BMS rises on earnings, promise of cost containment

Along with reporting 3Q16 earnings that beat estimates and raising full-year guidance, Bristol-Myers Squibb Co. (NYSE:BMY) on Thursday announced it would keep non-GAAP operating expenses "roughly flat" in 2016-20, even as it increases R&D spending in priority areas.

In 3Q16, adjusted EPS rose to $0.77, up 97% from $0.39 in 3Q15 and beating the $0.65 consensus. Revenues were $4.92 billion, up 21% from $4.07 billion in 3Q15 and topping the $4.79 billion consensus. ...