News Summary

Shares of Merck & Co MRK lost about 1% after the company named Kenneth Frazier as the company's new Chief Executive Officer (CEO). Frazier will succeed Richard Clark as company's CEO. William Harrison, Merck's lead director said, “With his understanding of the global health-care environment, the board is confident in Ken's ability to take the helm at Merck and guide the continued implementation of our long-term strategy.” Crude oil futures declined and gold futures moved up, due to European debt concerns. Crude oil for January delivery declined 0.9% to $84.93 per barrel. However, Gold futures for December moved up 1.3% to $1,383.20 an ounce. Shares of Lowe's Companies Inc LOW fell about 1.8% after the company affirmed its 2010 EPS guidance of $1.37 to $1.40, 1% to 2% growth in same-store sales, along with 3% to 4% growth in total sales. However, analysts estimated 2010 EPS of $1.41. Read more from Benzinga's Markets.