Bristol-Myers Squibb Hits Lowest Level In 2 Years After Mixed Q4 Report

Bristol-Myers Squibb Co BMY shares are trading lower by $0.45 at $49.10 in Thursday's session.

Investors are exiting the issue after a mixed Q4 report that revealed an EPS miss of $0.04 along with a slight revenue beat. The company affirmed FY2017 outlook at the $2.70-$2.90 range versus estimates of $2.86.

The issue, which was under severe selling pressure last week as a result of the announcement that the company will not seek faster approval for its lung cancer drug, has now breached its lows from October.

After a lower open, it continued in that direction before bottoming at $47.81 and staging a rebound. That marks the lowest level for this issue since October 2014, when it bottomed at $47.64.

Since making that low, it has rebounded to make a new high for the session at $49.42, which is just shy of Wednesday's high of $49.57.