45.56 -0.08 (-0.18%)
After hours: 7:44PM EDT
|Bid||45.61 x 1400|
|Ask||45.58 x 1000|
|Day's Range||44.54 - 45.75|
|52 Week Range||44.30 - 63.69|
|Beta (3Y Monthly)||0.87|
|PE Ratio (TTM)||15.16|
|Forward Dividend & Yield||1.64 (3.44%)|
|1y Target Est||N/A|
Earnings for pharmaceutical giants AbbVie and Bristol topped first-quarter estimates in reports issued Thursday. AbbVie and Bristol stocks both rose but are in long downtrends.
Bristol-Myers Squibb earnings for the first quarter of 2019 have BMY stock up on Thursday.Source: A 4 via Flickr Bristol-Myers Squibb (NYSE:BMY) reported earnings per share of $1.10 for the first quarter of 2019. This is up from the company's earnings per share of 94 cents from the same time last year. It was also a boon to BMY stock by beating out Wall Street's earnings per share estimate of $1.09 for the period.The Bristol-Myers Squibb earnings report for the first quarter of the year also has net income coming in at $1.72 billion. The American pharmaceutical company reported net income of $1.50 billion in the first quarter of 2018.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBristol-Myers Squibb earnings for the first quarter of 2019 also include revenue of $5.92 billion. This is an increase over the company's revenue of $5.19 billion reported in the same period of the year prior. It was also a blessing for BMY stock by coming in above analysts' revenue estimate of $5.75 billion for the quarter.Bristol-Myers Squibb also provides its outlook for the full year of 2019 in its most recent earnings report. The company says that it is expecting earnings per share for the year to range from $4.10 to $4.20. Wall Street is looking for the company to report earnings per share of $4.18 for the full year of 2019. * 7 Dividend Stocks That Could Double Over the Next Five Years The Bristol-Myers Squibb earnings report for the first quarter of 2019 also includes an update concerning Celgene (NASDAQ:CELG). The company says that it now has approval from its shareholders to move forward with the acquisition plan.BMY stock was up 1% as of Thursday afternoon, but is down 14% since the start of the year. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks That Could Double Over the Next Five Years * 6 S&P 500 Stocks Ready to Break Out * 5 Mining ETFs to Dig Into As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Bristol-Myers Squibb Earnings: BMY Stock Pops on Q1 Beat appeared first on InvestorPlace.
The big drugmaker beat Wall Street estimates in the first quarter thanks to solid sales growth for its top blockbusters.
Pfizer (NYSE:PFE) stock has missed out on the exuberant bull market this year, as the indexes have hit all-time highs, but Pfizer stock has fallen about 10% in 2019.Source: Shutterstock Then again, the company's growth has been lagging, and PFE has felt pressure from Washington, DC to reduce its drug prices.But next week we'll get more information on the status of the company, as it will report its first-quarter results. They will be announced on Apr. 30 before the market opens.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Dividend Stocks That Could Double Over the Next Five Years Analysts' expectations for Pfizer stock are fairly muted. For the quarter, on average they predict that its revenues will be $13 billion and its earnings will be 75 cents per share of Pfizer stock By comparison, in the same period a year ago, its revenues were $12.9 billion and its earnings were 77 cents per share.It's important to keep in mind that, when PFE last reported its financial results, it provided full-year revenue guidance of $52 billion to $54 billion. Last year, its top line came in at $53.6 billion.The big issue for Pfizer stock has been its pain killer, Lyrica. This drug, which generated close to $5 billion of revenue last year, will lose its patent protection in June. Moreover, the sales of a number of PFE's other drugs have slowed this year.But PFE's pipeline does look promising, creating potential positive catalysts for PFE stock. Last quarter, the company announced several positive catalysts involving its pipeline. Specifically: * Pfizer and Bristol-Myers Squibb (NYSE:BMY) have been developing a new version of Eliquis, which has been shown to effectively treat the bleeding of heart attack patients. A recent study of Eliquis indicated that its efficacy in this area was significantly better than that of a warfarin combination. * The FDA granted a Breakthrough Therapy Designation for Pfizer's 20-Valent Pneumococcal Conjugate Vaccine (20vPnC). The treatment is supposed to prevent people from getting pneumonia, and it appears to be much more effective than the vaccines that are currently on the market. * The European Commission approved VIZIMPRO, which is a treatment for locally advanced or metastatic non-small cell lung cancer (NSCLC). * In Q1, Pfizer continued its big push into the gene-therapy market. The company announced that it had created a partnership with Vivet Therapeutics. The companies will focus on developing a treatment for Wilson disease , a rare condition that leads to copper poisoning. * The FDA approved Pfizer's TRAZIMERA, a treatment for breast cancer.Going forward, a number of Pfizer's major drugs, including Xeljanz and Ibrance., should be approved as treatments for additional diseases. Furthermore, the sales of several other Pfizer treatments -including atopic dermatitis treatments tafamidis and abrocitinib, as well as pain medication tanezumab - could surge tremendously. The Bottom Line on Pfizer StockPfizer stock is trading at reasonable levels, as its forward price-earnings ratio is below 13. That's in-line with the valuations of other mega pharma operators like Merck (NYSE:MRK) and GlaxoSmithKline (NYSE:GSK).Pfizer also has a long history of being shareholder-friendly. The dividend yield of PFE stock is 3.4% and the company continues to buyback large amounts of Pfizer stock. PFE bought back $12.2 billion of PFE stock last year.However, there probably will not be any near-term catalysts for PFE stock. The political pressure will remain an overhang on Pfizer stock, especially as we get closer to the presidential election. Meanwhile, it will take some time for the company's pipeline to boost its revenue and profits. As a result, investors shouldn't rush to buy Pfizer stock.Tom Taulli is the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks That Could Double Over the Next Five Years * 6 S&P 500 Stocks Ready to Break Out * 5 Mining ETFs to Dig Into Compare Brokers The post Pfizer Stock Has Positive and Negative Catalysts Going Into Results appeared first on InvestorPlace.
posted stronger than-expected first quarter earnings Thursday, and boosted one of its key profit forecast, after seeing off an activist challenge to its $74 billion takeover of cancer specialist Celgene Corp. Group revenues, Bristol-Myers said, rose 14% to $5.9 billion, again topping forecasts of $5.72 billion. Looking into 2019, Bristol-Myers boosted its GAAP earnings forecast to between $3.84 and $3.94 per share and said it sees a gross margin of around 70% of revenues.
Exelixis' (EXEL) first-quarter 2019 results are expected to benefit from increase in Cabometyx sales. Investors will focus on other pipeline updates as well.
Here's a roundup of top developments in the biotech space over the last 24 hours. None of the biotech stocks hit 52-week highs Wednesday. Down In The Dumps (Biotech stocks hitting 52-week lows on April ...
Bristol-Myers Squibb Co. on Thursday reported first quarter profit of $1.71 billion. The New York-based company said it had net income of $1.04 per share. Earnings, adjusted for one-time gains and costs, ...
Just one day after stocks logged their best-ever close, the bulls backed down. By the time the closing bell rang, the S&P 500 had fallen 0.22% to end the session at 2,927.25, almost closing at its low for the day.Source: Allan Ajifo via Wikimedia (Modified)AT&T (NYSE:T) did a great deal of that damage, falling a little more than 4% after first-quarter numbers fell short of expectations. Its TV business was a particularly sore spot, though its wireless arm wasn't exactly stellar last quarter either. Snap (NYSE:SNAP) technically lost more ground though, ending the day down a bit more than 6% after surging in response to a surprisingly progressive first quarter.There were some winners, albeit few and far between. Anadarko Petroleum (NYSE:APC) rallied another 11% after Occidental Petroleum (NYSE:OXY) made a bid that topped the previous acquisition offer from Chevron (NYSE:CVX).InvestorPlace - Stock Market News, Stock Advice & Trading Tips * The 10 Best Cheap Stocks to Buy Right Now The indecisive environment means traders would be wise to choose prospects carefully and pick names from both sides of the bullish/bearish fence. The stock charts of Norfolk Southern (NYSE:NSC), Bristol-Myers Squibb (NYSE:BMY) and Discovery Communications (NASDAQ:DISCA) make for a good place to start that open-minded search. Discovery Communications (DISCA)Just a few weeks ago, Discovery Communications shares were in fairly serious trouble. Resistance had been met multiple times at multiple moving average lines, and a so-called 'death cross' had taken shape. The stock was just one bad day away from a meltdown.That disaster has been avoided though. In fact, the rebound effort from two weeks ago has been confirmed and strengthened this week by virtue of support provided by a couple of those key moving average lines. Click to Enlarge * The confirmation of the new uptrend is yesterday's brush of the white 200-day moving average line. DISCA stock only had to kiss it to surge higher, renewing the cross above the long-term line in early April. * The weekly chart puts matters in more perspective. Although erratic, the rally that got going in March was spurred by a fresh encounter with a support line that tags all the key lows going back to late 2017. * As tempting as it may be to want to use a prior peak as a potential ceiling, or upside target, this may not be a case where those levels serve as reliable, or even likely, stopping points for any advance. Norfolk Southern (NSC)Railroad name Norfolk Southern had a terrific run from its late-December lows, outpacing most other stocks. All good things must come to an end though, and a couple of red flags started to wave for NSC stock yesterday. * 10 Monster Growth Stocks to Buy for 2019 and Beyond Click to Enlarge * The shape of Tuesday's bar is telling. The open and close near the low of a relatively tall bar suggests an intraday transition from a net-buying to a net-selling environment. * Bolstering the bearish case here is the gap left behind by yesterday's jump. Generally speaking, gaps tend to get filled in. In this case, the sheer size of the four-month rally adds weight. * Zooming out to the weekly chart we can see Norfolk Southern shares kissed a long-established resistance line on Wednesday, becoming overbought, as highlighted by the RSI's move above 70. Bristol-Myers Squibb (BMY)When we last looked at Bristol-Myers Squibb back on April 8, it was trying to move lower, but had thus far been unable to push under a technical support level around $46.That's no longer the case, though there's a new support line now in play. Even so, the backdrop suggests there's already a great deal of bearish momentum in place. If the current technical floor breaks, there's nothing left to stop the next round of selloffs. Click to Enlarge * While the previous floor around $46, marked with a yellow dashed line on both stock charts, is broken, the current one at $44.31 marked with a red dashed line is nothing to dismiss. * While not yet under a major floor, note the swell of selling volume seen since March. This is a new development; the more the stock slumps, the more investors trickle out. * Even if support around $44.31 breaks, it's likely we'll continue to see some wide ebbs and flows that make for nice swing-trading opportunities.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks That Could Double Over the Next Five Years * 6 S&P 500 Stocks Ready to Break Out * 5 Mining ETFs to Dig Into Compare Brokers The post 3 Big Stock Charts for Thursday: Discovery, Norfolk Southern and Bristol-Myers Squibb appeared first on InvestorPlace.
By Michael Erman NEW YORK (Reuters) - U.S drugmaker Bristol-Myers Squibb Co, which is set to buy biotechnology company Celgene Corp for $74 billion, posted slightly better-than-expected first-quarter earnings on Thursday on strong sales of its blockbuster blood thinner Eliquis. Net earnings in the quarter rose to $1.71 billion, or $1.04 a share, from $1.49 billion, or 91 cents a share, a year earlier. Excluding one-time items, the company said it earned $1.10 a share. That beat the average analyst estimate by a penny, according to IBES data from Refinitiv. ...
Bristol-Myers Squibb stock is down 13% this year, partly because investors have been skeptical of its move to buy biotech company Celgene.
Investing.com - Bristol-Myers Squibb (NYSE:BMY) reported first quarter earnings that Beat analysts' expectations on Thursday and revenue that topped forecasts.
Bristol-Myers Squibb raised forecasts for the full year after it beat expectations on earnings and revenue in the first quarter, driven by soaring sales of its stroke prevention and cancer drugs. The US pharmaceutical company increased its 2019 guidance for gaap earnings per share to between $3.84 and $3.94, and confirmed its non-gaap guidance of earnings between $4.10 and $4.20 per share. BMS overcame opposition from shareholder activists Starboard Value and large shareholder Wellington Management to receive shareholder approval for its $90bn acquisition of Celgene during the quarter.
is expected to report quarterly earnings of $1.09 a share on sales of $5.8 billion before the market opens Thursday, Apr. 25, based on a FactSet survey of 11 analysts. Quarterly estimates have risen 2.9 cents a share in the past month. Bristol-Myers Squibb is currently trading at a price-to-forward-earnings ratio of 10.5 based on the 12-month estimates of 13 analysts surveyed by FactSet.
The collapse of healthcare stocks, especially drug companies, may have finally abated. Merck (NYSE:MRK) has fallen 12% from its April 3 high. But the MRK freefall seems to have finally leveled off.Source: Shutterstock The instinctive reaction would be to buy the dip. Merck's five-year gain is now half that of the average S&P 500 stock, but it's still up 24% in the last year. And what initially sent MRK stock down was fear of politicians, not changes at the business.But Merck stock is still not cheap. Its trailing P/E ratio is 32, and the dividend of 55 cents per share still yields just 2.65% -- lower than many other dividend stocks. That dividend was just hiked in December, and thus isn't due to rise again for 8 more months.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Red-Hot E-Commerce Stocks to Consider Merck is due to report first-quarter earnings on April 30, with $1.05 per share expected on revenue of $10.36 billion. That's a big jump from last year's earnings pace, albeit on less revenue. But if MRK stock keeps growing like this, it would justify both a big dividend hike and an increase in its stock buyback, now at $10 billion on a market cap of $192 billion. The Keytruda MiracleThere are also reasons to find the earnings momentum sustainable.Keytruda, a cancer drug best known for having kept former President Jimmy Carter alive a few years ago, continues to score big with regulators. It's now a first-line drug against advanced kidney cancer, in conjunction with Inlyta from Pfizer (NYSE:PFE).Keytruda is one of three so-called PD-1 inhibitors on the market, alongside Opdivo from Bristol-Myers Squibb (NYSE:BMY) and Libtayo from Regeneron (NASDAQ:REGN). These are monoclonal antibodies that keep cells from attacking one another. Turning off this chemical "off switch" boosts the immune system response to cancer cells. While Opdivo is heavily advertised, it is Keytruda that has been scoring the bigger wins in late-stage studies. The most recent one is Keynote-426, which gave 861 patients two years of the drug, which can cost over $100,000 per year. Keytruda was worth over $7 billion to Merck last year. The Price BacklashIt's Keytruda's price, which doesn't apply in countries that bargain directly for drugs, that caused the healthcare sector's fall from grace this month.That pushback takes many forms, from cost-effectiveness studies to state and national legislation. But the industry's lobbyists still stand strong in Republican Washington.This includes Merck CEO Ken Frazier, who recently agreed to stay on past his normal retirement age for a $20.9 million pay package.Frazier is charged with defending the industry against attacks on its profits and diversifying the company's $42 billion in sales beyond Keytruda, which represents 17% of Merck's total revenue.Merck recently won approval for Mavenclad, a potential blockbuster drug for multiple sclerosis, and it made 60 acquisitions during 2018. These include expansion in animal pharmaceuticals and immunotherapy. Its current late-stage drug pipeline has been valued at $13 billion. The Bottom LineMerck is due to bounce back at least 10%, as the recent downdraft in health care stocks fades from memory, just as the December fall of tech stocks faded.Of 18 analysts now following the stock, 13 now have it on their buy lists and confidence is up over three months ago. * 10 Stocks to Sell Before They Give Back 2019 Gains A beat on the quarterly earnings estimate should be the catalyst to take Merck to new highs, and its pipeline should keep it profitable no matter what Congress decides to do. This is a dip both speculators and investors will enjoy buying.Dana Blankenhorn http://www.danablankenhorn.com is a financial and technology journalist. He is the author of a new mystery thriller, The Reluctant Detective Finds Her Family https://www.amazon.com/Reluctant-Detective-Finds-Her-Family-ebook/dp/B07FSRDR4Y/, available now at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Oversold Stocks to Run From * 7 Red-Hot E-Commerce Stocks to Consider * 4 Stocks Surging on Earnings Surprises Compare Brokers The post Why Investors Should Buy the Dip in MRK Stock appeared first on InvestorPlace.
Here’s what investors should look for on Thursday as these two pharmaceutical giants report first-quarter earnings.
Positive earnings surprises - when profits beat consensus analyst estimates - can have a huge impact on a company's share price. These surprises show that management can both manage and exceed expectations, not to mention "beats" often lead to share-price gains as investors realize Wall Street might be underappreciating these overachievers.For instance, a FactSet Research study examining Standard & Poor's 500-stock index components from Q4 2008 to Q1 2018 found that companies that posted positive EPS surprises gained 1.24% on average in the four-day window surrounding their earnings announcement.Far more significant was what earnings surprises portended for long-term performance. Golden Capital and FactSet Research tracked S&P; 500 companies over 15 years and found that those that reported positive EPS surprises experienced bigger share price gains than those that had not - even in cases where the stock's short-term response to positive surprises was minimal. While the S&P; 500 more than tripled over the study's timeline, positive surprisers more than quadrupled.The lesson: Companies that properly manage expectations and can "beat the Street" regularly tend to provide stronger long-term performance - even if the initial response isn't strongly bullish.Here are 19 great stocks that have delivered positive earnings surprises averaging 10% or better over the past four quarters. Many of these stocks are off the beaten path, most of these stocks have generated double-digit annual earnings growth over the past five years, and all produced double-digit EPS gains in their most recent fiscal year. SEE ALSO: 50 Top Stocks That Billionaires Love
Two things are hurting the near-term prospects of Bristol-Myers (NYSE:BMY). First, drug plan companies like UnitedHealth Group (NYSE:UNH) issued a quarterly revenue warning, scaring investors from the drug sector. Second, Bristol-Myers is about to acquire Celgene (NASDAQ:CELG). And as the firm doing the acquiring, markets typically get cautious on short-term risks related to the acquisition.Source: A 4 via Flickr Are these two headwinds enough of a reason to justify BMY stock trading this low? Drug Prices Under PressureWashington is still looking for deterrents to a drug company's ability to raise prices. Any politically driven rules that limit a company's effectiveness to adjust prices will hurt not just Bristol-Myers but most companies in the pharmaceutical space. Companies often need to make adjustments to increase profits. It may then use those profits to pay for research and development, make acquisitions or return profits to shareholders. If this cycle is disrupted, investors will be less inclined to invest in the sector.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAt 15 times earnings, BMY stock is relatively inexpensive compared to its peers. Merck & Co. (NYSE:MRK) fell by around 11% but its shares still trade at 31 times. Pfizer Inc. (NYSE:PFE), which is widely held by investors, trades at 23 times. Markets discounted Bristol-Myers stock because the firm's inability to adjust prices higher will limit the options it has to help pay down the Celgene acquisition. Quarterly Earnings Ahead for BMY StockBMY will report its quarterly results for the quarter ended March 2019 on April 25. First-quarter 2019 earnings are expected to come in at $1.09, up from 94 cents last year. According to Tipranks, analysts are still bullish on BMY stock and have an average price target that is around 33% higher than its $45.52 recent closing price. * 10 High-Yielding Dividend Stocks That Won't Wilt In the upcoming quarter, the firm may shed some light on the progress of Opdivo. Currently, Opdivo has indications for nine different tumors. Management forecasts growth opportunities for Opdivo in the U.S. and outside the U.S., due to its treatment option for two of the tumors. Specifically, the treatment is for adjuvant melanoma and first-line renal cell. BMY launched these indications early last year. Opdivo plus Yervoy will play an important role in first-line renal, so investors should expect a good opportunity for the drug.Regarding Opdivo for cancer treatment, the prospects are more challenging. The company is facing a decline in eligible patients, dropping to the 35%-40% range. Fortunately, Bristol-Myers has a 30% market share. Merits of Celgene Deal for Bristol-Myers ExplainedAt face value, the Celgene buyout will come at a hefty price of $74 billion. Fundamentally though, the two firms coming together will benefit shareholders as a stronger firm. The timing for the deal is good because BMY is strong right now. The strong cash flow will facilitate the management of the debt level. In the long-term, it gets a complementary product line that strengthens its prospects.Revlimid's IP, in particular, has strong prospects ahead. Fortunately, Bristol-Myers forecast a downside and minimal outlook for Revlimid during the negotiation phase. And by preparing for weaker cash flow from it, management may plan out what it needs to do to make the most from the product.Fedratinib, luspatercept and ozanimod have strong commercial viability whose product launch will lead to strong cash flow growth from Celgene. In short, Celgene's specializing in making drugs to treat myeloma will complement BMY's drugs that treat inflammatory diseases. Further, cell therapies will advance BMY in ways that are not possible without the acquisition. ValuationAnalysts are optimistic that BMY stock will increase by over 30% in the next year. When the stock's P/E is below that of its peers, negative emotions are likely to blame for the stock's underperformance. In the near-term, the stock may head even lower as selling pressure accelerates. Still, value investing is all about patience, so starting a position at these levels may pay off over time. Investors who find the stock appealing at these levels will need to hold the stock for at least 2-3 years. By then, Celgene's new product launches will be accretive to Bristol-Myers' results.As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 High-Yielding Dividend Stocks That Won't Wilt * 4 Energy Stocks Soaring as Trump Tightens on Iran * 7 Tech Stocks With Too Much Risk, Not Enough Upside Compare Brokers The post Why Is Bristol-Myers Near 52-Week Lows? appeared first on InvestorPlace.
Investors are looking forward to Revlimid's performance and updates on the impending acquisition agreement with Bristol-Myers, when Celgene Corporation (CELG) reports Q1 results.