Pfizer, Merck, and Caterpillar Boost Stocks with Strong Earnings Reports

Pfizer and Merck posted impressive second-quarter earnings that surpassed analyst expectations. Pfizer's stock rose in premarket trading after it reported an adjusted profit of $0.77 per share, exceeding the anticipated $0.68 per share. Revenues reached $15.03 billion, outpacing forecasts of $14.41 billion.

Merck also beat expectations with a loss of 13 cents per share on revenue of $16.61 billion. Analysts had predicted a deeper loss of 27 cents per share with lower expected revenues of $16.36 billion.

Caterpillar experienced an 8% surge in stock value after reporting second-quarter figures that outperformed analyst predictions. The industrial company announced an adjusted profit of $8.17 per share on revenues of $20.54 billion.