Pfizer (NYSE: PFE) is out with earnings and they are solid. The company reported that net income more than doubled from Q2 '07, to $2.77 billion. Adjusted net income came in at 55 cents, a penny above estimates. MarketWatch reports, "Pfizer said it reaffirmed its full-Year 2008 revenue and adjusted net income targets. It's on track to achieve its total cost-reduction target."
The stock may very well trade up on this news. Keep in mind that while shares haven't performed well, with a 7% dividend yield, the stock may be an interesting play for investors looking for both income and a potential turnaround story.
Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any stock mentioned, as of 7/23/08.
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