US STOCKS-Wall St shares jump on deal news, earnings

(Reuters) - Merck & Co. , a Dow component, reported quarterly
results above analysts' expectations. Also on Monday Transocean
Inc. , the world's largest offshore driller, said it had
agreed to buy drilling rig operator GlobalSantaFe Corp.
For details, see [ID:nN23380261].




Also boosting stocks was news of nearly $1 drop in crude
oil futures, pushing New York oil prices back below $75 a
barrel. The decline in oil underpinned gains by big
manufacturers such as 3M Co. , whose stock rose 1.1
percent to $91.23.


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UPDATE 1-Merck profit jumps, raises forecast

(Reuters) - NEW YORK, July 23 - Merck & Co. said on Monday that quarterly earnings rose 12 percent on strong demand for its newer vaccines and medicines, and raised its 2007 profit forecast, sending its shares up 4 percent.



Second-quarter net income rose to $1.68 billion, or 77 cents per share, from $1.5 billion, or 69 cents per share, a year earlier.


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UPDATE 1-Merck submits application for new Gardasil use

(Reuters) - Gardasil is approved as a vaccination against four strains of the human papillomavirus, or HPV, including those considered responsible for roughly 70 percent of cervical cancer.

Merck said its new submission includes efficacy data showing some protection against additional cervical cancer-causing HPV types, and data on protection against vaginal and vulvar cancers.


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