"Being contrarians, we are always looking for laggard stocks with the potential to rebound," says turnaround expert George Putnam.

In his The Turnaround Letter, the advisor reviews four medical and pharmaceutical stocks that have been among the worst performers in the S&P 100 since the market bottom. Despite their poor performance, he thinks they may be due for a rebound.

"We think that investors who got left behind by the first leg of the market rally are struggling to catch up.

Continue reading Turnaround expert targets laggard pharmaceuticals

Turnaround expert targets laggard pharmaceuticals originally appeared on BloggingStocks on Mon, 12 Oct 2009 12:10:00 EST. Please see our terms for use of feeds.

Continue reading It's still a good time to buy BMY

It's still a good time to buy BMY originally appeared on BloggingStocks on Wed, 23 Sep 2009 17:00:00 EST. Please see our terms for use of feeds.

"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.

Continue reading Contrary call on Bristol-Myers (BMY)

Contrary call on Bristol-Myers (BMY) originally appeared on BloggingStocks on Thu, 07 May 2009 11:45:00 EST. Please see our terms for use of feeds.

"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.

Continue reading Bristol-Myers: A good buyout target?

Bristol-Myers: A good buyout target? originally appeared on BloggingStocks on Tue, 17 Mar 2009 16:15:00 EST. Please see our terms for use of feeds.

Health care has long been considered a recession-resistant business. Given the current economic challenges, it's little surprise that in our survey of favorite stocks for the coming year, a number of leading advisors turned to this classic defensive sector.

In this year's Top Stock Picks from 75 advisors report, we found an intriguing group of medical-related stocks, from speculation in emerging biotech to well-established pharmaceutical firms, and from medical products makers to medical services firms focused on increasing health care efficiency and early disease detection.

Mike Cintolo, editor of The Cabot Market Letter, thinks Myriad Genetics (NASDAQ: MYGN) could be a "big winner in 2009," The company is a lead in the new field of cancer predisposition testing. For Mike's full report, read Top Stock Picks '09: Myriad Genetics.

Chuck Carlson, editor of The DRIP Investor, sees both quality and potential in Bristol-Myers Squibb (NYSE: BMY). For Chuck's full report, read Top Stock Picks '09: Bristol-Myers Squibb.

Continue reading Drug and health care stocks: The right prescription for 2009

Drug and health care stocks: The right prescription for 2009 originally appeared on BloggingStocks on Mon, 05 Jan 2009 15:30:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Market up, GM up slightly

Closing Bell: Market up, GM up slightly originally appeared on BloggingStocks on Fri, 12 Dec 2008 16:00:00 EST. Please see our terms for use of feeds.

Bristol-Myers Squibb (BMY) could be a buyout target originally appeared on BloggingStocks on Fri, 27 Jun 2008 15:33:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• Once thought to be extremely safe, action rate securities have proved difficult to sell in this credit crisis. Tech companies are big holders of them and are taking charges left and right, including MetroPCS Communications Inc (NYSE: PCS), Palm Inc (NASDAQ: PALM) and Earthlink Inc (NASDAQ: ELNK), according to the Wall Street Journal.
• Electronic Arts Inc (NASDAQ: ERTS) is again urging Take-Two Interactive Software Inc (NASDAQ: TTWO) to negotiate after it recommended that its stockholders not sell any of its shares to EA and help its $2B takeover bid, the Financial Times reported.

• NYSE Euronext Inc (NYSE: NYX) will look to increase its stakes in India's National Stock Exchange and the country's Multi Commodity Exchange, the Business Standard reported, once foreign ownership rules are eased. NYSE Euronext also intends to partner with the two Indian exchanges in order to help them develop their business.

• Business Week reported that Brian Marckx of Zacks Investment Research said Bristol Myers Squibb Company (NYSE: BMY) may be an attractive takeover candidate for a larger pharma such as Pfizer Inc (NYSE: PFE) or France's Sanofi-Aventis SA (NYSE: SNY), both of which have been partners with Bristol on some of its products.

Newspaper wrap-up: Tech firm profits hurt by auction rate securities originally appeared on BloggingStocks on Fri, 28 Mar 2008 08:00:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal reported that Siemens AG (NYSE: SI) estimated that its earnings this quarter would be dragged down by about $1.4B on weaker-than-expected performance in major business prospects.
• According to the Financial Times, Bristol-Myers Squibb Company (NYSE: BMY) has reportedly made informal approaches to several potential bidders for its baby formula business, Mead Johnson, which is believed to be worth between $7B and $9B.

• The Telegraph reported that The Goldman Sachs Group Inc (NYSE: GS) is expected to announce a $3B writedown this week, part of which is attributable to their stake in Industrial & Commercial Bank of China. Goldman will also have writedowns of about $1.6B in its leveraged loan business.
• Several union leaders are accusing General Motors Corporation (NYSE: GM) of trying to lower the wages of more positions than the company and union had agreed to under their labor contract, the Detroit News reported.

Newspaper wrap-up: Goldman may announce $3B writedown this week originally appeared on BloggingStocks on Mon, 17 Mar 2008 08:00:00 EST. Please see our terms for use of feeds.

Market highlights for next week: RIMM to report Q2 earnings originally appeared on BloggingStocks on Fri, 28 Sep 2007 15:30:00 EST. Please see our terms for use of feeds.

Bristol Myers Squibb: It's all about the pipeline originally appeared on BloggingStocks on Fri, 19 Jan 2007 09:30:00 EST. Please see our terms for use of feeds.

Bristol-Myers Squibb (NYSE:BMY)'s CEO, Peter R. Dolan and General Counsel, Richard K. Willard, will be fired if the company's board of directors agrees with recommendations from an independent monitor. The Wall Street Journal made the unusual move of posting a "breaking news" notice on its web site in advance of the full story.

While Dolan's self-importance is such that the company's "about us" web page features his name, under "CEO:" as the first (and only managerial) Very Important Detail, he's made such gigantic missteps that a recent article said he had "precious little credibility." His attempts to delay generic competition for Plavix are being investigated by the Justice Department, and he's been responsible for "major financial scandals."

Today's Forbes asks, "Who Could Replace Peter Dolan?" and offers up names such as CFO Andrew Bonfield, Chief Scientific Officer Elliot Sigal (a "dark horse") and Karen Katen, Vice Chairman of Pfizer. We'll provide more details as we see them.

Bristol-Myers CEO fired? originally appeared on BloggingStocks on Mon, 11 Sep 2006 21:08:00 EST. Please see our terms for use of feeds.