Pfizer Earnings to Dominate Healthcare, Pharma ETFs
May 2nd at 4:10pm by John Spence
Exchange traded funds (ETFs) that invest in healthcare and pharmaceuticals companies will take their cues from sector giant Pfizer (NYSE: PFE) when the company reports first-quarter earnings before Tuesday’s opening bell.
Pfizer is a top holding in Pharmaceutical HOLDRS (AMEX: PPH), Health Care Select Sector SPDR Fund (NYSEArca: XLV) and iShares Dow Jones US Healthcare (NYSEArca: IYH).
Wall Street is looking for profit of 59 cents a share from Pfizer, which produces Lipitor and other drugs.
First-quarter earnings “could beat consensus expectations despite flat revenue growth due to lower operation costs,” Jefferies analysts said in a Pfizer preview. “While management may not comment on restructuring, we believe they may provide an update on financial guidance for 2011 and 2012 given the recent announcements of business development deals.”
Health Care Select Sector SPDR Fund
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