Bristol-Myers Squibb reported higher than expected quarterly earnings on Tuesday, helped by cost cuts and lower taxes. There were concerns over a possible delay in completing its marketing application for a high-profile cancer drug. BMY posted Q1 earnings of 56 cents per share, beating estimates of 43 cents a share, while revenue dipped to $3.81 billion, missing estimates of $3.89 billion. Bristol-Myers Squibb also announced the acquisition of iPierian for $175 million.

More from Video

Listen: Will Smart Technologies Woo Millennials Back to Motorcycle Riding?

Listen: Will Smart Technologies Woo Millennials Back to Motorcycle Riding?

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Jim Cramer on U.S.-China Trade: The Media Has it Wrong

Jim Cramer on U.S.-China Trade: The Media Has it Wrong

Replay: Jim Cramer on Tariffs, the Market Rally, Caterpillar and Micron

Replay: Jim Cramer on Tariffs, the Market Rally, Caterpillar and Micron

Gold Is Plagued By Disinterest - U.K. Top Fund Manager

Gold Is Plagued By Disinterest - U.K. Top Fund Manager