Shares of Pfizer Inc. (PFE) surged 4.6% in afternoon trading Tuesday, to pace the Dow Jones Industrial Average's (PFE) gainers, after the drug maker reported second-quarter results ( ) that beat expectations and raised its financial guidance. The stock is currently on track to post the best one-day post-earnings gain since it shot up 5.5% on Feb. 1, 2011, after Pfizer reported fourth-quarter 2010 results ( ). On the day of the past 20 quarterly reports, Pfizer's stock has gained eight times, with an average gain of 2.8%, according to an analysis of FactSet data. After the other 12 earnings reports, the average decline was 1.9%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 28, 2020 15:11 ET (19:11 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.