BMY, AMGN And GILD, Pushing Drugs Industry Downward

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 28 points (0.2%) at 16,953 as of Monday, June 9, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,914 issues advancing vs. 1,041 declining with 157 unchanged.

The Drugs industry currently sits up 3.1% versus the S&P 500, which is up 0.2%. A company within the industry that fell today was Novo Nordisk A/S ( NVO), up 0.5%. Top gainers within the industry include Idenix Pharmaceuticals ( IDIX), up 232.4%, Alnylam Pharmaceuticals ( ALNY), up 8.2%, Pharmacyclics ( PCYC), up 5.7%, Vertex Pharmaceuticals ( VRTX), up 2.4% and Illumina ( ILMN), up 2.0%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Bristol-Myers Squibb Company ( BMY) is one of the companies pushing the Drugs industry lower today. As of noon trading, Bristol-Myers Squibb Company is down $0.61 (-1.3%) to $46.64 on average volume. Thus far, 5.4 million shares of Bristol-Myers Squibb Company exchanged hands as compared to its average daily volume of 8.9 million shares. The stock has ranged in price between $46.61-$47.35 after having opened the day at $47.31 as compared to the previous trading day's close of $47.25.

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. Bristol-Myers Squibb Company has a market cap of $78.2 billion and is part of the health care sector. Shares are down 11.1% year-to-date as of the close of trading on Friday. Currently there are 10 analysts that rate Bristol-Myers Squibb Company a buy, 2 analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Bristol-Myers Squibb Company as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full Bristol-Myers Squibb Company Ratings Report now.

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