Bristol Myers Squibb (BMY)

[chmcnfunds]

A lot of interesting info, obviously, but one puzzle is the great discrepancy in tax rates:

"The effective tax rate was 17.3% in the quarter, compared to a benefit of 54.1% in the fourth quarter last year. Income taxes in both periods include net tax benefits attributed to specified items."

I see they are projecting ~ 20% so the 17.3% makes sense. The 54.1%?

My concern is their very high Asian exposure and Trump trade policies.

BMY