In regular trading, shares of Pfizer rose 1.58, or 4.57%, to 36.18. The stock gained another 32 cents to 36.50 in after-hours trading.

Shares of Circuit City Stores Inc. (CC: chart) jumped 13.39% after the No. 2 U.S. consumer electronics chain reported early Tuesday a first-quarter net loss on lower sales and higher store-remodeling costs, but beat analysts' lowered forecasts.

The company had a net loss of $43.9 million, or 21 cents a share, compared with a net income of $28 million, or 8 cents a share, a year ago. Analysts' latest average estimate was for a loss of 24 cents a share.

Earlier this month, Circuit City, second only to Best Buy Co. Inc. (BBY: chart), cut its guidance to a loss of 23 to 25 cents a share, which was significantly lower than the previous projection for a loss of 8 cents a share.

Total sales for the quarter ended May 31, 2003 sagged 9% to $1.93 billion from $2.12 billion in the same period last year. Same-store sales, or sales in stores open at least a year, dropped 10%. The electronics retailer blamed the drop in sales on significant declines in average retails due to rapid technology development in the industry and economic weakness.

Circuit City's finance operation, which consists mainly of its credit-card business, recorded a pretax loss of $22.1 million against a pretax profit of $20.4 million a year ago. The Richmond, Va.-based consumer electronics retailer previewed the loss earlier this month, noting that it reflects the securitization of $500 million in private-label credit-card receivables.

The company's quarterly financials were also hurt by remodeling and relocation costs of $16.5 million, up from $8 million in the comparable period a year ago.

Circuit City ended the quarter with $615.6 million in cash and cash equivalents, down 45% from the $1.11 billion it had in the prior-year quarter.

Circuit shares rallied 92 cents to close at 7.79 on the NYSE. The stock added another 2 cents to 7.81 in after hours.

Before the bell again, Pier 1 Imports Inc. (PIR: chart) released lower quarterly results as poor spring weather and a weak U.S. economy hurt sales. However, the figures were in line with analysts' expectations.

The home furnishings chain had a first-quarter net income of $19.1 million, or 21 cents a share, down from $22.2 million, or 23 cents a share, a year ago. Analysts polled by Thomson First Call had pegged it to earn 21 cents a share.

Revenue for the quarter ended May 31, 2003, rose 4.8% to $402.7 million from $384.4 a year earlier. Same-store sales declined 3.6%.

Looking ahead, the Fort Worth, Texas-based retailer still expects to earn between $1.45 and $1.50 a share for the full fiscal year. Analysts are calling for a profit of $1.46 a share.

Pier I said that 'projections for the second quarter remain cautious due to continuing uncertainties and tough sales comparisons to last year.' The company sees its second-quarter earnings coming at 21 to 25 cents a share, compared with a mean analysts' estimate of 24 cents a share.

The stock fell 70 cents, or 3.33%, to close at 20.35 on the NYSE.