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J. Edward Moreno

Pfizer beats Q4 estimates, releases mid-stage GLP-1 trial results, and maintains guidance for full-year 2026

Pfizer reported earnings that beat Wall Street estimates, reaffirmed its full-year guidance, and released mid-stage trial results for its upcoming weight-loss drug. Still, shares slipped as the company’s full-year profit forecast came in a little light.

For the last three months of 2025, Pfizer reported:

  • Adjusted earnings per share of $0.66, compared to the $0.57 analysts polled by FactSet were expecting.

  • Revenue of $17.6 billion, compared to the $16.8 billion Wall Street was penciling in.

For the full year 2026, Pfizer expects:

  • Annual adjusted earnings per share to land between $2.80 and $3.00, compared to the $2.97 analysts are currently expecting.

  • Annual revenues to hit between $59.5 billion and $62.5 billion, compared to the $60.9 billion analysts have forecast.

The company also released mid-stage trial results for its monthly weight-loss shot, which it recently acquired through its purchase of Metsera. The results showed that patients lost over 12.3% of their body weight at 28 weeks.

The data is cut off at a shorter time frame than the final data available for products already on the market, which makes it difficult to compare directly. Still, it is the first sign that less frequent dosing could still produce results. Late last year, Pfizer won a bidding war against Novo Nordisk, purchasing obesity biotech Metsera for $10 billion.

The pharmaceutical giant is working to reignite growth after demand for its COVID-19 products has waned and as some of its biggest moneymakers get nearer to the end of their patents’ lives. 

Management has framed the next few years an investment and transition period, as Pfizer absorbs patent expirations while betting that recently launched, acquired, and pipeline products will drive growth later in the decade. The company "appears to be in the penalty box until it can gain some footing from a growth perspective," said David Wagner, head of equity at Aptus Capital Advisors.

“The big question is — will we see sizable returns from their M&A spend, and will they make all the right development choices over this & next year to support the longer-term return to growth?”

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Luke Kawa
7/13/26
Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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markets
J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings
markets
Paige Oamek

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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