Yes, the quarter will disappoint. Terribly disappoint. This was some short covering today. Price will fall to low 28 by Wednesday next week and into the low 27s week following. So fox...what are you gonna do? Hold to get your dividend or sell Monday? C'mon, whatya gunna do??? This thing "nose dived" last quarter, why wouldn't it do so again this quarter? What better position is PFE in now than three months ago. Maybe you should sell? Or maybe hold to get your $50 dividend? Tough call for you!
The positive factor regarding Q2 earnings is the recent $10 billion stock buy-back which should boost EPS. The biggest concern is the sales revenue. Weak foreign currencies in countries where PFE does business and aggressive competition from the generic companies were the two primary reasons cited for missing the Q1 revenue target. Unfortunately those two issues still exist. I have also read some reports that the revenue obtained this year from the new BMY/PFE blood thinner drug, Eliquis, is lower than expected. Hopefully the Q2 sales revenue will not disappoint.
The ZTS spin-off was completed before the end of the quarter and that means that Q2 earnings for that entity will be treated as NON-OPERATING and will NOT be included in the adjusted earnings figure for Pfizer. There are likely analysts who don't realize that and are factoring in earnings that the company simply won't be showing. That of course increases the likelihood of a negative surprise this time around.
I believe PFE is loaded with cash, so I expect that they may have been aggressively buying back shares on the dip. They are also in a position where they can acquire development stage biotechs with promising pipelines. The generous dividend makes it easy to hold while waiting.