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Pfizer Drops After 2021 Earnings Forecast Trails Estimates

  • CEO Bourla previewed earnings guidance at JPMorgan Conference
  • Adjusted earnings between $3 and $3.10 per share seen
Albert Bourla
Albert BourlaPhotographer: Zach Gibson/Bloomberg
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Pfizer Inc. shares fell after Chief Executive Officer Albert Bourla said 2021 adjusted earnings would be between $3 and $3.10 per share, less than what analysts were expecting.

The shares fell as much as 2.3% in New York trading on Tuesday morning. Analysts had expected adjusted earnings per share in 2021 of $3.18, according to a survey of 16 analysts by Bloomberg.