Bristol-Myers Squibb dragged down the S&P 500 this earnings season

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Published 2024-05-13

More than 90% of the companies in the S&P 500 (^GSPC) have reported their earnings for the first quarter of 2024, which yielded a mostly strong result for the index. However, Bristol-Myers Squibb (BMY) posted its quarterly earnings, resulting in a massive drag on the S&P. According to data from FactSet, the gains for the S&P were cut from 8.3% to 5.4% when Squibb's earnings were included.
Yahoo Finance Reporter Josh Schafer joins The Morning Brief to analyze Bristol-Meyers Squibb's earnings in relation to the S&P and its impacts on the overall market.
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