2 Big-Name Stocks Are Falling Wednesday -- Here's Why
The stock market looked ready to keep climbing early Wednesday, even as investors were largely in wait-and-see mode during the last day of the Federal Reserve's current monetary policy meeting. Market participants want to know if the Fed is done with interest rate increases and how tightly it expects to hold rates at relatively high levels into 2024. Increasingly, investors have been optimistic that the worst is over on the inflation front, and that has helped launch major market benchmarks higher.
However, a couple of high-profile stocks in their respective industries posted significant losses to start the day. Drug giant Pfizer (NYSE: PFE) dropped as it announced its latest expectations for the full year. Meanwhile, Linde (NASDAQ: LIN) gave back most of its gains from earlier in the week. Here are the details on both moves and what's behind them.
Shares of Pfizer were down more than 7% early Wednesday morning. The pharmaceutical leader provided full-year guidance for 2024 that included some disappointing news, particularly in the wake of its recent acquisition of biotech company Seagen.
Source Fool.com
Pfizer Inc. Stock
With 28 Buy predictions and 4 Sell predictions Pfizer Inc. is one of the favorites of our community.
With a target price of 41 € there is a positive potential of 44.24% for Pfizer Inc. compared to the current price of 28.43 €.
