Comment on Bristol Myers surges 10%, its biggest increase since 2008, after boosting profit forecast

Bristol Myers surges 10%, its biggest increase since 2008, after boosting profit forecast

Drew Angerer/Getty ImagesBristol-Myers Squibb reported strong earnings on Friday, raising its full-year profit forecast.The company beat both sales and profit estimates in the second quarter.Shares spiked as much as 11% at intraday highs, the most since 2008.Bristol-Myers Squibb's stock climbed as much as 11% on Friday, its biggest intraday surge since 2008, after beating profit forecasts and raising full-year guidance.The drugmaker's second-quarter sales beat was largely driven by its blockbuster blood thinner Eliquis.Bristol Myers boosted its adjusted earnings for the year to between 60 and 90 cents a share, up 20 cents from its last forecast.

 

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