Merck & Co., Inc. (MRK: Quote) gained over 2 percent to $42.14. The company announced that the Data Monitoring Committee for the Phase III trial assessing fracture risk reduction with odanacatib recently completed its first planned interim analysis for efficacy and recommended that the study be closed early due to robust efficacy and a favorable benefit-risk profile.
Marriott International, Inc. (MAR: Quote) fell 2 percent to $37.27. The company's second quarter profit improved from the prior year period. However, total revenues declined from the year-ago quarter and also missed the consensus estimate.
SUPERVALU Inc. (SVU: Quote) declined 25 percent to $3.97. The company's first quarter profit and sales declined from the previous year period. The company announced that it is reviewing strategic alternatives for its business. The company also intends to achieve an additional $250 million in administrative and operational expense reductions over the next two years. In addition, the company stated that it is suspending the quarterly dividend.
Calix, Inc. (CALX: Quote) declined nearly 24 percent to $4.94. The company lowered its second quarter revenue and earnings forecast citing softness in demand across multiple customer markets which it believes is due to a slowdown in capital expenditures by service providers concerned about macro-economic conditions and uncertainties associated with the implementation of regulatory reforms.
Callaway Golf Co. (ELY: Quote) fell 6 percent to $5.32. The company announced the implementation of cost-reduction initiatives including a 12 percent reduction in workforce. The company said it no longer expect that its 2012 full year financial results will be significantly better than last year, given the slower than anticipated pace of recovery.
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by RTT Staff Writer
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