Pfizer Inc. (NYSE: PFE) stock was up 1.3% in early trading despite missing earnings per share estimates. Pfizer earnings came in at $0.42 per share after consensus estimates had called for earnings of $0.52 per share. Revenue was $11.9 billion, which topped estimates of $11.42 billion.
Company officials now expect year earnings per share (EPS) between $2.01 and $2.07. That's up from a range of $1.95 to $2.05. Revenue is also expected to be $46 billion, up from $45 billion.
Merck & Co. Inc. (NYSE: MRK) stock fell 2% before 10 a.m. this morning despite posting EPS of $0.86. That beat consensus estimates of $0.81.
Investors were reacting to dismal sales figures, as revenue fell 11% in the quarter.
Merck officials also raised their year-end earnings predictions. They now expect 2015 EPS between $3.45 and $3.55. That's up from an initial range of $3.35 to $3.48.
Merck also announced that it will purchase cCam Biotherapeutics for $95 million. The company has cancer treatments in early-stage clinical trials.
Pfizer stock has climbed 11.4% in 2015, while MRK stock is up just 0.1% on the year. Both companies lag far behind the overall pharmaceutical industry. In 2015, the S&P Pharmaceuticals Industry Index has climbed an impressive 20.4%.
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