On Monday, Shares of Bristol-Myers Squibb Co (NYSE: BMY), subtract -10.14% and closed at $49.81 in the last trading session. The last trading range of the stock ranges between $49.54 and $51.30. The company’s Market capitalization is $83.80 Billion with the total Outstanding Shares of 1.66 Billion. During the 52-week trading session the minimum price at which share price traded, registered at $49.54 and reached to max level of $77.12. Bristol-Myers Squibb Company (BMY) declared recently updated results from two pivotal Phase 3 studies, CheckMate -057 and CheckMate -017, which showed more than one-third of formerly treated metastatic non-small cell lung cancer (NSCLC) patients in both trials practiced ongoing responses with Opdivo, contrast to no ongoing responses in the docetaxel arm. The median duration of response (DOR) with Opdivo as compared to docetaxel in CheckMate -057 was 17.2 months (95% CI: 8.4, NE) and 5.6 months (95% CI: 4.4, 6.9), respectively, and in CheckMate -017 it was 25.2 months (95% CI: 9.8, 30.4) and 8.4 months (95% CI: 8.4, NE), respectively. In CheckMate -057, patients with PD-L1 ≥1% had a median DOR of 17.2 months (95% CI: 8.4, NE) and in patients with PD-L1 <1%, it was 18.3 months (95% CI: 5.5, NE). In both studies, durability of response was observed in both PD-L1 expressors and non-expressors, and in CheckMate -057, one out of the four complete responses occurred in a patient with <1% PD-L1 expression.
There were no new safety signals identified for Opdivo in the pooled safety analysis from both studies. No new treatment-related deaths occurred between one and two years’ minimum follow-up despite the longer treatment exposure, and new events were observed in 11/418 patients with an additional one year of follow up.
Honeywell International Inc. (NYSE:HON), drooped -0.13% and closed at $106.80 in the last trading session. The last trading range of the stock ranges between $106.21 and $107.96. The company’s Market capitalization is $75.17 Billion with the total Outstanding Shares of 760.87 million. During the 52-week trading session the minimum price at which share price traded, registered at $93.71 and reached to max level of $120.02. Honeywell (HON) recently declared it has updated its previous guidance for the third quarter of 2016 to reflect the separation of the former Automation and Control Solutions reporting segment into two new reporting segments; the acquisition of Intelligrated, which closed on August 29, 2016; the sale of the Honeywell Technology Solutions (HTSI) government services business, which closed on September 16, 2016; the spin-off of Resins and Chemicals as AdvanSix Inc., which became effective on October 1, 2016; and lower outlooks in certain business segments.
The company also declared it has elected to adopt the Financial Accounting Standards Board’s (FASB) Accounting Standards Update 2016-09 for stock compensation in the third quarter, which is in advance of the mandatory 2017 effective date. As a result of the early adoption, the company is required to report the impacts as though the accounting standard update had been adopted on January 1, 2016. Accordingly, the first- and second-quarter results have been recast to reflect a $0.03 and $0.04 tax benefit, respectively. Benefits from the accounting change and sale of HTSI will be deployed to fund restructuring and other charges in the third quarter.
Third-quarter EPS is now expected to be about $1.60. Apart From restructuring associated with the $0.07 of first-half benefits related to stock compensation adoption, third-quarter EPS is expected to be about $1.67, in-line with the prior guidance range. This guidance also reflects the impact of lower shipments to Business and General Aviation OEMs, continued program delays and completions in the domestic and international businesses within Defense & Space, and lower volumes in Productivity Solutions (part of Safety and Productivity Solutions).