We are selling 300 shares of Bristol Myers Squibb at roughly $44.35. Following the trade, Jim Cramer’s Charitable Trust will own 1,100 shares of Bristol Myers, decreasing its weighting to 1.28% from 1.62%. Bristol Myers reported a strong quarter Thursday morning, beating Wall Street estimates for sales and earnings. Management also raised its sales guidance for the full year. We’ll send our full analysis of the quarter later today. The main story here remains Cobenfy, the company’s new schizophrenia drug, which we see as the next big growth driver. While the drug did come up slightly short of expectations, the real test, and next major catalyst for the stock, will be its trial data for Alzheimer’s psychosis. One phase 3 trial update is expected to be announced this year, with two additional phase 3 trial readouts expected in 2026. As a result, this quarterly report is something of a non-event for long-term investors. Therefore, we are using today’s strength — shares popped more than 4% in early trading — to reduce our exposure in what has been a problematic position. This will help us raise a little cash we can use for better opportunities as they arise this earnings season. We will realize a loss of about 25% with this sale. (Jim Cramer’s Charitable Trust is long BMY. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
