The amount involved is so small, I think they sent a strong negative signal to the market for not a lot of money.

If not for the strong earnings, I think the market would be a lot weaker than it is. But that's not enough to lift the market out of a trading range. There's just too much uncertainty for markets to move higher.

It has certainly sent many negative signals not only here but internationally.

Merck is trying to send a very strong signal out there: 'Don't think you're going to toss you're hat in the litigation game and wait a couple months and we're going to toss you some money,' ... They're saying, 'If you're going to play the litigation game, you better be serious.'

To me, the most important thing is that management sent a very clear signal to the Street that they are refocusing and making an effort to return their focus to improving the return on capital. They understand their problems and they are putting in place a system to make those problems disappear.

We're sending a strong and clear signal