Bristol-Myers Squibb: There Goes Any Chance for Upside

Poor Bristol-Myers Squibb ( BMY )--and poor anyone who had been bullish on its shares. That would include Barron's Jack Hough , who listed it as a stock on sale on Jan. 13 . It's even more on sale today, however, after Bristol-Myers said that it wouldn't seek accelerated approval of its lung-cancer treatment combination last night, with shares off 10% at $49.94 at 12:05 p.m. today. Credit Suisse analysts Vamil Divan and Barbara Kotei write that the news "removes the possibility for near-term BMY Upside":