Pfizer rises after earnings beat, boost to full-year profit outlook

Pfizer rose in premarket trading after it reported earnings results that beat Wall Street’s expectations and raised its full-year outlook.

The company reported adjusted earnings per share of $0.78, compared to the $0.58 analysts polled by FactSet were expecting. It also reported revenue of $14.7 billion, higher than the $13.4 billion the Street was penciling in.

Pfizer now expects full-year adjusted earnings per share to come in between $2.90 and $3.10, up from $2.80 to $3. The company held its annual revenue forecast of $61 billion to $64 billion.

Pfizer rose about 2% in premarket trading. The stock is down more than 10% this year as the patents on its more lucrative drugs are set to expire in the next couple years and its pipeline of new drugs has yet to excite investors.

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Lucid plans to build a privately owned autonomous car with Nvidia tech

Shares of Lucid vaulted briefly on Tuesday afternoon following the company’s announcement that it will team up with Nvidia to bring Level 4 autonomous driving to its future vehicles.

A still unnamed midsized SUV by Lucid, planned for 2026, will feature lidar and radar provided by Nvidia’s ecosystem. Ultimately, the automaker said it aims to create the “first true eyes-off, hands-off, and mind-off (L4) consumer owned autonomous vehicle.” Level 4 autonomous vehicles, like Waymo’s robotaxis, operate without human intervention.

The Nvidia partnership will also bring new automated features to Lucid’s Gravity SUV, the luxury EV maker said. Its shares rose more than 6% before losing all those gains and dipping into the red.

Lucid and Nvidia’s announcements came along with a host of other new partnerships at the chip designer’s GPU Technology Conference in Washington, DC.

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