Readers of this space know that the investment bias is toward large-cap companies with demonstrated business models and who have a competitive advantage in established markets, preferably with a favorable, global trend as a support. And with that in mind, Bristol-Myers Squibb (NYSE: BMY) is worth a review.

In general, analysts forecast low, single-digit revenue growth for BMY in FY2009, weighed-down primarily by unfavorable foreign currency trends.

If you've been following Elan Corp. (NYSE: ELN) lately, you've probably come to take any story of a deal, takeover, sale with a grain of salt.

This morning, Elan shares soared over 16% after stories on Reuters and the Wall Street Journal over the weekend said it is in advanced talks to sell a minority stake to Bristol-Myers Squibb (NYSE: BMY). Moreover, Elan was said to be in talks with a second suitor, but the status of those discussions was unclear. This, Reuters reported, could be the first move in a multi-step transaction to sell Elan outright.

While the shares are still up a healthy 12% by midday, now Bloomberg reports that according to UBS analysts, Bristol isn't in talks to buy a stake in Elan.

AstraZeneca (NYSE: AZN - option chain) shares are rising today after the company said its experimental heart pill, Brilinta, was more effective at preventing heart attacks and strokes in a large clinical trial than Plavix, a drug made by competitors Sanofi-Aventis (NYSE: SNY) and Bristol-Myers Squibb (NYSE: BMY). If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on AZN.

AZN opened this morning at $38.16. So far today the stock has hit a low of $37.83 and at 11:25 is trading at the days high of $38.21, up 2.07 (5.7%). The chart for AZN looks neutral and S&P gives AZN a neutral 3 STARS (out of 5) hold ranking.

"Wall Street has been nonplussed about results from Bristol-Myers Squibb (NYSE: BMY); in my view, the Street is wrong," says Karim Rahemtulla in Xcelerated Profits Report.

"The stock has not joined many of its colleagues on the upside recently, but you can take Wall Street's lackluster opinion with a grain of salt. Yes, BMY's revenue of $5.02 billion fell a bit shy of projections for $5.13 billion, mostly due to a strong dollar negatively impacting sales.

"But sales grew 2.5% over the same period a year ago and earnings of 48 cents per share beat estimates by a penny. And with sales of Plavix rising 10% and demand for anti-depressant Abilify jumping 30%, it's hardly bad news.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Bristol-Myers Squibb Co. (NYSE: BMY) Q1 profit fell despite strong sales of Plavix and Abilify.
• Check Point Software Technologies Inc. (NASDAQ: CHKP) was downgraded based on its guidance.
• Domino's Pizza Inc. (NYSE: DPZ) strong Q1 results were boosted by early debt retirement.
• DreamWorks Animation SKG Inc. (NYSE: DWA) strong Q1 results were driven by Madagascar 2.
• Endo Pharmaceuticals Holdings Inc. (NASDAQ: ENDP) Q1 results led to an analyst's downgrade.
• E*Trade Financial Corp. (NASDAQ: ETFC) widened its Q1 loss, sending shares sharply lower.

Pharmaceutical firm Bristol-Myers Squibb (NYSE: BMY) announced that strong sales of Plavix and Abilify (an anti-clotting and psychiatric drug, respectively) helped boost the company's quarterly revenue. The boost wasn't enough though, as higher taxes and a litigation charge weighed on the company's profit, pulling it 3.5% lower.

BMY's quarterly earnings totaled 32 cents per share, a penny worse than a year ago. However, earnings excluding items would have been 48 cents per share (simple math tells me that the charges were 16 cents per share). These charges included a litigation charge that helped settle a shareholder lawsuit. Quarterly revenue checked in at $5.02 billion, which was 3% higher than the first quarter of 2007. Excluding the effects of the strong dollar, BMY's sales would have increased 8%. Expectations called for higher sales of $5.13 billion, but lower per-share earnings of 47 cents per share.

"Is Bristol-Myers Squibb (NYSE: BMY) ripe for a buyout?," asks growth expert Karim Rahemtulla. Here's an assessment from the investment director of Xcelerated Profits Report.

"I've predicted over the last several months that the larger pharmaceutical companies would be on the prowl for possible acquisitions.

"As it stands now, we probably haven't seen the last of such offers - and thanks to the previous two large mergers recently announced Merck acquiring Schering Plough and Pfizer buying Wyeth, many analysts are now speculating that Bristol-Myers Squibb could be next.

5% Dividends You Can Believe In
Don't let other companies' dividend cuts turn you away from these high-yielders. The list includes Consolidated Edison, Eli Lilly, Genuine Parts, HJ Heinz, Pitney Bowes and Verizon.
http://www.smartmoney.com/Investing/Stocks/5-Percent-Dividend-Yields-You-Can-Believe-In/

This week, there was some hope that we might see signs of relief in the IPO market. But, with the massive sell-off yesterday, those hopes are dimmed.

Yet, there was one deal that was able to get off the ground: Mead Johnson Nutrition (NYSE: MJN). The company, which has been a part of Bristol-Myers Squibb Co. (NYSE: BMY) since 1967, is a leader in the baby formula business.

Mead was able to price its IPO at $24, which was at the top-end of its $21-$24 round. In all, the company issued 30 million shares.

No doubt, Mead is a solid company, with about $2.6 billion in sales (last year). The company has a portfolio of over 70 products that are distributed across 50 countries.

Before the bell: Stocks to rebound, but investors remain cautious

ArcelorMittal (NYSE: MT) swung to a surprising $2.6 billion loss in the fourth quarter -- its first ever -- as it experienced a collapse in demand and a sharp drop in prices. It wrote down $4.4 billion in pre-tax charges. The steel giant is also shedding some 9,000 workers. MT shares jumped over 6% in premarket trade.

Applied Materials (NASDAQ: AMAT) warned late Tuesday that chipmakers will spend 50% less this year for its products. The maker of semiconductor production equipment also posted a fiscal first-quarter loss of $3 million, excluding charges, and said it will cut 14% of its workforce, or about 2,000 jobs, as well as production. AMAT shares declined some 2% in premarket trade.

5 Dividend Stocks for This Market
These picks have generous yields - and a history of dividend hikes. They include BP, Altria, Vodafone, PPG Industries and Bristol-Myers Squibb.
http://www.smartmoney.com/Investing/Stocks/5-Dividend-Stocks-for-This-Market/

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• American Express Co. (NYSE: AXP) earnings tumbled in Q4 but came in just short of expectations.
• Best Buy Inc. (NYSE: BBY) earnings prospects and cash flow led to an analyst's upgrade.
• Bristol-Myers Squibb Co. (NYSE: BMY) topped analysts Q4 expectations, sending shares higher.
• Colgate-Palmolive Co. (NYSE: CL) posted a better-than-expected Q4 profit despite the weak economy.
• Delta Air Lines Inc. (NYSE: DAL) reported a big quarterly loss due to merger costs and bad fuel hedges.
• Eaton Corp. (NYSE: ETN) Q4 earnings fell on lower exchange rates and charges related to an acquisition.
• E*Trade Financial Corp. (NASDAQ: ETFC) narrowed its Q4 net loss but fell short of expectations.

Bristol-Myers Squibb (NYSE: BMY - option chain) shares are headed higher today after the company said its fourth-quarter profit came in at $1.24 billion, or 63 cents per share, on revenue of $5.25 billion.

BMY's adjusted profit of 46 cents per share easily beat analysts' projections of 41 cents per share. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on BMY.

BMY opened this morning at $22.92. So far today the stock has hit a low of $22.72 and a high of $23.44. As of 12:05, BMY is trading at $23.39, up 1.14 (5.1%). The chart for BMY looks bullish and S&P gives BMY a positive 4 STARS (out of 5) buy ranking.

Analyst upgrades:

• Societe Generale upgraded shares of Veolia Environment (NYSE: VE) to Buy from Hold as they believe the company's new finance chief implement additional cost savings.
  
• Citigroup upgraded shares of Sun Healthcare (NASDAQ: SUNH) to Buy from Hold and added the stock to their Top Picks Live List as they believe the market is pricing in a more severe Medicaid and Medicare reimbursement outlook than is probable. The firm has a $14 target on the stock.
  
• Calyon believes in 2010, American Express (NYSE: AXP) will have easy comps, reserve releases, and income statement leverage. The firm upgraded shares to Outperform from Underperform.
• Societe Generale (OTC: SCGLY) was upgraded to Buy from Hold at Citigroup.
  
• Caterpillar (NYSE: CAT) was raised to neutral from Sell at UBS.
  
• Goldman upgraded Biogen Idec (NASDAQ: BIIB) to Buy from Neutral and added shares to the Conviction Buy List; Goldman also added Bristol-Myers (NYSE: BMY) to the Conviction Buy List.

DuPont (NYSE: DD) reported Tuesday morning, saying it swung to a fourth-quarter loss. DuPont reported a loss of $629 million, or 70 cents per share, but excluding a restructuring charge the loss is 28 cents per share. Revenue fell 16% to $6.07 billion. Results were below analyst estimates of a loss of 24 cents per share on revenue of $6.17 billion.

Verizon Communications (NYSE: VZ) also reported Tuesday morning, saying it earned $1.24 billion, or 43 cents a share, in the fourth quarter. On an adjusted basis, Verizon earned 61 cents a share compared to 62 cents a share a year ago. Sales were $24.6 billion. Verizon missed estimates only slightly and shares gained 1.6% in premarket trading.

Yahoo (NASDAQ: YHOO) is reporting after the close today and analysts expect earnings of 13 cents a share for the period, on $1.4 billion in net revenue, according to FactSet Research. Shares indicated higher in premarket trading.