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May 2, 2014
10:55 EDTPFEEarnings Preview: Pfizer looks for earnings boost from Lyrica others
Pfizer (PFE) is scheduled to report first quarter earnings before the market open on Monday, May 5, with a conference call scheduled for 10:00 am ET. Pfizer, a biopharmaceutical company, discovers, develops, manufactures, and sells healthcare products worldwide. Its product portfolio includes medicines and vaccines, as well as various consumer healthcare products. EXPECTATIONS: Analysts are looking for earnings per share of 55c on revenue of $12.07B, according to First Call. The consensus range for EPS is 52c-59c on revenue of $11.82B-$12.86B. LAST QUARTER: Pfizer reported fourth quarter EPS of 56c, which beat consensus estimates of 52c, on revenue of $13.56B, which beat consensus estimates of $13.37B. In its Q4 earnings press release, Pfizer said reported revenues decreased $333M, or 2%, which reflected operational growth of $64M, or 1%, and the unfavorable impact of foreign exchange of $397M, or 3%. The operational increase was primarily due to the strong growth of Lyrica, Inlyta and Xalkori globally, Enbrel outside of North America, as well as Celebrex, Eliquis and Xeljanz, primarily in the U.S. Revenues were negatively impacted primarily by the expiration on October 31, of the collaboration agreement for Enbrel in North America, continued erosion for branded Lipitor in developed Europe and certain other developed markets. STREET RESEARCH: On April 29, Citigroup raised its price target on Pfizer to $36 from $31, citing its high conviction that the company will ultimately close an "extremely value enhancing" acquisition of AstraZeneca (AZN). Citi kept a Buy rating on the stock. PRICE ACTION: Shares of Pfizer are up over 3% since its last earnings report on January 28. In mid-morning trading ahead of Monday's earnings, shares of Pfizer are down over 1%.
News For PFE From The Last 14 Days
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November 19, 2015
05:29 EDTPFEServier exercises licensing option with Cellectis for UCART19
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November 18, 2015
20:00 EDTPFEPfizer nears deal for Allergan at $370-$380 per share, Bloomberg says
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19:00 EDTPFEPfizer nearing acquisition of Allergan at $370-$380 per share, Bloomberg says
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17:00 EDTPFETreasury Department to release new 'guidance' deterring tax inversions, WSJ says
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08:11 EDTPFEIMS Health forecasts global drug spending to increase 30% by 2020 to $1.4T
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08:06 EDTPFEPfizer says Phase 3 XALKORI trial shows 'positive' results
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07:02 EDTPFEMerck KGaA, Pfizer win FDA breakthrough therapy designation for Avelumab
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06:09 EDTPFEValeant's Addyi sees hardly any sales, Bloomberg says
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November 17, 2015
05:22 EDTPFEStocks with implied volatility movement; P PFE
Stocks with implied volatility movement; Pandora (P) 104, Pfizer (PFE) 29 according to iVolatility.
November 16, 2015
13:32 EDTPFECantor helps Moelis clinches advisory role for Pfizer, Reuters reports
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09:59 EDTPFEOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
06:33 EDTPFEPfizer, Allergan deal brings focus on U.S. tax-inversion deals, Reuters says
Pfizer's (PFE) takeover bid for Allergan (AGN) has refocused financial markets over a potential move by the U.S. Treasury Department against tax-inversion deals, Reuters reported Friday. The outlook for such a move remained unclear on Friday, the report says. Reference Link
November 15, 2015
18:13 EDTPFEAllergan, Pfizer targeting late November merger deal, FT says
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November 13, 2015
13:57 EDTPFEAppeals court vacates decision invalidating Medicines Co. Angiomax patents
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11:12 EDTPFEPiper sees Pfizer profiting from Allergan deal, worth $50/share even without one
An acquisition of Allergan (AGN) by Pfizer (PFE) would increase the latter company's profits in 2016-2017 and lift its earnings by a large amount by 2019, wrote research firm Piper Jaffray in a note to investors today. WHAT'S NEW: By 2019, an acquisition of Allergan would increase Pfizer's earnings per share by 13%-16%, estimated Piper analyst Richard Purkiss. The deal would be profitable for Pfizer as early as 2016, the analyst believes. Excluding any acquisition, Pfizer is worth over $50 per share, well above analysts' average price target of $40, Purkiss believes. He kept a $52 price target and Overweight rating on Pfizer. WHAT'S NOTABLE: Yesterday dealReporter, noting that an acquisition of Allergan by Pfizer would be "a giant inversion deal," asserted that the U.S. Treasury could look to take steps to limit or discourage those types of transactions. On November 6, research firm Bernstein said that Allergan's strong results, coupled with the weakness of drug stocks, could cause Allergan to be reluctant to sell itself to Pfizer in the near-term. As a result, the firm thinks that the odds of a deal getting done may be lower than many believe. It kept a $385 price target and Outperform rating on Allergan. PRICE ACTION: In late morning trading, Pfizer rose fractionally to $33.47 and Allergan added 1.3% to $303.87.
06:54 EDTPFEPiper sees Pfizer worth over $50/share on standalone basis
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November 12, 2015
13:45 EDTPFEPfizer, Allergan talks could set off further Treasury action, dealReporter says
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November 11, 2015
07:56 EDTPFEBoston Biotech Conferences to hold a conference
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November 10, 2015
18:40 EDTPFEAllergan CEO says some peers 'deserve' pricing scrutiny, Bloomberg reports
In a Bloomberg TV interview Tuesday, Allergan (AGN) CEO Brent Saunders said certain drugmakers "deserve" recent scrutiny over drug price hikes. "There are a few companies that were very aggressive and perhaps took it too far, and deserve the attention they are getting. I think it's good. Transparency helps solve some of these issues," said the CEO. Asked whether he would be interested in acquiring embattled Valeant (VRX), Saunders said, "The things we look to buy are really first-in-class drugs, growth assets. There are a few of those in Valeant but there are also a lot of older medicines." Other companies that have received attention on the issue include Retrophin (RTRX), Pfizer's (PFE) Hospira, and Mallinckrodt (MNK). Reference Link
17:34 EDTPFEPfizer, Allergan considering Saunders as CEO of combined company, Bloomberg says
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