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Merck (MRK) stock jumped more than 5% Tuesday as the company led a trio of big pharmas reporting first-quarter earnings, bolstered by good news on its diabetes franchise. Merck reported earnings of 85 cents a share, down 3% from the year-earlier quarter but 10 cents better than analysts’ consensus. Sales shrank 8% to $9.43 billion, beating consensus by nearly $400 million. Investors were also in a buoyant mood after Merck announced late Monday Scalper1 News
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