This MSNBC article reports the announcement of Merck & Co. about earnings to rise between 5 percent and 9 percent in 2004. Is this good sign or bad for future business?

"That’s slightly below the average 2004 earnings forecast of $3.18 a share from analysts polled by Reuters Research, a unit of Reuters Group Plc.

However, Merck said its expected 2004 profit range includes the costs of additional cost-cutting, on top of 4,400 jobs already slashed.

The company also reiterated a 2003 forecast from October, when it said its 2003 operating profit would fall 6 to 8 percent to between $2.90 and $2.95 per share."