Pfizer's Stock Falls After Downbeat Profit, Sales Outlook

Shares of Pfizer slumped 1.7% in premarket trade Tuesday, after the drug giant provided a downbeat 2015 profit and sales outlook, citing product losses and the negative impact of currency moves. That overshadowed better-than-expected fourth-quarter results. Pfizer said it expects 2015 adjusted earnings per share in the range of $2 to $2.10, and revenue of $44.5 billion to $46.5 billion, compared with the FactSet consensus analyst estimates of $2.16 and $47.4 billion, respectively. For the fourth quarter, net earnings fell to $1.23 billion, or 19 cents a share, from $2.57 billion, or 39 cents a share. Excluding non-recurring items, earnings were 54 cents a share. Sales fell 3% to $13.12 billion. Analysts were expecting adjusted earnings of 53 cents a share and sales of $12.9 billion. The stock, a component of the Dow Jones Industrial Average, has run up 13% over the past three months through Monday, while the Dow has gained 5.1%.