Thank you Pfizer Bank for running the price up. Tomorrow I cash out.
Read between the lines. They get an 11 billion dollar check and what do they do? Do they talk about expansion, more R&D, investing in something that will bring value. NO they are going to buy back shares. WHY, probably becuase they see a grim future and know they have to support the price. Since 2004, Pfizer has used a repulsive 32 billion dollars to repurchase stock. In 2004 their EPS was $1.49 and now they are $1.11 as of the most recent quarter. To make things worse, they are buy shares back right around the 52 week high. IMO they are bracing for worse things to come. Go to cafepharma and see what the employees are saying. Go to the "boards" then "company" and look up Pfizer. They just had a conference call today about all the sales reps they are going to lay off this year due to poor sales and losing products. The insiders are real and they are loosing their jobs. This is a defensive play by Pfizer, not a value play for the shareholders.