GLOBAL MARKETS-U.S. stocks advance on results, M&A deals

(Reuters) - NEW YORK, July 23 - U.S. stocks rose on Monday,
as better-than-expected profits from Merck & Co. and a nearly
$18 billion takeover in the oil services industry reassured
investors, while Treasuries eased on the respite from risk
aversion over fears about the subprime credit market.




The fall in U.S. government bond prices pulled benchmark
yields back from recent six-week lows, while the dollar was
little changed and within striking distance of a record low
against the euro hit overnight.


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U.S. Stocks Gain on M&A; GlobalSantaFe, Transocean, Merck Shares Advance

(Bloomberg) -- U.S. stocks gained after $35 billion
in acquisitions allayed concern that this year's record pace of
takeovers will slow and Merck & Co.'s earnings topped analysts'
estimates.

GlobalSantaFe Corp., the world's second-biggest offshore
oil and gas driller, climbed to a record after agreeing to be
bought by larger rival Transocean Inc. Merck jumped the most in
more than three months and accounted for almost a third of the
Dow Jones Industrial Average's advance.


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US STOCKS-Indexes rise on deals, drug company profits

(Reuters) - NEW YORK, July 23 - U.S. stocks advanced on
Monday as deal news, including a takeover in the oil services
industry worth nearly $18 billion, and strong pharmaceutical
sector profits reassured investors after Friday's sell-off.




Schering-Plough Corp. and Merck & Co. , a
Dow component, both reported quarterly results above analysts'
expectations.


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US STOCKS-Futures rise on deals, profits; Merck gains

(Reuters) - NEW YORK, July 23 - U.S. stock futures rose on
Monday as deal news and stronger-than-expected profits from
drug maker Merck & Co. and others eased anxiety about
earnings, which led to Friday's sell-off.




In one of the deals, GlobalSantaFe Corp and
Transocean Inc. said they had agreed to a combination
that would create an offshore oil drilling company worth about
$53 billion. For details, see [ID:nN23380261]. Shares of
Transocean were up 7.3 percent in electronic trading before the
open.


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U.S. Stock-Index Futures Are Little Changed; Merck Advances in Europe

(Bloomberg) -- U.S. stock-index futures were little
changed before companies including Merck & Co., the third-largest
U.S. drugmaker, and American Express Co. report earnings.

Shares of Merck rose in Germany, while American Express
didn't trade in Europe. Tellabs Inc. surged after Thestreet.com
said Nokia Siemens Networks may bid for the maker of equipment
for phone and Internet systems. Pharmaceuticals company Schering-
Plough Corp. declined.


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Moody's weighs ratings as drug-patent lapses near

(Reuters) - Eli Lilly and Co. , Pfizer Inc. and
Bristol-Myers Squibb Co. are particularly vulnerable to
the downgrades because the top-selling drug of each expires in
that period.




Merck & Co. could also be adversely affected as two
of its important drugs face patent expirations.


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