Bristol-Myers: Not Dead Yet?

Remember when Bristol-Myers Squibb tumbled in August after announcing that a late-stage trial for the use of Opdivo in lung cancer failed to meet its primary endpoint ? Well, Bristol is starting to make back some of those losses after releasing better-than-expected earnings today. Bristol-Myers reported a profit of 84 cents a share, topping the Street consensus for 73 cents a share , on sales of $4.93 billion, ahead of estimates for $4.75 billion. Sales of cancer drug Opdivo jumped 60%. Despite the good news, Bernstein's Tim Anderson notes the difficulty in predicting the future for Bristol-Myers' cancer drugs: