Introduction
Pfizer (NYSE:PFE) recently took a market beating when it reported lower than expected revenue. Currently, it has recovered completely from that beating. Did the market overreact or is the market now forgetting what happened just a few months ago? The Company missed estimates by $300 million and reported $12.78B instead of $13.09B revenue. Almost all of that miss was due to one less domestic selling day and two less international selling days, according to Pfizer CEO Ian Read. He goes on to state that revenues were also further impacted by the sale of Hospira Infusion Systems.
Now, before I take the CEO's word for it, I'd like to run some checks to see if this is a spin on facts or a valid argument. While I am a skeptical person by nature, and this is definitely amplified during stock research, there are some peculiarities about the statement that give me pause.
