GameStop is back! It has already surged by 14% in pre-trade hours.
PFIZER: will it repeat the jump?
The famous pharma giant Pfizer is going to release its earnings report on January 28 at 17:00 MT time. According to analysts, the company will post a revenue of $12.61 billion and EPS of $0.57.
Why is it important?
The current release will show whether the merger of Pfizer’s off-patent drug unit Upjohn with drug-producing company Mylan brings any positive results. While some analysts anticipate the deal to be powerful enough for a company to stay strong in the challenging pharmaceutical market, others are being more skeptical. They expect to see any significant effect only in 2023. Of course, the optimistic comments on this topic during the conference call on January 28 will be appreciated by bulls.
The previous release
During the previous release, the revenue reached $12.68 billion, while EPS came out at $0.75. The figures were greater than analysts’ expectations. Also, the company raised its 2019 forecasts. According to it, the revenue will reach $51.2 to $52.2 billion (vs. $50.5 to $52.5 previously) and EPS $2.94 to $3 (previously $2.76 to $2.86).
As we can see in the picture below, the price of Pfizer stock jumped on the release from $37.27 to $38 and managed to rise as high as $38.75 within a day.
If the actual figures outperform the forecasts this time, we may see a similar scenario.
Key levels for Pfizer stock
On the daily chart, the price of Pfizer is trying to stick above the 200-day SMA. The positive earnings report will push the stock above the $40.86 level towards the next resistance at $41.8. The downward momentum will be limited by the $38.67 level.
What should you do now?
Get ready for the release at 17:00 MT time and follow these easy steps
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