Pfizer falls on 1Q13 earnings that miss Street

Shares of Pfizer Inc. (NYSE:PFE) slid $1.36 to $29.07 on Tuesday after the pharma reported 1Q13 revenues and adjusted diluted EPS that missed the Street's estimates. The move translates to a $9.8 billion market cap loss for a closing valuation of $209 billion. Pfizer reported 1Q13 adjusted diluted EPS of $0.54, missing by $0.02 the Street's estimate of $0.56 and down 5% from $0.57 in 1Q12. First quarter revenues were $13.5 billion, missing the Street's estimate of $14 billion and down 9% from $14.9 billion in 1Q12. The pharma attributed the EPS and revenue declines to the loss last year in Europe of exclusivity for cholesterol drug Lipitor atorvastatin, as well as the unfavorable impact of foreign exchange rates. ...