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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.
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.
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.
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.
Get ready for the release at 17:00 MT time and follow these easy steps
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Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.
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