We share some of your disappointment in some of the news reported today, ... Beyond the quarterly numbers, we ask you to look at the greater picture of a Pfizer in transition.

It was bad news, causing disappointment.

Though this news is clearly a disappointment, we believe that the damage is largely done and the 10 percent decline in the stock price fully compensates for the approximately 8 percent reduction in the earnings outlook for next year.

There may be some short-term disappointment today that investors are going to have to wait until the end of 2006 at the earliest for this separation to take place.

We really felt that with the disappointment of the Texas trip that our season started today.

Fortunately, this happened in a strong economy, ... But I don't think anyone would say it will be positive.