Pfizer Responds To Positive Barron's Article

Pfizer Inc. PFE shares are trading higher bu $1 at $34.82 in Monday's session. Over the weekend, Barron's published a positive article on the issue, citing its 80 drugs in the pipeline as a primary catalyst for a move higher. After a higher open, it retreated only $0.02 to $34.15 before continuing to move higher. So far, it has found resistance just above Friday's high ($34.90), reaching $34.98 and is trading far off that level. Last week. The issue posted an 11 year in July 31 ($36.46). Last week it reached its $36.07, before retreating to $33.72 on Friday, as rumors surfaced the company may be pursuing a takeover of Allergan AGN. Joel Elconin is the co-host of Benzinga;s #PreMarket Prep, a daily trading idea radio show.

Do you like this article? Do you have suggestions for improvement? Please email feedback@benzinga.com