Bristol-Myers Positive, Cooper Jumps, WBD Declines

Bristol-Myers (BMY)

• Analysts are citing a positive readacross to Bristol-Myers from positive results for Bayer's experimental stroke-prevention drug
• Cantor: Bayer’s data supports confidence in BMY’s own program in secondary stroke prevention
• Earlier this month:  shares fell after one of its most important experimental medicines appeared unlikely to benefit patients who had suffered a heart complication, another setback for the drugmaker’s product pipeline

Cooper (COO)

• Maker of medical devices and surgical instruments;
• Activist investors Browning West wrote a letter to the board saying its “inadequate” oversight has led the company to significantly underperform and miss financial guidance
• Calls for urgent change at the Board to refocus the co. and appoint Browning West’s director candidates
• Urges Cooper to pause any potential restructuring efforts until Browning West’s recommended directors are seated so that any restructuring is optimized in scope and magnitude
• Reuters reported earlier this month that Browning West owns about 4% of Cooper

WBD

• Netflix, Comcast and Paramount Skydance all submitted bids for Warner Bros. Discovery by the Nov. 20 deadline for a first bid
• Comcast and Netflix are most interested in the film and TV library; Paramount is willing to buy the whole company
• Fourth owner in seven years
• Warner Bros. may not reach a deal with any of the suitors and may continue its current plan to separate its flagging cable networks from the rest of the businesses next year

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