AP - Drugmaker Merck & Co. on Friday reported a 52 percent drop in second-quarter net income, weighed down by big restructuring charges from buying Schering-Plough Corp., generic competition and other factors.
Reuters - President Barack Obama said on Friday he welcomed news that the U.S. economy grew by 2.4 percent in the second quarter, but said more work was needed to increase that growth rate and generate jobs.
Reuters - U.S. stocks closed little changed on Friday, but Wall Street wrapped up its best month in a year after the earnings season rounded the final turn with a group of strong results that offset the impact of poor economic data.
AFP - The IMF on Friday lowered its 2011 growth forecast for the Spanish economy to 0.6 percent from the 0.9 percent it foresaw in April and warned the recovery "is likely to be weak and fragile."
AFP - US economic growth slowed dramatically to 2.4 percent in the second quarter of this year, the Commerce Department said Friday, stoking fears that the recovery is losing steam.
Reuters - Merck and Co issued a more cautious 2010 profit outlook on Friday and reported disappointing second-quarter sales of its vaccines and Singulair asthma drug, sending its shares down 2 percent.
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