Yesterday proved to be a mixed day for U.S. equities as oil lost 2.2%, while consumer discretionary stocks gained 0.4%. The S&P 500 Index was unchanged, the Dow Jones Industrial Average fell 0.2% and the Nasdaq Composite gained 0.4%.
It was a busy afternoon after the bell as two stocks rose late Wednesday in Merck & Co., Inc. (NYSE:MRK) and United Continental Holdings Inc (NYSE:UAL), while one was slumping in Parsley Energy Inc (NYSE:PE).
Here’s what you should know:
Merck & Co., Inc. (MRK)
Merck shares were better after the company released an update.
This particular move was regarding the company’s priority review for a lung cancer application. The company said the Food and Drug Administration (FDA) will grant the priority review.
Merck said that the treatment in question is Keytruda, which is a first-line way of helping to ameliorate lung cancer. It works alongside chemotherapy, with the decision date on the application set at May 10.
Dr. Roger Dansey, senior vice president and therapeutic area head of the company’s oncology late-stage development, Merck Research Laboratories said that the company is using monotherapy and combination studies to find new approaches to help patients with lung cancer.
The treatment will help a wide array of types of lung cancer, not just one.
MRK stock grew 3.5% after hours Tuesday.