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Merck Cuts Forecast For FY 2011

Merck reported better-than-expected fourth-quarter sales and earnings but cuts its forecast for FY 2011. It posted a fourth-quarter loss of $500 million, or 17cents per share. Excluding one-time items, Merck earned 88 cents per share in the quarter. Merck said it expects full-year 2011 earnings of $3.64 to$3.76 per share which is below estimates of $3.82 per share by Wall Street.