Pfizer Shares Rise on Positive 2025 Outlook
Pfizer shares experienced an increase on Tuesday morning after the pharmaceutical company confirmed its full-year 2024 projections and provided guidance for 2025 revenue and adjusted profit that align with analysts’ expectations.
Pfizer anticipates that its 2024 revenue will fall within the range of $61 billion to $64 billion, with adjusted earnings per share (EPS) estimated between $2.75 and $2.95. Analysts, according to estimates compiled by Visible Alpha, forecast $63.01 billion in revenue and adjusted earnings of $2.93 per share.
Looking forward to 2025, Pfizer foresees the same revenue range, while analysts predict a slight increase to $63.24 billion. Adjusted EPS for Pfizer is expected to slightly increase to $2.80 to $3.00, whereas analysts project $2.89.
Pfizer has achieved its objective of reducing costs by $4 billion by the end of 2024, with an additional $500 million in savings expected over the next year. The company has returned to revenue growth in its most recent quarters after a period of decline, which began when sales of its COVID vaccine reached their peak.
Pfizer shares have recently seen a 4% increase in trading, leading S&P 500 gainers, although they remain down approximately 9% for the year.
Supermicro Price Levels to Monitor Amid Recent Decline
Super Micro Computer shares rose in early trading on Tuesday following a previous drop after news surfaced that the stock would be delisted from the Nasdaq 100 Index and reports emerged of the struggling server maker looking into capital-raising options.
Despite a turbulent year, which saw the stock hit a high of $119 in March before falling to around $18 in mid-November, Supermicro shares have rebounded by 80% in the past month. This recovery came after the company hired a new auditor and secured a filing extension until Feb. 25 but was preceded by a 25% decline in the previous five trading sessions as investors assess the company’s future prospects.
On Tuesday, the stock was up by 4% at approximately $35 during the trading session.
Source: TradingView.com.
Supermicro shares recently closed below the 50-day moving average and the relative strength index (RSI) points to weakening momentum, with the indicator showing a reading below 50 for the first time since late November. Investors should pay attention to significant support levels around $26 and $18, as well as critical resistance levels near $39 and $50.
Dow Futures Decrease as Index Faces 8-Day Losing Streak
The Dow Jones Industrial Average is set to open lower on Tuesday, with the index enduring its lengthiest daily losing streak in six years. Over the past eight sessions, the Dow has seen a decline of nearly 3%, while the S&P 500 has remained relatively stable. In contrast, the Nasdaq Composite has experienced a 2.2% increase and reached new record highs.
Tesla Stock Continues to Rise as Analysts Remain Optimistic
Tesla shares are on the rise again on Tuesday, continuing a rally post-election that has propelled the stock to all-time highs. Wedbush recently raised its price target to $515 from $400, suggesting a potential rise to $650 by the end of next year due to expectations that the incoming administration will benefit Tesla’s self-driving and artificial intelligence initiatives.
The stock saw a 2.5% increase to around $475 before Tuesday’s trading session.
Source: TradingView.com.
Since the beginning of the year, Tesla shares have surged approximately 85%, with significant gains following the November 5 election. The stock broke out from an ascending triangle pattern and is currently in an overbought condition as indicated by the relative strength index. Investors should take note of key support levels near $360, $300, and $265 on Tesla’s chart.
Source : www.investopedia.com