This ought to make Schering’s call interesting. Merck has elected to let Schering-Plough “go first” — in announcing Third Quarter 2008 results. Then, the next morning, on October 22, 2008, Merck will announce its results and update the guidance it suspended, and withdrew after the SEAS trial top-line results were announced — back on July 21, 2008.
Schering won’t be able to hide behind Richard Clark’s Italian-cut, pin-striped, double-breasted, big-shouldered suits much longer, now. From Merck’s release:
. . . .During the [9:00 a.m. EDT, October 22, 2008] call, Richard T. Clark, chairman, president and chief executive officer, Peter N. Kellogg, executive vice president and chief financial officer, and Kenneth C. Frazier, executive vice president and president, Global Human Health, will provide an overview of Merck’s financial performance for the quarter plus 2008 and 2010 financial guidance. . . .
Interestingly, per the above, Merck will conduct its call during the NYSE trading day — suggesting either that (1) Merck will want the markets to be able to react, in real time, to some fundamentally important news (more likely, in my estimation) — or, (2) Merck does not expect the call to be Earth-shatteringly-material (less likely, IMO). Either way, Schering has scheduled its for before NYSE market open (per its usual practice), on October 21, 2008. It should all be rather droll — so circle both mornings in red, on your calendars. I know I have.
And what of those Cholesterol Joint Venture Agreement Amendments Schering apparently never bothered to file with the SEC, as required by Instruction 2 to Item 601 on SEC Regulation S-K?
Wow. Pop-up some Jiffy-Pop popcorn!