Yahoo Finance Today's Research Reports on Trending Tickers: Facebook and Pfizer
NEW YORK, NY / ACCESSWIRE / November 19, 2018 / Pfizer and Facebook were both in deep water last week. Pharma giant Pfizer decided to increase the prices of 41 drugs according to the WSJ with the price hikes taking effect in January. Shares of Facebook hit a new low as Wall Street continued to grapple with a NY Times article about executives at the company ignoring warning signs of abuse.
MER Initiates Coverage on:
Pfizer Inc.
https://marketedgereport.com/report/PFE/
Facebook, Inc.
https://marketedgereport.com/report/FB/
Pfizer Inc. shares closed up modestly on Friday with around 23.3 million shares traded. The pharmaceutical giant was met with criticism after deciding to increase the prices of 41 drugs in January of 2019. Pfizer will be raising the list price of about 10 percent of its drugs on January 15th. Many of the increases will be 5 percent, though it will raise three drugs' list prices by 3 percent and one drug's by 9 percent. CEO Ian Read stated, "We believe the best means to address affordability of medicines is to reduce the growing out-of-pocket costs that consumers are facing due to high deductibles and co-insurance, and ensure that patients receive the benefit of rebates at the pharmacy counter." It was this past July that President Trump had criticized the company's drug price increases which Pfizer decided to delay until the end of the year. At the time of Trump's tweet, Read had said in a phone interview with CNBC, "After he [President Trump] tweeted, we looked at the various situations, and we decided before I spoke to him we needed to defer the price increases because we wanted to have a positive relationship with the Hill and administration as we go through this blueprint."
Access MER's Pfizer Inc. Research Report at:
https://marketedgereport.com/report/PFE/
Facebook, Inc. shares closed down 3% on Friday with around 37 million shares traded. The stock hit a new low of $137.77 after a New York Times report last week revealed that Facebook's top management, including CEO Mark Zuckerberg and COO Sheryl Sandberg, had ignored several warning signs of abuse and tried to keep the issues hidden. Facebook defended itself in a blog post and wrote, "We've acknowledged publicly on many occasions -- including before Congress -- that we were too slow to spot Russian interference on Facebook, as well as other misuse. But in the two years since the 2016 presidential election, we've invested heavily in more people and better technology to improve safety and security on our services." Jim Cramer of CNBC remarked, "Although the recent performance in the stock has been uninspiring, we thought the most recent earnings -- which featured an operating-margin beat and strong average-revenue-per-user trends -- support positive trends to both the top and bottom lines and in turn will lead to a high market multiple. We reiterate our $200 price target." It was also last week that roughly 50% of users in North and South America couldn't log on to the social media network's platform when it suffered an outage.
Access MER's Facebook, Inc. Research Report at:
https://marketedgereport.com/report/FB/
Our Actionable Research on Pfizer Inc. (NYSE: PFE) and Facebook, Inc. (NASDAQ: FB) can be downloaded free of charge at MarketEdge Report.
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SOURCE: MarketEdgeReport
