New York, Feb 9, 2026, 19:02 EST — After-hours
Merck & Co (MRK) slipped $4.32, or 3.5%, to finish at $117.65 Monday. The stock barely budged in after-hours trading. During the session, shares swung between $116.99 and $122.12. Trading volume landed at roughly 16.2 million shares.
That shift has put Merck behind, with the market turning back toward risk. When the tape swings to tech and cyclical stocks, drug shares like Merck often see investors cash out profits fast.
The S&P 500 and Nasdaq closed in the green, tech shares driving the gains, though healthcare stocks in the S&P 500 slipped 0.86%. “You’ve a sharply oversold market where a little bit of good news can go a long way,” said Keith Lerner, chief investment officer at Truist Advisory Services. Investors are now eyeing Wednesday’s postponed January payrolls release and the CPI due Friday. 1
Earlier in the session, Merck and Amgen weighed heavily on the Dow, chipping away at the index’s upside while the rest of the market moved higher. 2
Merck’s executive vice president and general counsel, Jennifer Zachary, exercised her stock options and sold 121,573 shares on Feb. 9, according to a U.S. SEC Form 4 filing. The shares fetched a weighted-average price of $119.1522. Following these moves, Zachary’s direct stake stood at roughly 68,916 shares, the filing said. 3
Still, insider selling typically comes down to options being exercised or just portfolio diversification — not necessarily a read on Merck’s outlook. What matters more for Merck is if fresh drugs and expanded uses for its current lineup can keep the growth story alive, even as aging products run into stiffer competition.
Merck & Company, Inc. keeps riding hard on its cancer immunotherapy Keytruda. When regulators weigh in on new label expansions, sentiment can shift, regardless of any immediate earnings impact. Still, investors want to see clearer signs the pipeline can push revenue past just that flagship drug.
Circle Feb. 20: that’s when the FDA is expected to rule on Merck’s bid to expand Keytruda’s label for use with chemo, with or without bevacizumab, in some patients with platinum-resistant recurrent ovarian cancer. Merck still maintains Keytruda isn’t approved for ovarian cancer. That PDUFA date marks the agency’s decision window—delays do happen—but for traders, it’s a clear-cut event. 4
