Dow Dips Over 400 Points; Pfizer Earnings Top Estimates

Company Performance - Pfizer Inc. reported better-than-expected earnings for Q3 2025, with adjusted earnings of 87 cents, surpassing the consensus estimate of 63 cents, although down from $1.06 a year ago [2] - Pfizer's Q3 sales fell 6% year over year to $16.65 billion, slightly beating the consensus of $16.59 billion, reflecting an operational decline of 7% [2] - Pfizer raised its fiscal 2025 adjusted earnings guidance from a range of $2.90-$3.10 per share to $3.00-$3.15, compared to the consensus of $3.04 [3] Market Movements - Evoke Pharma, Inc. shares surged 135% to $10.74 after announcing a definitive agreement to be acquired by QOL Medical [9] - Denny's Corporation shares increased by 50% to $6.16 following the announcement of an all-cash acquisition deal valued at approximately $620 million, or $6.25 per share [9] - Prelude Therapeutics Incorporated shares dropped 56% to $1.7601 after signing an agreement for Incyte to acquire its JAK2V617F JH2 inhibitor program [9] - JELD-WEN Holding, Inc. shares fell 38% to $2.61 after reporting worse-than-expected Q3 financial results and cutting its FY25 guidance below estimates [9]