Bristol-Myers Squibb shares are trading lower after the company reported worse-than-expected Q2 results and cut its FY23 guidance.
Portfolio Pulse from Bill Haddad
Bristol-Myers Squibb reported worse-than-expected Q2 results and lowered its FY23 guidance, leading to a drop in its share price.
July 27, 2023 | 1:13 pm
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NEGATIVE IMPACT
Bristol-Myers Squibb's shares are expected to continue trading lower in the short term due to the disappointing Q2 results and lowered FY23 guidance.
Bristol-Myers Squibb's worse-than-expected Q2 results and lowered FY23 guidance are negative indicators for the company's performance. This could lead to a lack of investor confidence, resulting in a decrease in the company's share price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100