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Shares of Bristol-Myers Squibb Co jumped over 8% on Friday after the firm topped second quarter analyst estimates on multiple counts. The pharma giant reported Q2 revenue at $12.20 billion, which came in higher than a Street estimate of $1.63 billion.Adjusted earnings per share (EPS) came in at $2.07 as compared to an expected loss of $1.63. Following the announcement, retail sentiment flipped into the extremely bullish territory (90/100) hitting a one-year high supported by extremely high message volume (93/100).<figure class="image"><a href="https://stocktwits.com/symbol/BMY"><img style="aspect-ratio:1594/438;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_26_at_11_39_11_AM_e2726d6c4a.png" alt="Retail sentiment trends in the extremely bullish territory for Bristol-Myers Squibb" width="1594" height="438"></a><figcaption>Retail sentiment trends in the extremely bullish territory for Bristol-Myers Squibb</figcaption></figure>During the second quarter, revenue rose 9% year-over-year (YoY) while EPS witnessed a growth of 18% YoY. The revenue was driven by the firm’s Growth Portfolio and its drug Eliquis.US revenues increased 13% to $8.80 billion, primarily due to the growth and legacy portfolios while international revenues fell 1% to $3.40 billion, primarily due to the negative impact from foreign exchange of 7% and Revlimid.As far as product revenues are concerned, the firm’s Growth Portfolio worldwide revenues increased 18% to $5.60 billion, primarily driven by higher demand for Opdivo, Reblozyl, Camzyos and Opdualag. Revenues for the Legacy Portfolio in the second quarter grew 2% to $6.60 billion, driven by higher demand for Eliquis and Pomalyst.The firm has raised its full-year guidance, now expecting total revenues in the upper end of low-single digit range compared to low single-digit increase it guided in April. Diluted EPS was ratcheted up to $0.60-$0.90 from an earlier guidance of $0.40-$0.70.Christopher Boerner, board chair and chief executive officer at Bristol-Myers Squibb said as the firm moves into the second half of the year, it remains focused on prioritizing opportunities with the greatest growth potential and impact for patients, including the anticipated U.S. launch of KarXT. &nbsp;Meanwhile, retail investors are viewing this as a potential turning point for the stock. One Stocktwits user named ‘Namhguab’ believed the stock was undervalued near the $42 level and still sees further upside following today’s news.<figure class="image"><a href="https://stocktwits.com/Namhguab/message/580799100"><img style="aspect-ratio:1542/356;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_26_at_11_40_21_AM_fcf9d0f598.png" alt="Stocktwits user Namhguab's post on Bristol-Myers Squibb" width="1542" height="356"></a><figcaption>Stocktwits user Namhguab's post on Bristol-Myers Squibb</figcaption></figure>Photo Courtesy: Bristol-Myers Squibb

Bristol Myers Earnings Beat: Retail Sentiment Hits One-Year High

Shares of Bristol-Myers Squibb Co jumped over 8% on Friday after the firm topped second quarter analyst estimates on multiple counts. The pharma giant reported Q2 revenue at $12.20 billion, which came in higher than a Street estimate of $1.63 billion.

Shares of Bristol-Myers Squibb Co jumped over 8% 

Equity

The biopharma company’s adjusted earnings per share (EPS) came in at $2.07 as compared to an expected loss of $1.63. Following the announcement, retail sentiment flipped into the extremely bullish territory (90/100) hitting a one-year high.

Oracle, Leidos, Cheniere Energy And More: CNBC's 'Final Trades'

Oracle shares fell 1% to close at $141.50 during Friday's session; the Health Care Select Sector SPDR Fund rose 0.3% during Friday's session.
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Sum Up The Pieces: XLV Could Be Worth $158

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price...

The Health Care Select Sector SPDR Fund Experiences Big Outflow

Symbols mentioned in this story: XLV, UNH, TMO, DHR

 Exchange traded funds (ETFs) trade just like stocks, but instead of shares investors are actually buying and selling...

We Did The Math XLV Can Go To $157

The Health Care Select Sector SPDR Fund Experiences Big Inflow

Symbols mentioned in this story: XLV, ELV, MDT, BMY

 Exchange traded funds (ETFs) trade just like stocks, but instead of shares investors are actually buying and selling...

Volume	6.03M
52-Wk High	$151.53
52-Wk Low	$122.59

XLV Health Care Select Sector SPDR

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