Bristol Myers Squibb beat Wall Street estimates for third-quarter revenue on Thursday, as strong growth of its cancer immunotherapy and blood thinner Eliquis helped the drugmaker overcome a hit from generic competition for several older drugs.
The market continues to trade deeper in overbought territory based on most traditional valuation metrics. Most of the gains over the past three years have been driven by tech giants riding the AI Revolution higher. Equities continue to hit all-time highs even the government shut down has nearly hit the one month mark and trade tensions remain between China and the U.S.
There's no better way to generate passive income than dividend stocks. If a stock has a dividend yield higher than the common benchmark, such as the S&P 500, it could be a worthwhile investment.
Following in the footsteps of David Solomon at Goldman Sachs and Jamie Dimon at JPMorgan, Ark Investments guru Cathie Wood recently warned of the potential for a reality check for the stock market after the massive Artificial Intelligence rally that has driven the major indices to all-time highs over the last three years.
Pfizer currently has a 7% yield, and the company is making important business moves. Bristol Myers Squibb has a 5.6% yield and has been building its drug pipeline with acquisitions.
Bristol-Myers Squibb Company has a strong track record of beating analyst estimates, yet trades at a deeply pessimistic valuation. BMY's Q3 earnings are highly likely to beat consensus, reinforcing confidence in its dividend and management's execution track record. Recent M&A, strong R&D investment, and a healthy balance sheet position BMY for future growth beyond current revenue concentration ...
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