Bristol-Myers surprises Street

Investor's Business Daily

The drugmaker's Q2 earnings rose 9% to 48 cents a share, beating by 4 cents. Revenue fell 4% to $3.89 bil, topping estimates for $3.85 bil. Bristol-Myers Squibb (BMY), which is moving away from mainly making pills to treat everyday illnesses to developing complex, expensive drugs for cancer and rare disorders, guided full-year '14 EPS to $1.70-$1.80, with the midpoint below estimates for $1.77. Shares rose 0.3% to 49.46.

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