NYSE:BMYPharmaceuticals
Bristol Myers Squibb (BMY) Stock Shrugs Off Profit Surge And Patent Risk
Bristol-Myers Squibb stock barely flinched after earnings, closing up just 0.7% to US$65.31, yet the results carried far more weight than that muted move suggests. The company reported Q2 revenue of about US$13.0b and non GAAP diluted earnings per share of US$2.04, and also raised full year guidance on both revenue and earnings.
The market reaction looks cautious for a company relying on a stronger profit engine. Q2 net income of US$3.3b and a richer mix from the growth portfolio put the...