Why Pfizer Stock Was Jumping Today, but Then Gave Up Its Gains
Shares of (NYSE: PFE) jumped as much as 3.2% higher on Tuesday morning before giving up all of the gains and then some. The pharma stock was down by 0.6% as of 12:05 p.m. ET.
These gyrations came after Pfizer announced its fourth-quarter and full-year results before the opening bell. The company reported Q4 revenue of $14.2 billion. Although this was a 41% year-over-year decline, it still topped Wall Street's consensus revenue estimate of $13.3 billion.
Pfizer posted a Q4 loss of nearly $3.4 billion, or $0.60 per share, based on generally accepted accounting principles (GAAP). However, the drugmaker recorded adjusted earnings per share of $0.10, which was well above the analysts' average estimate of an adjusted loss of $0.20 per share.
Source Fool.com
Pfizer Inc. Stock
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