Rim Semiconductor Company (fka RSMI)

[mayu]

OT,
I am sure glad I sold this before today. The last time I checked it was down over $12.00.

CNBC Market Dispatches 9/30/2004 12:24:55 PM ET
Merck makes a mess of the Dow
Vioxx recall sends the Dow components shares down 26%. Jobless claims jump, but Chicago PMI is strong. Was the Dow reshuffle the right decision?

Drug maker Merck blindsided the Dow this morning, announcing a complete withdrawal of its blockbuster arthritis treatment Vioxx.

Merck plunged 26%, losing about $25 billion in market capitalization, after the company said a clinical trial demonstrated that use of Vioxx increased the risk for heart attacks and strokes. Vioxx was launched in 1999 and had $2.5 billion in sales in 2003. Merck said the withdrawal will hurt annual earnings by 50 cents to 60 cents per share. The company previously forecast a 2004 profit of $3.11 to $3.17 per share.Check out your options.
Find the best rate
before you borrow.



If it wasn’t for Merck, the Dow would be close to unchanged, just like the Nasdaq composite. Instead the blue-chip index is down 80.82 to 10,055.42. Merck accounts for 3.27% of the Dow. To calculate the drug maker’s effect on the index simply multiply by seven, so Merck’s midday drop of $11.80 is pulling the Dow down more than 82 points.