Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
(Compares with analyst estimates)
April 30 (Reuters) - Pfizer Inc beat Wall Street estimates for quarterly profit and tweaked its earnings forecast for the year on Tuesday, as it reported rising sales of cancer drug Ibrance and pneumonia vaccine Prevnar, pushing shares in the drugmaker higher.
The company pushed its 2019 adjusted earnings per share forecast marginally higher to $2.83 to $2.93 per share, from a prior estimate of $2.82 to $2.92. Analysts had expected $2.89 per share, according to IBES data from Refinitiv.
Pfizer's blockbuster drug Ibrance raked in sales of $1.13 billion, up 21.4 percent from a year earlier, and ahead of analysts' estimates of $1.12 billion.
Prevnar brought in revenue of $1.49 billion, beating an average analyst estimate of $1.39 billion. Excluding special items, the company earned 85 cents per share, beating analysts' estimate of 75 cents.
Shares in the company rose around 1.5 percent in trading before the bell.
The largest U.S. drugmaker has announced plans to streamline operations since new chief executive Albert Bourla took office at the start of the year with a mandate to push growth and reduce bureaucracy.
To counter the threat of generic competition to Lyrica, one of its biggest drugs, Pfizer has been investing in cancer treatments and gene therapies, and expects to gain approval for a new heart drug, touted as a potential blockbuster, later this year.
The company said net income rose to $3.88 billion, or 68 cents per share, in the first quarter, from $3.56 billion, or 59 cents per share, a year earlier.
Revenue rose 1.6 percent to $13.12 billion, ahead of estimates of $12.99 billion. (Reporting by Tamara Mathias in Bengaluru Editing by Saumyadeb Chakrabarty and Patrick Graham)