Bristol Myers Squibb (BMY) stock plunged early Thursday after the drugmaker reported adjusted earnings of $1.67 per share on $12.34 billion in fourth-quarter sales.
↑ X NOW PLAYING How To Buy Stocks: Flat Base Chart PatternOn average, analysts polled by FactSet expected Bristol Myers to earn $1.46 per share and report $11.57 billion in sales.
In the year-earlier period, the pharma company had $1.70 earnings per share and $11.48 billion in sales.
For the year, Bristol Myers guided to earnings of $6.55 to $6.85 per share and $45.5 billion in sales. The Street projected profit of $6.91 per share and $46.29 billion in sales.
In premarket trades on the stock market today, Bristol Myers Squibb stock tumbled more than 4% to 57.25. Shares broke out of a flat base after topping a buy point at 61.08 on Jan. 27, according to MarketSurge. But the stock has since fallen back below that entry.
More to follow.
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