Merck Recall Seen Hitting Stocks at Open By Michael Flaherty NEW YORK (Reuters) - Stocks looked to open lower on Thursday after drug company Merck & Co.(MRK.N: Quote , Profile , Research ) said it was recalling a key drug, sending Dow Jones industrial futures tumbling. Dow component Merck said it is withdrawing arthritis drug Vioxx globally following indications after a colon cancer trial confirmed long-standing concerns the drug raises the risk of heart attack and stroke. After the announcement, S&P 500 futures were down 1 point, below fair value accounting for interest rates, dividends and time to expiration on the contract, indicating the market would open lower. Dow Jones industrial index futures plunged 51 points, while Nasdaq 100 futures fell a point. The futures had pointed broadly higher throughout the morning before the Merck news. "The Merck news really put a damper on the market," said John Person, head financial analyst at Infinity Brokerage Services. Shares of Merck fell $8.87, or 19.6 percent, to $36.20 in pre-market trade on the INET electronic brokerage system. The stock of competitor Pfizer rose $1.62, or 5.37 percent, to $31.80. Merck's news overshadowed a flurry of economic data. The number of Americans seeking initial jobless benefits jumped by 18,000 last week to 369,000, the government said on Thursday, but it attributed the entire rise to the effects of hurricanes that have battered the southern United States. First-time claims for state unemployment insurance rose for the third straight week, climbing to 369,000 in the week ended Sept. 25 from a revised 351,000, the Labor Department said. The rise defied Wall Street economists' expectations for a fall to 340,000 from the prior week's original measure of 350,000.     Continued ... Quelle "Merck Recall Seen Hitting Stocks at Open" : reuters.com Main page for "Merck Recall Seen Hitting Stocks at Open"