Hospira Inc stock price

Hospira Inc latest news:


  • 01/30/2018 05:05:49

    Pfizer shares rise after Q4 profit, revenue beats; upbeat guidance

    Pfizer Inc. shares rose 1.4% in premarket trade Tuesday after the company reported fourth-quarter profit and revenue beats and upbeat 2018 guidance. Earnings for the latest quarter rose rose to $12.27 billion, or $2.02 per share, from $775 million, or 13 cents per share in the year-earlier period. Adjusted earnings-per-share were 62 cents, compared with the FactSet consensus of 56 cents. Revenue rose to $13.70 billion from $13.63 billion, compared with the FactSet consensus of $13.67 billion. The latest results include "continued strength" from products such as Ibrance, Eliquis and Xeljanz, Chief Executive Ian Read said. The company's Essential Health business had strong revenue growth in emerging markets and biosimilars but was hurt by the company's Hospira Infusion Systems divestitute, expected losses of exclusivity for products and Hospira U.S. product shortages, Read said. Pfizer expects 2018 revenue of $53.5 billion to $55.5 billion, compared with the FactSet consensus of $53.82 billion, and 2018 adjusted EPS of $2.90 to $3.00, compared with the FactSet consensus of $2.78. The company said its 2018 financial guidance for the effective tax rate on adjusted income, which it expects to be about 17%, reflects corporate tax reform; Pfizer expects a "meaningfully lower" effective tax rate this year and repatriation tax liability of about $15 billion over eight years. Pfizer also said its 2018 adjusted EPS expectations include an expected $5 billion in share buybacks, and touted its U.S. investments, including plans to invest about $5 billion in capital projects in the U.S. Company shares have surged 11% over the last three months, compared with a 10.9% rise in the S&P 500 and a 13.2% rise in the Dow Jones Industrial Average .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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