Pfizer Inc (NYSE:PFE) shares are down 3.2% to trade at $25.40 at last check, despite surpassing earnings and revenue expectations for the fourth quarter. The drugmaker has struggled with weak demand for its Covid-19 vaccine, and reaffirmed its lackluster outlook for 2026.
Overhead pressure near the $27 level has been capping gains since November, though the equity still sports a 13.1% nine-month lead. PFE is on track to snap a three-day win streak with its worst loss since December, and earlier gapped below recent support from its 20-day moving average.
Sector peer Merck & Co Inc (NYSE:MRK) also issued a modest 2026 forecast, but the shares were last seen up 2.5% to trade at $116.19. The pharmaceutical giant's profits of $2.04 per share on sales of $16.4 billion topped analysts’ estimates for the fourth quarter.
MRK is currently on track to mark its fourth-straight win. The security earlier surged to its highest highest level since September and now sports a healthy 46.8% nine-month lead.
Put volume is today running at double the intraday average volume for PFE, while MRK is seeing double the overall options volume typically seen at this point. Most popular for the former is the February 24 put, and for the latter it's the 110 call in that series leading the way, with new positions being opened at both.
