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Biotech / Medical : PFE (Pfizer) How high will it go? -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (5972)	10/13/1998 7:17:00 PM
From: hilm	Respond to of 9523

yet another take, last paragraph explains biggest hurdle with earnings. <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< Pfizer earnings fall short of target Currency rates cited; Viagra sales slip By Khanh T.L. Tran, CBS MarketWatch Last Update: 6:35 PM ET Oct 13, 1998NewsWatch NEW YORK (CBS.MW) -- Pfizer shares may come under pressure Wednesday after the maker of Viagra posted earnings that fell short of Wall Street estimates. Breaking NewsDow tumbles amid Kodak negativesAHP, Monsanto scrap $33 billion dealWill FCC be a killjoy to radio's party?Intel surpasses target by 9 centsBond yields' rocky ride may deflate confidenceMore top stories...CBS MarketWatch ColumnsUpdated: 10/13/98 6:30:06 PM ET Pfizer (PFE) reported earnings of $667 million, or 51 cents per share, excluding figures from the company's discontinued Medical Technology Group operations. The company was expected to make 56 cents per share, according to analysts surveyed by First Call. In the same period a year ago, it earned $579 million, or 46 cents per share. In after-hours trading Tuesday, shares fell 5 1/2, or 5.9 percent, to 87 1/2. New York-based Pfizer also said sales of the wildly popular Viagra anti-impotence drug weakened vs. the second quarter, when wholesalers stocked up on the product in its first quarter on sale in the United States. However the company, which didn't offer details of the Viagra fall-off, said it expects those sales to help a rebound in the fourth quarter. But the biggest drag on earnings and sales, Pfizer said, was foreign-exchange fluctuations from the U.S. dollar's appreciation. Although Pfizer implemented a foreign-exchange hedging program to protect itself from drastic fluctuations, depreciation in foreign currencies reduced quarterly revenue by 3.9 percent, or $108 million, to $3.33 billion.