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Merck & Co. (NYSE:MRK): Current price $41.17
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.
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