The energy industry has undergone several major changes in the XXI that are becoming increasingly apparent…
Pfizer revealed strong Q1 earnings
2021-05-04 • Updated
Pfizer, a huge pharmaceutical company and one of the vaccine makers, has published better-than-expected earnings results for the first quarter of 2021.
The market forecast was 0.79 as you can see in the picture above. The actual numbers significantly surpassed the expected level. In comparison, one year ago, Pfizer's earnings were 0.60 per share.
Vaccine-making is likely to bring Pfizer even more revenue in the second quarter as the company will produce and deliver 1.6 billion in 2021 due to the signed contracts. Pfizer and its partner BioNTech are planning to get the full FDA approval for their Covid-19 vaccine by the end of May. Moreover, the FDA may give a green light for Pfizer to vaccinate children aged 12-15 already next week, according to the New York Times.
On the daily chart, the RSI indicator went above the 70.00 level, signaling the stock is overbought. Therefore, after a short spike (probably above $40.00) due to the positive earnings, Pfizer may correct down in the short term. If you prefer taking positions for a long period (a few weeks or a month), you shouldn’t be afraid of this short sell-off as Pfizer is one of the leading vaccine producers and a credible pharma company, thus in the long term, it’s likely to climb up further. However, if you a day trader, keep an eye on the stock as it may reverse down. Don’t forget that FBS traders can open both buy and sell orders trading stocks. Therefore, use the possible sale to your advantage. If it falls, it will be supported by the recent low of $38.40 and the 200-day moving average of $37.00, which it’s unlikely to cross on the first try.
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Bullish Scenario: Buys above 17910 with TP:18098.07, TP2:18277, and TP3: 18415 Bearish Scenario: Sells below 17850 with TP1:17730, TP2: 17700
During his program on CNBC on February 28, Jim Cramer expressed frustration with the impact of earnings reports on market behavior, noting how they often prompt rash decisions by average investors. He criticized the short-term focus and lack of attention to nuance in news coverage of earnings. Cramer cited examples of Home Depot and Lowe's, highlighting how investors reacted hastily to headline news without considering the broader context provided in earnings calls.
After creating record highs, Wall Street's main indexes opened on Wednesday and began to edge lower, reflecting cautious sentiment among investors. They're eagerly awaiting crucial inflation data that could impact the U.S. Federal Reserve's interest rate decisions. The upcoming release of the personal consumption expenditures (PCE) price index is expected...