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Ariel International Fund climbed +21.50% during the quarter, exceeding the MSCI EAFE and MSCI ACWI ex-US indices, which returned +10.82% and +14.49%, respectively. We initiated eight new positions during the quarter. We bought Vanguard FTSE Developed Markets ETF as a cash alternative.

Merck KGaA (MKKGY) Q2 2026 Earnings Call Transcript

Merck KGaA (MKKGY) came out with quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.57 per share a year ago.