Markets
markets
J. Edward Moreno

Pfizer beats Q4 estimates, releases mid-stage GLP-1 trial results, and maintains guidance for full-year 2026

Pfizer reported earnings that beat Wall Street estimates, reaffirmed its full-year guidance, and released mid-stage trial results for its upcoming weight-loss drug. Still, shares slipped as the company’s full-year profit forecast came in a little light.

For the last three months of 2025, Pfizer reported:

  • Adjusted earnings per share of $0.66, compared to the $0.57 analysts polled by FactSet were expecting.

  • Revenue of $17.6 billion, compared to the $16.8 billion Wall Street was penciling in.

For the full year 2026, Pfizer expects:

  • Annual adjusted earnings per share to land between $2.80 and $3.00, compared to the $2.97 analysts are currently expecting.

  • Annual revenues to hit between $59.5 billion and $62.5 billion, compared to the $60.9 billion analysts have forecast.

The company also released mid-stage trial results for its monthly weight-loss shot, which it recently acquired through its purchase of Metsera. The results showed that patients lost over 12.3% of their body weight at 28 weeks.

The data is cut off at a shorter time frame than the final data available for products already on the market, which makes it difficult to compare directly. Still, it is the first sign that less frequent dosing could still produce results. Late last year, Pfizer won a bidding war against Novo Nordisk, purchasing obesity biotech Metsera for $10 billion.

The pharmaceutical giant is working to reignite growth after demand for its COVID-19 products has waned and as some of its biggest moneymakers get nearer to the end of their patents’ lives. 

Management has framed the next few years an investment and transition period, as Pfizer absorbs patent expirations while betting that recently launched, acquired, and pipeline products will drive growth later in the decade. The company "appears to be in the penalty box until it can gain some footing from a growth perspective," said David Wagner, head of equity at Aptus Capital Advisors.

“The big question is — will we see sizable returns from their M&A spend, and will they make all the right development choices over this & next year to support the longer-term return to growth?”

More Markets

See all Markets
Matt Phillips, Tasha Matsumoto
21h
Stocks sink as the war escalates; Russell 2000 enters correction territory

The S&P 500 closed lower for the fourth consecutive week as the US deployed more troops and warships to the Middle East.

Alaskan Brown Bears (Ursus horribilis) fighting in a river
markets
Matt Phillips

Exxon and Chevron surge as oil rises; gold keeps getting clobbered

Exxon and Chevron jumped again on Friday, the two largest positive contributors to the S&P 500 as of midday, even as the broader market remained mired in the red.

The two giant US energy companies are also on track to notch another in a series of new all-time highs as well Friday, and for obvious reasons.

Energy continues to be the bright spot for the S&P 500 since the start of the Iran war. (It is the only gainer of the 11 separate sectors that compose the blue-chip index, rising more than 7% in March.)

But energy’s gain has come with pain elsewhere. Since rising gas prices work mechanically as a tax on other forms of consumer spending, staples stocks have been hit hard, with the sector down more than 6% this month alone. Meanwhile, the inflationary pressure pushing the Fed away from further rate cuts continues to hit precious metals and miners. SPDR Gold Shares ETF and iShares Silver Trust futures both fell further on Friday; they’re down roughly 10% and 15% for the week, respectively, and producers like Newmont and Freeport-McMoRan also continue to drop.

markets
David Crowther

Investors have been drawn to software stocks since the Iran war started — Figma has been an exception

Since the Iran war started, risky assets have been in the crosshairs. Stocks have sold off as oil prices spiked, the odds of rate cuts later this year have been slashed, and even the usual safe havens like gold and silver have been unreliable ports in the growing storm.

One port of refuge, however, has been in software stocks. As noted by my colleague Matt Phillips recently, a number of high-profile software names — the same ones that some pundits doomed to obsolescence because of AI just a few short weeks ago — have held up well. Design company Figma, however, has not been one of those names.

Figma’s stock has dropped 19% since the close of trading on February 27, while the iShares Expanded Tech Software ETF has gained 2%.

Though still notching very respectable top-line growth, with sales up 40% last year, Figma is far from the “cash cow” stage of its life — perhaps why it’s been hit harder than peers such as Adobe, Workday, or Salesforce. Indeed, on a GAAP basis, Wall Street still expects the company to lose $477 million this year, as heavy stock-based compensation weighs on its profitability.

Figma’s pain was then compounded when Google announced a major update to Stitch on Wednesday — a product described as “an AI-native software design canvas that allows anyone to create, iterate and collaborate on high-fidelity UI from natural language.”

Debate is still raging on Reddit and other social media platforms as to whether Stitch, or other vibe-coding platforms and tools, will meaningfully eat into Figma’s core business. One user said that it “offers very little to experienced designers. It removes the tools Figma offers and delegates everything to AI. Figma at least has all the capabilities plus AI for people who want to use AI.” Another — complaining about the newly prohibitive cost of credits in Figma’s own AI-powered tool, Figma Make — was more bearish on Figma’s usefulness, saying that the number of credits the designer would need to use would cost $16,000 under Figma’s new pricing model.

For now, investors aren’t giving Figma the benefit of the doubt, with the stock down 12% in the last two days alone.

markets
Matt Phillips

Chip-smuggling charges against Super Micro cofounder boost rival server maker Dell

Dell is up in early Friday trading after rival Super Micro Computer plunged on news that one of its cofounders had been charged by US prosecutors with allegedly illegally smuggling AI chips to China.

Dell, Super Micro, and HP Enterprise are all what’s known as “system makers”: they sell ready-to-roll rack servers, storage systems, and the other hardware that’s needed to fill all those data centers that hyperscalers are so desperate to build.

Dell and Super Micro both sell systems built around Nvidia GPUs, so the US government’s allegations against key personnel tied to Super Micro could jeopardize the company’s access to Nvidia products and give Dell a leg up in that crucial AI-related server market.

Super Micro dives after cofounder charged with allegedly smuggling AI chips to China

Super Micro dives after cofounder charged with allegedly smuggling AI chips to China

Dell, Super Micro, and HP Enterprise are all what’s known as “system makers”: they sell ready-to-roll rack servers, storage systems, and the other hardware that’s needed to fill all those data centers that hyperscalers are so desperate to build.

Dell and Super Micro both sell systems built around Nvidia GPUs, so the US government’s allegations against key personnel tied to Super Micro could jeopardize the company’s access to Nvidia products and give Dell a leg up in that crucial AI-related server market.

markets
Matt Phillips

Planet Labs soars after earnings beat and positive analyst commentary

Planet Labs held on to huge post-earnings gains early Friday as analysts that cover the retail favorite issued largely upbeat reviews of its Q4 report released Thursday after the bell. Here’s some of their commentary on the satellite services company:

Wedbush (rating: “outperform,” price target: $40): PL is seeing major tailwinds in the geopolitical space, continuing to drive mission-critical demand globally. Total RPO came in at ~ $852 million (up ~106% y/y) with backlog of ~$900+ million (up ~79% y/y) highlighted by 9- figure deal with the Swedish Armed Forces which was the third 9-figure Satellite Services contract over the past 12 months totaling $500+ million across Sweden, Japan, and Germany, with management noting on the call that both deal count and average size in the satellite services pipeline has grown appreciably.”

Citizens (rating: “market perform,” price target: N/A): “In our view, Planet’s solid performance in the quarter and the significant revenue acceleration implied for FY27 reflect the company’s success in shifting to a satellite services model and leaning (heavily) into the needs of Defense & Intelligence segment customers. We believe this is the correct area of focus (for management and investors) and view some of the flashier announcements around Project Suncatcher (space-based data centers), or more recently, AI enabling a renaissance within Planet’s Civil and Commercial businesses as somewhat of a distraction.”

Clear Street (rating: “buy,” price target: $34): “While F2026 revenue grew 26%, non-defense verticals have lagged. Management signaled an inflection point, with use cases such as maritime awareness data poised towards gaining traction across finance, insurance, and supply chain, supported by a more tailored approach with LLM partnerships like Anthropic (private).”

There’s a reason the stock has built a strong retail following: it had already surged more than 500% over the past year, even before jumping another 20% after last night’s earnings.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.
©2026 Sherwood Media, LLC