BMS gains on investment rumors

Bristol-Myers Squibb Co. (NYSE:BMY) declined to comment on media reports that activist investor Carl Icahn has taken a stake in the company. The rumors drove BMS shares as high as $56.79 during the day on Tuesday before the stock finished up $0.19 to $54.78.

The stock is off 29% since hitting a high of $77.12 last July. In January, it lowered its earnings guidance for 2017 after its immuno-oncology franchise suffered setbacks (see BioCentury Extra, Jan. 26)...