Markets
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J. Edward Moreno

Pfizer reports Q1 results above consensus, reaffirms 2026 guidance

Pfizer rose in premarket trading after it reported earnings results that beat Wall Street expectations and reaffirmed its annual guidance.

For the first three months of 2026, Pfizer reported:

  • Revenue of $14.5 billion, greater than the $13.8 billion analysts polled by FactSet had expected. Growth in some of its newer treatments helped offset the decline in demand for its COVID-19 products, it said.

  • Adjusted earnings per share of $0.75, higher than the $0.72 the Street was penciling in.

For the full year, Pfizer still expects:

  • Annual adjusted earnings per share to land between $2.80 and $3.00, compared to the $2.96 analysts are currently expecting.

  • Annual revenue to hit between $59.5 billion and $62.5 billion, compared with the $61.3 billion analysts have forecast.

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. It has made investments in oncology and late last year it acquired Metsera, a biotech working on a once-monthly GLP-1 shot.

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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

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