Shares of Pfizer Inc. PFE,
On Tuesday, premarket trading fell 0.6% after the drug maker reported a fourth-quarter profit that missed expectations but exceeded expectations and delivered positive outlook for the full year. The company surged to net income of $ 594 million, or 10 cents a share, from a net loss of $ 337 million, or 6 cents a share, in the same period a year ago. Excluding one-off items, adjusted earnings per share rose from 36 cents to 42 cents, but missed the 50 cent FactSet consensus. Sales were up 12% to $ 11.68 billion, above the FactSet consensus of $ 11.48 billion. Vaccine revenues were up 17%, oncology up 23% and rare diseases up 26%, while revenues were up 1% for internal medicine and 8% for hospitals. Pfizer increased its 2021 WPA guideline from $ 3.00 to $ 3.10 to $ 3.10 to $ 3.20, mainly thanks to additional refinements to its COVID-19 vaccine yield forecast. The company expects sales of $ 59.4 billion to $ 61.4 billion by 2021, above the current FactSet consensus of $ 58.3 billion. The stock is up 4.3% in the last three months, while the S&P 500 SPX,
is up 14.0%.