markets

J. Edward Moreno4/29/25

Pfizer beats earnings estimates thanks to cost cuts

Pfizer beat Wall Street earnings estimates for the first three months of this year, fueled largely by an aggressive cost-cutting campaign.

Pfizer reported adjusted earnings per share of $0.92, higher than the $0.67 analysts polled by FactSet were expecting. The drugmaker also reported $13.7 billion in revenue, less than the $13.9 billion analysts were penciling in.

The company has cut an additional $1.2 billion in costs, with the goal of cutting $4.5 billion by the end of the year. Pfizer is trying to get leaner while it searches for its next blockbuster drug.

Management also reaffirmed its 2025 outlook, which “does not currently include any potential impact related to future tariffs and trade policy changes, which we are unable to predict at this time.”

Shares are modestly higher in premarket trading as prepared remarks from CFO David Denton suggest that the company is “currently trending toward the upper end” of its profit guidance, excluding any trade-related impacts.

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markets

J. Edward Moreno7/7/26

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.

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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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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