Pfizer stock sinks as pharma giant cuts earnings outlook on weaker COVID demand

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Pfizer stock sinks as pharma giant cuts earnings outlook on weaker COVID demand
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Moderna, Novavax shares also pressured after hours

Pfizer Inc. PFE, -2.46% shares dropped in the extended session Friday after the drug maker slashed its full-year outlook due to COVID product write offs. Pfizer shares dropped more than 7% after hours, following a 2.

5% decline to close the regular session at $32.11. The company forecast full-year earnings of $1.45 to $1.65 a share on revenue of $58 billion to $61 billion. Analysts surveyed by FactSet expect $3.29 a share on revenue of $65.96 billion.

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