Pfizer and Merck Top Quarterly Earnings Expectations, Shares Rise

Shares of Pfizer and Merck are rising in Tuesday trading after both pharmaceutical companies reported quarterly results that beat estimates.
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Shares of Pfizer and Merck are rising in Tuesday trading after both pharmaceutical companies reported quarterly results that beat estimates. Pfizer's adjusted earnings of 58 cents a share still beat analyst expectations by a penny, according to Thomson Reuters. But BMO Capital Markets analyst Alex Arfaei is concerned about the potential for Pfizer's key products to continue to drive growth. Also, Merck's earnings of 85 cents a share, excluding items, topped analyst estimates of 81 cents. Results were driven by consumer care, HIV drug and arthritis treatment sales. J.P. Morgan analyst Chris Schott notes that Merck's pipeline is one factor contributing to improved growth prospects for the company. TheStreet's Brittany Umar has details from New York.