Shares of Bristol-Myers Squibb (NYSE:BMY), a U.S. drug giant that’s primarily focused on oncology, cardiovascular, and immunoscience therapies, catapulted higher by 15% during February, according to data from S&P Global Market Intelligence. The jump in Bristol-Myers’ stock can mostly be attributed to increasing chatter regarding the potential for a buyout.
The real surge in Bristol-Myers’ shares began on Valentine’s Day,when rumors started that Roche, Novartis, and Pfizer were actively exploring the idea of taking over Bristol-Myers, and Gilead Scienceswas tinkering with the idea.
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Remember, Bristol-Myers Squibb’s stock took a beating after blockbuster cancer immunotherapy drug Opdivo failed to even come close to reaching its primary endpoint in treatment-naive advanced non-small cell lung cancer (NSCLC) patients whose tumors had at least 5% PD-L1 expression (the CheckMate-026 trial). This failure, and the subsequent success of Merck’scompeting cancer immunotherapy Keytruda in a similar indication (greater than 50% PD-L1 expression), shaved billions off Opdivo’s peak sales estimates.
good buy stocks: Oclaro, Inc.(OCLR)
- [By Evan Niu, CFA]
Shares of optical component companies have dropped today, includingOclaro (NASDAQ:OCLR), Acacia (NASDAQ:ACIA), Lumentum (NASDAQ:LITE), and Finisar (NASDAQ:FNSR), whose shares were down 11%, 11%, 6%, and 3%, respectively, as of 3:30 p.m. EDT, after the U.S. broadened its investigation regarding compliance with sanctions programs.
- [By Peter Graham]
Small cap fiber-optic networking product Applied Optoelectronics (NASDAQ: AAOI), a potential peer of EMCORE Corporation (NASDAQ: EMKR), Finisar Corporation (NASDAQ: FNSR) and Oclaro Inc (NASDAQ: OCLR), is themostshorted stock on theNASDAQ with short interest of 62.65% according to Highshortnterest.com.
- [By Arie Goren]
Advanced Micro Devices, Inc.(NSDQ:AMD)had been by far the best performer in 2016 among all the 413 Russell 3000 tech stocks. Its stock price appreciation of 295.1% in 2016 was significantly higher than the second ranked tech stock NVIDIA Corporation (NVIDIA (NSDQ:NVDA)which gained 223.8% and the third-ranked stock Oclaro Inc. (NSDQ:OCLR)which was up 157.2% in 2016.
- [By Lisa Levin]
Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday in Benzinga Professional . These trades were placed during Friday's regular session.
- [By Peter Graham]
Small cap fiber-optic networking product Applied Optoelectronics (NASDAQ: AAOI), a potential peer of EMCORE Corporation (NASDAQ: EMKR), Finisar Corporation (NASDAQ: FNSR) and Oclaro Inc (NASDAQ: OCLR), is thefifth mostshorted stock on theNASDAQ with short interest of 47.69% according to Highshortnterest.com.
good buy stocks: Summit Midstream Partners, LP(SMLP)
- [By Matthew DiLallo]
More often than not, when a company’s dividend starts approaching 10%, it’susually a sign that the market expects the payout to head lower in the very near future. However, for Summit Midstream Partners (NYSE:SMLP), that doesn’t appear to be the case. That’s because the pipeline and processing company can cover its payout with plenty of room to spare. In fact, it could actually resume distribution growth by year-end. While the company does have a large financial hurdle to overcome in the future, it has plenty of time to find a solution other than cutting the distribution.
good buy stocks: Ingles Markets Incorporated(IMKTA)
- [By WWW.THESTREET.COM]
Not all grocers will suffer from Amazon’s growing reach, but those who sell to high-income customers in the top 25 U.S. markets may see their business erode. Among those names include Costco (COST) , Trader Joe’s and Whole Foods (WFM) , which have the most to lose according to Barclays. On the other hand, Walmart (WMT) , Sam’s Club (owned by Walmart) and Ingle’s Markets (IMKTA) have the least to lose.
good buy stocks: Rigel Pharmaceuticals Inc.(RIGL)
- [By Lisa Levin]
Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) shares dropped 22 percent to $2.52 after the company reported results from the second FIT Phase 3 study for fostamatinib. The company disclosed that the study did not meet primary endpoint.
good buy stocks: Galapagos NV(GLPG)
- [By David Zeiler]
Bill Patalon’s initial stock pick was Galapagos NV (Nasdaq ADR: GLPG), a Belgian biotech company.
Patalon was attracted to Galapagos’ strategy to target “orphan diseases,” afflictions that strike rarely and so often go ignored by the Big Pharma companies. He also liked that Galapagos had more than 50 drug discovery programs underway, and that it already had licensing agreements with several bigger players in the industry.
- [By Stephen Mack]
Galapagos NV (Nasdaq: GLPG) is our big winner so far, gaining 578.8% since Money Morning Executive Editor Bill Patalon shared his recommendation with Money Morning readers in April 2012. The S&P 500 has gained 75.4% in the same time. Bill has renewed his recommendation for the Belgian biotech several times over the years, saying in 2016 that it has “an established history of piling on gains.” With an average gain of 110% a year, it’s hard to argue with that.