BMY - Bristol-Myers Squibb Company

NYSE - NYSE Delayed Price. Currency in USD
44.45
+0.26 (+0.59%)
At close: 4:00PM EDT

44.50 +0.05 (0.11%)
Pre-Market: 8:50AM EDT

Stock chart is not supported by your current browser
Previous Close44.19
Open44.15
Bid44.50 x 900
Ask44.55 x 4000
Day's Range44.08 - 44.51
52 Week Range43.81 - 63.69
Volume10,078,527
Avg. Volume13,547,480
Market Cap72.708B
Beta (3Y Monthly)0.73
PE Ratio (TTM)14.16
EPS (TTM)3.14
Earnings DateJul 25, 2019
Forward Dividend & Yield1.64 (3.71%)
Ex-Dividend Date2019-07-03
1y Target Est55.63
Trade prices are not sourced from all markets
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  • Markityesterday

    See what the IHS Markit Score report has to say about Bristol-Myers Squibb Co.

    Bristol-Myers Squibb Co NYSE:BMYView full report here! Summary * Perception of the company's creditworthiness is positive * Bearish sentiment is moderate and increasing * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | NeutralShort interest is moderate for BMY with between 5 and 10% of shares outstanding currently on loan. This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on July 12. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold BMY had net inflows of $8.49 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Healthcare sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. BMY credit default swap spreads are near the lowest level of the last one year and indicate improvement in the market's perception of the company's credit worthiness.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.

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  • Gilead to Boost Stake in Galapagos as Part of $5.1 Billion Deal
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    (Bloomberg) -- Gilead Sciences Inc. agreed to pay $5.1 billion to raise its stake in biotechnology company Galapagos NV to deepen its research into inflammatory diseases and other disorders, sending the Belgian drugmaker’s stock to an all-time high.The deal is the largest Gilead has executed since new Chief Executive Officer Dan O’Day took the reins in March as he attempts to bolster the San Francisco giant’s drug pipeline. Gilead is in danger of becoming a victim of its own success after launching some of the top drugs of all time, its bestselling hepatitis-C franchise. Sales from those therapies have since declined due to increased competition.Under the agreement, Gilead, which will pay $3.95 billion upfront to Mechelen, Belgium-based Galapagos and invest $1.1 billion to raise its stake to 22% from 12.3%, the companies said in a statement. The investment, at 140.59 euros a share, is 9.7% higher than the Belgian company’s closing price on Friday. Galapagos shares surged as much as 17% on Monday, reaching 149.55 euros a share.“Gilead will significantly expand its pipeline in a smart and financially savvy expanded partnership deal with Galapagos, essentially gaining options on everything in their pipeline without having to acquire the company full out,” Jefferies analysts including Michael J. Yee and Andrew Tsai wrote in a note.As Gilead seeks to fill the growing hole left from its hepatitis drugs, the Galapagos announcement may signal a shift in focus. The smaller biotech has no oncology programs and instead focuses on research into diseases that have to do with inflammation and fibrosis, which is a kind of internal scarring.Gilead has also had research programs in such diseases, including through its collaboration with Galapagos, though some had speculated it may stake its future on cancer. Gilead is already the biggest shareholder of the Belgium company before the increase in stake, according to data compiled by Bloomberg. Now it gets the option to license all of Galapogos’s future, late-stage drug candidates.Gilead CEOO’Day, who joined Gilead from cancer giant Roche AG, said he’s not done making good on his promise to expand the pipeline. He noted the deal almost doubles Gilead’s research capacity and establishes a strong research base in Europe where the company has historically not been as active.“In no way is this the only thing that we’re looking at or the only thing that we’re going to do,” O’Day said in an interview. “You can look at this like it’s the beginning.”Gilead and Galapagos held talks about an expanded partnership prior to O’Day joining the company. He was briefed on those discussions after taking the top job and within the first couple of weeks, got to know the CEO of Galapagos better. Following those talks, the pair decided to being finalizing the agreement.Jobs in EuropeThis is a “science-driven deal,” Onno van de Stolpe, founder and chief executive officer of Galapagos, said in an interview. Gilead will be taking on more of the commercial side for Galapagos, helping the smaller company to focus on research. “We can now do more of what we’re good at.”The money being invested beyond the equity stake will be used largely to double Galapagos’s R&D staff to 1,000 from 500 over an unspecified time, Van de Stolpe said. Those jobs will be added in Belgium, the Netherlands and France. “It’s massive funding -- we don’t have a detailed plan yet on how to spend it,” he said.The pact includes a provision in which Gilead’s stake could rise to 29.9%, if Galapagos shareholders approve two warrants. The companies were already partners on an experimental drug for rheumatoid arthritis. That drug, filgotinib, hit its main goal in a late-stage study in March, triggering the Belgian biotech company’s shares to surge by the most in six months.Galapagos shares have risen 59% since the start of the year, compared with the 5.9% gain in Gilead’s stock.O’Day had a reputation as a dealmaker while at Roche, likely one of the reasons he was selected for Gilead’s top job at a time when the company needs to look externally to drive growth. He said that in this case, the companies opted for a partnership-style deal rather than a full takeover because full mergers can often destroy innovation as research and executive teams disband. Roche’s deal philosophy is much the same with the Swiss giant opting to leave many its units independently managed, even if it owns them in full.Gilead spent about $12 billion to buy Kite Pharma in 2017 for its research into a cutting-edge therapies known as CAR-T. While the treatments can prove near-miraculous for some patients, CAR-Ts have yet to become large sales drivers, falling far below the revenues Gilead needs to replace declining sales from its hepatitis-C franchise.Gilead is not the only large company with fading blockbusters. In June, AbbVie agreed to buy Allergan in a $63 billion megadeal in a bid to replace its bestselling Humira, the bestselling drug in the world. Celgene Corp. faced similar questions as the patent of its bestselling cancer drug aged before Bristol-Myers Squibb agreed to buy it for $74 billion in January.To contact the reporters on this story: Eric Pfanner in London at epfanner1@bloomberg.net;Rebecca Spalding in Boston at rspalding@bloomberg.netTo contact the editors responsible for this story: James Ludden at jludden@bloomberg.net, ;Drew Armstrong at darmstrong17@bloomberg.net, Kevin Miller, Linus ChuaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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    It's not terribly easy out there for income investors at the moment. Dividend stocks to buy are tough to find. Equity markets are at all-time highs, meaning valuations are stretched -- and dividend yields are lower. Treasury yields have fallen amid expectations for a Fed rate cut: getting income from bonds is no easy task, either.Many longtime dividend growth stalwarts -- think McDonald's (NYSE:MCD) or Procter & Gamble (NYSE:PG) -- trade at all time highs. Those that aren't seem to be struggling, with the likes of General Electric (NYSE:GE), Kraft Heinz (NASDAQ:KHC), and Anheuser-Busch (NYSE:BUD) all cutting their dividends in recent years. Finding the middle ground -- an attractive valuation combined with a solid business -- is exceedingly difficult right now.Given lower commissions, investors can sell off small parts of their holdings for income -- most of which should have appreciated nicely in this decade-long bull market. But income investors usually are looking for "set it and forget it" dividend stocks to buy, not constant portfolio trading.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Stocks to Sell for an Economic Slowdown These 10 stocks don't quite qualify as "set it and forget it" plays. All have some degree of risk. But the risks seem worth taking for the potential rewards, which include near-term income, longer-term growth, and potential capital appreciation. As such, investors should take at least a long look at these 10 dividend plays. Broadcom (AVGO)Dividend Yield: 3.8%Broadcom (NASDAQ:AVGO) requires quite a bit of trust in management. The semiconductor giant has been built through acquisitions. As of late, AVGO has started moving away from chips and into software.Last year, the company acquired CA Technologies, an enterprise software play with a big presence in mainframe applications. Broadcom is now reportedly in talks to take over security play Symantec (NASDAQ:SYMC).Investors haven't particularly liked either deal. AVGO stock fell on the news of the CA deal. It has slipped again as reports of the Symantec acquisition leaked. But CEO Hock Tan certainly deserves the benefit of the doubt at this point. And the decline after the CA announcement, in particular, proved a buying opportunity: before the recent pullback, AVGO shares had risen some 50% in roughly a year.AVGO may not provide that type of return over the next year -- but there's still a nice bull case here on another merger-related dip. AVGO yields 3.8%. The Symantec deal will add to the company's significant free cash flow, which keeps that yield secure. Diversification in the existing chip business limits the cyclical impact on earnings -- and AVGO shares. Investors do have to trust Hock Tan at this point -- but history shows they probably should. Kellogg (K)Dividend Yield: 4%On its face, Kellogg (NYSE:K) seems like a safe value play for income investors. Shares of the iconic American company trade for just 13x 2020 EPS estimates. Kellogg's dividend yields just over 4%. K historically has been a defensive stock, providing protection if the broader economy stumbles.But K stock is actually dangerous at this point. It's one of many consumer stocks struggling to adapt to a new reality, as I detailed last year. Grocers like Kroger (NYSE:KR) are looking to private-label and own brands to protect their thin margins. Cereal demand is falling. As a result, Kellogg's earnings are heading in the wrong direction.Revenue is guided to increase just 1-2% this year excluding the impact of currency and the company's divestiture of several smaller brands. Adjusted operating income, on the same basis, is expected to be roughly flat. Guidance suggests overall non-GAAP earnings per share will decline more than 10% year-over-year.In other words, Kellogg isn't a defensive stock at this point. It's a turnaround play. And like with KHC and BUD, that creates downside risk if the turnaround stumbles.For investors who understand the risks, however, K stock is intriguing. As Barron's detailed just last week, the company's Morningstar Farms business seems notably undervalued. It's larger by revenue than Beyond Meat (NASDAQ:BYND), which has soared to a $10 billion market cap. Kellogg (including debt) is valued at just $28 billion; a sale or IPO of Morningstar could unlock significant value. * 7 Retail Stocks to Buy for the Second Half of 2019 Again, this is not the traditional, low-risk, dividend stock it used to be. But if Kellogg can jumpstart growth and monetize Morningstar, K stock could have enormous upside ahead. Gap (GPS)Dividend Yield: 5.4%The case for Gap (NYSE:GPS), particularly with the stock threatening a seven-year low, is that investors are missing the real story here. As I wrote back in November, Gap stock isn't about its Gap brand; it's about Old Navy, which likely generates somewhere in the range of three-quarters of operating profit.With Gap planning to spin off Old Navy later this year, that value might be unlocked. In the meantime, GPS stock yields 5.4%, a figure that might rise after the split.There are risks here, to be sure. Luke Lango called GPS stock one of the six worst in the S&P 500 in the first half -- and he's not wrong. GPS shares have plunged.Old Navy's sales performance in the last two quarters have not been particularly impressive. Sales for the Gap brand continue to decline. In fact, analysts asked repeatedly on the Q1 conference call if the spin-off would still move forward: there's a risk that Gap and Banana Republic might not be enough to support a standalone company, even with growth from athleisure concept Athleta.Even a weaker-than-expected Old Navy still likely supports the entire valuation of GPS stock at the moment. The balance sheet is in good shape, and free cash flow continues to be impressive. Income investors can get yield now -- and if all goes well, by next year own growth at Old Navy and income from the company's other brands. SL Green (SLG)Dividend Yield: 4.2%REITs (real estate investment trusts) like SL Green (NYSE:SLG) long have been income investors favorites. REITs allow for diversified exposure to real estate. They offer tax benefits as well: as long as they pay out 90% of taxable income, they pay no tax at the corporate level.In an environment where 10-year Treasury bonds are yielding barely 2%, however, investors looking for dividend stocks to buy have the same difficulty in REITs as in the rest of the market. High-yield REITs generally have some flaws; most notably, even the best retail REITs like Simon Property Group (NYSE:SPG) and Macerich (NYSE:MAC) have struggled amid long-term concerns about demand. The more attractive plays, meanwhile, have been bid up as investors look for lower-risk yield.SL Green might be a nice middle ground. The stock has struggled for years now; in fact, it touched a five-year low late last year. Worries about the health of New York City real estate seem to be the culprit. Weakness in the company's suburban assets hasn't helped, either. * 10 Best Stocks for 2019: A Volatile First Half But SL Green largely has exited the suburban business, refocusing on Manhattan. The dividend continues to rise. And longer-term, NYC still seems an attractive real estate market. With a 4.2% dividend, SLG provides attractive income. At 12x FFO (funds from operations, a typical REIT metric), it could provide upside as well if sentiment toward Manhattan real estate improves. Avista (AVA)Dividend Yield: 3.48%Utility stocks like Avista (NYSE:AVA) are another common area of focus for income investors. And like REITs, valuation is a question mark: the Utilities SPDR (NYSEARCA:XLU) is up 16% over the past year, a big move for a traditionally low-volatility sector.But AVA looks like one of the more attractive picks in the industry at the moment. The stock plunged late last year after a potential acquisition by Canada's Hydro One (OTCMKTS:HRNNF) was called off. Slowly but surely, however, dip-buyers have entered -- and there could be more buying ahead.Avista provides a solid 3.48% dividend yield. Its markets in Washington State, Idaho, and Montana are seeing strong population growth. Valuation is reasonable, and AVA still sits back at 2016 levels.It's likely the Hydro One deal -- announced in 2017 -- led to some dislocation among Hydro One's investor base. If that's the case, there's an opportunity for AVA to catch up to the rest of its sector as income investors return to the story. International Game Technology (IGT)Dividend Yield: 6%The risks facing International Game Technology (NYSE:IGT) are almost self-evident. Gaming stocks traditionally struggle in recessions. Suppliers like IGT generally aren't hit quite as hard, and the company's lottery business should provide support if the economy turns. But there is a decent amount of cyclical risk here.A good chunk of the company's profit comes from Italy, where economic growth has been stagnant and political risk seems high. The U.S. slot business has lost market share to smaller operators like Aristocrat Leisure (OTCMKTS:ARLUF) and PlayAGS (NYSE:AGS). On top of all that, IGT has nearly $7 billion in debt. The 6% yield here is attractive -- but on its own not reason enough to buy IGT stock.That said, there are reasons to buy, and in fact I personally own IGT shares. Free cash flow should ramp in the next two years, as the company moves past upfront payments required to maintain its concessions in Italy. The lottery business throws off cash as well. Debt should come down, and the U.S. slot business is showing signs of improvement. * 7 A-Rated Stocks to Buy for the Rest of 2019 The rewards here are enormous as well. As I wrote last month, Wall Street sees huge upside for IGT. The average target price near $21 is 56% higher than IGT's current price. If IGT can get the U.S. business back on track and use the cash flow from Italy to pay down debt, its stock could have a big move ahead. State Street (STT)Dividend Yield: 4%State Street (NYSE:STT) is a clear "value trap or value play?" argument at the moment. For the last 18 months, investors have made their thoughts clear: STT stock has dropped by roughly 50%.And State Street is fighting headwinds. The company rolled out the first ETF -- the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) -- but has since been passed by Vanguard and BlackRock (NYSE:BLK) in that key business. The same shift to passive investing driving ETF growth has pressured the company's asset management business. In Q1, fee revenue declined 4% year-over-year; earnings per share declined 27%.Cost-cutting simply hasn't done quite enough to protect margins, leading to the recent pressure on STT stock. But at this point, there's a question as to whether the sell-off simply has gone too far. STT stock is quite cheap, at less than 8x 2020 EPS estimates. Price-to-book has dipped below 1x for the first time in over five years.Meanwhile, a recent dividend hike moves the yield near 4%, and STT will repurchase $2 billion worth of stock as well. State Street has to find a way to manage pressure on its custody and management businesses -- but if it can, there's potential for a big reversal in STT stock. CVS Health (CVS)Dividend Yield: 3.6%Source: Shutterstock CVS Health (NYSE:CVS) has had a rough go of it in recent years. In March, CVS stock touched its lowest level in almost six years, and it has re-tested those lows several times since. The acquisition of Aetna is under review even after it closed. Lower reimbursement rates and reduced savings on generic drugs are pressuring the entire pharmacy sector: rivals Walgreens (NASDAQ:WBA) and Rite Aid (NYSE:RAD) are struggling as well.But as I wrote this week, to at least some extent all of those headwinds seem priced in. CVS stock trades at historically low multiples. There are still benefits to come from the company's efforts to change healthcare, and the integration of Aetna with its existing pharmacy business. * 7 Retail Stocks to Buy That Are Down in 2019 The headwinds are real, and the sell-off in CVS stock does make some sense. But this remains an attractive business that is now priced for steady declines going forward. It will take little in the way of an upside surprise for CVS to outperform expectations -- and for CVS stock to claw back at least some of its recent losses. BP (BP)Dividend Yield: 6%For BP (NYSE:BP), the case is reasonably simple. BP is the integrated energy company with the best dividend yield, which currently nears 6%. With liabilities relating to the Deepwater Horizon tragedy finally behind the company, cash flow and earnings will improve as BP gets back to "normal."That's a case I've made for some eighteen months now -- and it still holds. Oil price movements might seem a risk -- but BP's downstream businesses benefit from lower crude prices, which mitigates that effect somewhat. In this market, BP stock might even be considered among the safer plays out there, as counterintuitive as that sounds. For a 6% yield the modest risks here seem worth taking. Bristol-Myers Squibb (BMY)Dividend Yield: 3.6%Pharmaceutical companies, too, used to be a safe haven for income investors. They generally offered dividend yields of at least 2% -- and protection from market and economic downturns. That's no longer the case, however -- which highlights the potential risk in Bristol-Myers Squibb (NYSE:BMY).U.S. companies, in particular, have struggled to find blockbusters. As a result, patent expirations on key product lead companies to search for growth however it can be found. For Bristol-Myers Squibb, products like Orencia (which treats rheumatoid arthritis) and blood thinner Eliquis are losing their protection shortly. And so the company went and acquired biotechnology major Celgene (NASDAQ:CELG).Unfortunately for BMY stock, investors hated the deal. BMY shares dropped 13%. They liked it less when Bristol-Myers announced last month that it would divest psoriasis treatment Otezla as required by regulators. BMY once again threatened a six-year low.But at this point, BMY is starting to look attractive. Even if the company overpaid for Celgene, to some extent that's baked into the stock price. The dividend yield now sits at 3.6% -- and could rise once the acquisition is completed. A 10x forward P/E multiple will come down as well.Pharma stocks are riskier than they used to be -- especially for those using debt to drive growth. Mallinckrodt (NYSE:MNK) is a good example of how pharmaceutical M&A can go terribly wrong. But Bristol-Myers Squibb's diversified base and long history suggest the downside shouldn't be that steep. And as Celgene comes on board and growth returns, investors might again start focusing on the potential rewards.As of this writing, Vince Martin is long shares of Gap Inc. and International Game Technology. He has no positions in any other securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell for an Economic Slowdown * 7 Marijuana Penny Stocks That I May Buy * 7 of The Best Schwab ETFs for Low Fees The post 10 Best Dividend Stocks to Buy for the Rest of 2019 and Beyond appeared first on InvestorPlace.

  • 4 Drug Stocks Getting Smashed
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    4 Drug Stocks Getting Smashed

    U.S. equities were hitting new record highs, with the Dow Jones Industrial Average topping 27,000 for the first time ever while the S&P 500 hits 3,000. The catalyst is an all too familiar one: The promise of more cheap money from the Federal Reserve, with chairman Jerome Powell strongly signaling a rate cut later this month in response to uneven economic data.But the gains are being trimmed in mid-day trading after a strong inflation report suggests the U.S.-China trade spat is starting to have an impact on import prices. And higher inflation would undermine the Fed's desire to lower rates. Stocks, obviously, wouldn't react well to that. * 10 Stocks to Sell for an Economic Slowdown A number of big drug stocks are getting hit amid the pullback on reports the Trump Administration has pulled its plan to eliminate rebates from government drug plans. Had this rule gone through, drug stocks would've been relatively unaffected. Investors now fear the administrations next move to try to lower drug prices. Here are four drug stocks to sell on the news:InvestorPlace - Stock Market News, Stock Advice & Trading Tips Pfizer (PFE) Click to EnlargePfizer (NYSE:PFE) shares are dropping hard out of a four-month uptrend threatening to cut below both its 50-day and 200-day moving averages. This comes after the stock bonked on resistance from its December high and remains mired in a sideways range that has been in play since last summer.The company will next report results on July 30 before the bell. Analysts are looking for earnings of 75 cents per share on revenues of $13.4 billion. When the company last reported on April 30, earnings of 85 cents per share beat estimates by 10 cents on a 1.6% rise in revenues. Eli Lilly (LLY) Click to EnlargeShares of Eli Lilly (NYSE:LLY) are falling down and out of a four month consolidation range, returning to levels not seen since December. This caps a decline of more than 15% from the highs hit in late March. With the 50-day and 200-day moving averages already lost, watch for a drop down to mid-2018 support near $105, which would be worth a loss of another 4% from here. * 3 Forgotten Tech Stocks Worth Remembering The company will next report results on July 30 before the bell. Analysts are looking for earnings of $1.45 per share on revenues of $5.6 billion. When the company last reported on April 30, earnings of $1.33 per share matched expectations on a 2.6% rise in revenues. Merck (MRK) Click to EnlargeMerck (NYSE:MRK) shares are dropping hard and fast away from the two-month consolation range that capped a nice 20% rally off of its 200-day moving average. The stock has gained more than 50% from the lows seen in early 2018 and a ripe for a significant profit taking pullback -- likely resulting in a revisiting of the April lows.The company will next report results on July 30 before the bell. Analysts are looking for earnings of $1.16 per share on revenues of $10.9 billion. When the company last reported on April 30, earnings of $1.22 per share beat estimates by 17 cents on a 7.8% rise in revenues. Bristol-Myers Squibb (BMY) Click to EnlargeShares of Bristol-Myers Squibb (NYSE:BMY) have returned to lows near $44 that have been tested multiple times in a pattern going back to early 2017. The range is rather wide, with prices down more than a third from the highs hit in February 2018. The company is continuing to work with regulators to waylay concerns over its proposed acquisition of Celgene (NASDAQ:CELG). * 10 Best ETFs for 2019: The Race for 1 Intensifies The company will next report results on July 25 before the bell. Analysts are looking for earnings of $1.06 per share on revenues of $6.1 billion. When the company last reported on April 25, earnings of $1.10 beat estimates by two cents on a 14% rise in revenues.As of this writing, William Roth held no positions in the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Sell for an Economic Slowdown * 7 Marijuana Penny Stocks That I May Buy * 7 of The Best Schwab ETFs for Low Fees The post 4 Drug Stocks Getting Smashed appeared first on InvestorPlace.

  • Megadeals Enter Biotech Realm — And 3 Other Trends To Watch In 2019
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