On July 30, Bristol-Myers Squibb rose 3.07% in regular trading, trading at $63.63/share, with turnover of $464 million. The rally was driven by a blowout Q2 earnings report released pre-market.

The company reported Q2 adjusted EPS of $2.04, far exceeding the consensus estimate of $1.59, while revenue of $12.97 billion significantly surpassed the $11.75 billion expected. Full-year adjusted EPS guidance was raised to $6.75–$7.00, well above the Street estimate of $6.34. Annual revenue outlook was lifted to $49.0–$50.0 billion from a prior range of $46.0–$47.5 billion. Notably, core product Eliquis saw its full-year revenue growth forecast raised to 20%–25%, up sharply from the previous 10%–15% expectation.

On the pipeline front, management indicated that pivotal data for Cobenfy in Alzheimer's disease psychosis will begin readout in early next year, while Milvexian atrial fibrillation late-stage data has been pushed back to Q1 of next year from the previously guided year-end timeline.

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