Bristol Myers Squibb (BMY)

[chmcnfunds]

Not sure if rumor or they are creating a rumor:
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Bristol-Myers Squibb (BMY) Stock: Here’s Why It’s Up
InvestingBiotechBreaking NewsJan 5, 2017 0 137
Bristol-Myers Squibb Co (NYSE: BMY)

Bristol-Myers Squibb is off to what looks like it may be an incredible day in the market today. Early on, the stock looked like it was headed for a normal day in the session. However, minutes ago, we started to see a spike in value. Below, we'll talk about what we're seeing, why, and what we'll be watching with regard to BMY ahead.

What We're Seeing From BMY

As mentioned above, Bristol-Myers Squibb was off to a relatively normal day in the market early on. However, the normal movement didn't last long. Minutes ago, we started to see a spike in value on the stock. Currently (10:00), BMY is trading at $59.78 per share after a gain of $0.64 per share or 1.08% thus far today.

Why The Stock Is Headed Up

As is almost always the case, our partners at Trade Ideas were the first to alert us of the upward movement on BMY. When they did, the CNA Finance team started digging to see exactly what was causing the movement. In this particular case, we were able to dig up the story relatively quickly. It seems as though a social rumor is causing the movement.

At the moment, if you search your favorite social network for Bristol-Myers Squibb, chances are that you'll see the rumor too. The rumor is that Jana has increased its stake in the company. Now, keep in mind that this has not been confirmed on either side. Nonetheless, if this is indeed the case, it's good news.

What We'll Be Watching Ahead

Moving forward, the CNA Finance team will be keeping a close eye on BMY. In particular, we're interested in seeing whether or not there is any validity to this rumor. Nonetheless, we'll keep an eye on the news and bring it to you as it breaks!
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http://cnafinance.com/bristol-myers-squibb-bmy-stock-heres-why-its-up/13103

BMY