Everyone hates Pfizer (PFE 19.07). But they reported good earnings today, beating estimates by a penny, and PFE said they expect adjusted earnings of $2.35-$2.45 for 2008.
Net out their debt and Pfizer has $2 a share of cash, a AAA rating, and a dividend rate of almost 7%.
No one thinks the stock can move. Last week, no one thought the financials could move, and no one thought oil would go down, and no one thought managed care would move.
I guess "no-one" was wrong!
I think Big Pharma, and the health stocks are going to be re-priced upwards by the market.
The September 20 calls on PFE are just .33. PFE may be boring, but if it moves a couple points, you make 300% on your money.