A day after drugmaker Merck & Co. completed its $41.1 billion purchase of rival Schering-Plough Corp., Fitch Ratings Service on Wednesday cut its ratings on Merck and upgraded Schering-Plough.

The new Merck becomes the world's second-biggest drugmaker overnight, and it's boasting a fat wallet to fund future deals.

The new Merck & Co. has become the world's second-biggest drugmaker overnight with a huge acquisition, but it still has a fat wallet and plans more wheeling and dealing.

U.S. regulators have refused to accept drugmaker Merck & Co.'s application for a new, combination cholesterol pill that includes rival Pfizer's Lipitor, the world's top-selling drug.

Schering-Plough Corp. said its experimental hepatitis C drug boceprevir helped eliminate the virus in about half of patients who did not respond to standard treatments.

Biotechnology giant Amgen Inc and drug wholesaler AmerisourceBergen Corp were sued on Friday by 14 U.S. states and the District of Columbia over an alleged kickback scheme designed to boost sales of Amgen's popular anemia drug, Aranesp.

Merck & Co. is set to complete its $41 billion acquisition of Schering-Plough Corp. later Tuesday, creating the world's second-largest drugmaker, behind Pfizer Inc.

Standard & Poor's said Thursday it will add miner Freeport-McMoRan Copper & Gold Inc. to its S&P 100 index to replace Schering-Plough Corp., after the drugmaker merges with Merck & Co. in a deal expected to be completed soon.

Time Warner Inc. on Thursday named the chief executive of Schering-Plough Corp. to its board.

Stocks relinquished earlier gains Friday as investors began to lock in some profits after an earnings-fueled rally this week.

Stocks relinquished earlier gains Friday as investors began to lock in some profits after an earnings-fueled rally this week.

Tech stocks shot out of the gate Friday after Microsoft and Amazon blew past earnings expectations. The Dow was up a few points at the start but the tech-heavy Nasdaq jumped 1 percent as Microsoft gained 10 percent and Amazon soared 20 percent.

A late Thursday rally puts Wall Street on pace to chalk up its third consecutive week of gains, but as always, the positive momentum is subject to the whims of earnings and economic numbers once again this morning. 

U.S. drugmaker Merck & Co's $41.1 billion takeover of smaller rival Schering-Plough won approval from European Union antitrust regulators Friday.

What follows is a roundup of corporate earnings reports for Thursday, Oct. 22.