USB data cables, and charging units. Additionally, it provides engineering and support services to commercial and government customers. The company sells products and services to commercial end-users through service providers, value-added resellers, and value-added manufacturers. As of March 31, 2011, it had approximately 447,000 billable subscribers. The company was founded in 2000 and is headquartered in McLean, Virginia.
Advisors' Opinion:- [By John Udovich]
The Iridium Communications, Inc. (NASDAQ: IRDM) fiasco about a decade ago might offer investors a cautionary tale about getting into small cap in-flight wifi stock Gogo, Inc. (NASDAQ: GOGO) too soon. Moreover, Gogo, Inc. just had an IPO, but Mad Money’s Cramer recently described that IPO as “horrible” and that "it's still bad” plus there are some issues with the company's in-flight wifi service itself.
- [By Jake L'Ecuyer]
Telecommunications services sector gained 0.12 percent in the US market today. Among the sector stocks,Iridium Communications (NASDAQ: IRDM) was down more than 4.5 percent, while America Movil S.A.B. de C.V. (NYSE: AMX) tumbled around 2.3 percent.
- [By John Udovich]
Jim Cramer, the host of CNBC�� Mad Money, recently touted ViaSat, Inc (NASDAQ: VSAT) as an in-flight WiFi or satellite communications related play, meaning its worth taking a closer look at the stock along with the performance of small cap in-flight WiFi provider Gogo Inc (NASDAQ: GOGO) and small cap satellite communications firm Iridium Communications Inc (NASDAQ: IRDM). I should mention that I have written about Gogo Inc in the past (Small Cap Gogo Inc (GOGO): Is There Turbulence Ahead? IRDM�and Is In-flight WiFi Stock Gogo, Inc. (GOGO) the Next Iridium?) and Cramer also touched on some of the differences between the in-flight wifi service offerings of both. Cramer also interviewed ViaSat, Inc�� CEO who said they had been waiting for a new satellite to ��isrupt��the market.
Hot Construction Companies To Invest In 2015: Wipro Limited(WIT)
Wipro Limited provides information technology (IT) products and services, consumer care and lighting products, and infrastructure engineering services primarily in India, the United States, and Europe. The company?s IT Services segment offers IT and IT enabled services, including software application development, application maintenance, research, and development services for hardware and software design, data center outsourcing services, and business process outsourcing services. Its IT Products segment produces and sells a range of Wipro personal desktop computers, Wipro servers, and Wipro notebooks. This segment also operates as a reseller of desktops, servers, notebooks, storage products, networking solutions, and packaged software for various international brands. The company?s Consumer Care and Lighting segment manufactures, distributes, and sells personal care products, baby care products, lighting products, and hydrogenated cooking oils in India and rest of Asia. Wipro Limited also manufactures and sells hydraulic cylinders, truck cylinders, and their components and solutions to original equipment manufacturers, as well as provides water treatment systems and solutions. The company was founded in 1945 and is headquartered in Bangalore, India.
Advisors' Opinion:- [By Brian Stoffel]
That helps explain why Accenture and IBM,�the industry's two biggest players, have been able to gobble up so much market share. But there's a second tier of technology-consultants -- in terms of sheer size -- as well. That's where Cognizant, as well as its main competition --�Infosys (NYSE: INFY ) and Wipro (NYSE: WIT ) �-- come in to play.
Hot Long Term Stocks To Own For 2015: Entergy Arkansas Inc (EAA)
Entergy Arkansas, Inc. (Entergy Arkansas) generates, transmits and distributes electric power primarily to retail customers in Arkansas. Entergy Arkansas holds franchises to provide electric service in approximately 307 incorporated cities and towns in Arkansas. On November 30, 2012, the Company purchased a Hot Spring Energy Facility.
The Company owns and operates, through an affiliate, the ANO 1 and ANO 2 nuclear power plants. The Company is a wholly owned subsidiary of Entergy Corporation (Entergy).
Advisors' Opinion:- [By maarnio]
Spectral is focused on the development and commercialization of a treatment for severe sepsis utilizing its Endotox in Activity Assay (EAA) and the Toraymyxin therapeutic (PMX). If approved, this will be the first theranostics product, a targeted therapy guided by a specific diagnostic, in the area of sepsis. The company also manufactures and sells certain proprietary reagents.
Hot Long Term Stocks To Own For 2015: BofI Holding Inc.(BOFI)
BofI Holding, Inc. operates as the holding company for BofI Federal Bank that provides various consumer and wholesale banking services primarily through the Internet in the United States. It accepts various deposit products, including demand deposit, savings, and certificates of deposit accounts. It also provides loan products, which consist of single family loans, home equity loans, multifamily loans, commercial real estate loans, recreational vehicle and automobile loans, and overdraft lines of credit In addition, the company offers online bill payment, interbank transfer, mobile banking, text message banking, ATM cards or VISA debit cards, and overdraft protection services. It serves approximately 36,000 retail deposit and loan customers across 50 states. BofI Holding, Inc. was incorporated in 1999 and is based in San Diego, California.
Advisors' Opinion:- [By John Maxfield]
In this day and age of Internet and mobile banking, it's imperative that the nation's traditional banks make progress on these fronts lest competitors like Bank of Internet (NASDAQ: BOFI ) continue to take market share. Just since 2008, for instance, Bank of Internet has nearly doubled the size of its balance sheet as customers flock to its above-average savings account yields.
- [By Wallace Witkowski]
H&R Block (HRB) �shares rose 7.3% to $30.50 on moderate volume after the firm said it agreed to sell certain bank assets and liabilities to BofI Federal Bank for an undisclosed price. The deal should dilute fiscal 2015 earnings by 7 cents to 9 cents a share, H&R Block said. Shares of BofI Holding Inc. (BOFI) rose 10% to $82 in light volume.
- [By John Reese]
BofI Holding, Inc. (BOFI) is a newcomer to the Validea Hot List; the stock gets high scores from my Peter Lynch- and Motley Fool-based models, as well as my Momentum Investor approach.
- [By Matt Koppenheffer]
"Financial innovation" has become a four-letter word after the financial crisis, with many exotic financial instruments sending tidal waves of risk through a shaky system. However, Bank of The Internet (NASDAQ: BOFI ) has tackled this bloated industry with innovation of a different sort: an online-only bank. Their branchless operation has dramatically increased their loans since inception and has some eye-popping potential.�
No comments:
Post a Comment