The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Top proxy advisors Institutional Shareholder Services and Glass Lewis on Friday recommended Bristol-Myers Squibb shareholders vote in favor of its bid to buy peer biotechnology company Celgene, according to CNBC's David Faber.
The recommendation from ISS and Glass Lewis comes just weeks before Bristol-Myers investors will vote on whether to approve the company's $74 billion bid for Summit, New Jersey-based Celgene.
"The transaction also significantly enhances BMY's pipeline, raising the number of late-stage drugs from one to six," ISS said, according to a Bristol-Myers press release Friday. "Both companies' current products and their pipelines are focused on drugs that fight cancer and blood disorders. As such, the merger appears logical strategically, and likely to generate more synergies than one involving disparate pharmacological areas of focus."
Though recommendations from proxy advisors like ISS do not dictate how investors vote, large passive fund managers like Vanguard and BlackRock often weigh their advice when deciding how to vote their shares. Celgene shares rose more than 7 percent, while Bristol-Myers dipped 0.2 percent in choppy trading.
"In particular, the merger represents an attractive, risk-adjusted opportunity to enhance Bristol- Myers' product portfolio by leveraging Celgene's current 'Big Five' late-stage, near-term product launches," Glass Lewis said, according to the same Bristol press release.
However, not everyone is happy with the big-ticket biotech deal.
Investment firm Wellington Management, one of Bristol-Myers largest investors, said last month that it is opposed to the tie-up.
In a rare public comment, Wellington said it "does not believe that the Celgene transaction is an attractive path towards" a business that "secures differentiated science and broadens the future revenue base."
Shortly thereafter, activist investor Starboard Value added that it will leverage its smaller stake in Bristol-Myers to oppose the the deal at a shareholder meeting on April 12. Starboard believes that the deal is not the best path forward for Bristol because Celgene will face headwinds once the patent for its cancer treatment, Revlimid, expires.
"Bristol-Myers is deeply undervalued and the recent announcement of the Company's proposed acquisition of Celgene Corporation is poorly conceived and ill-advised," Starboard CEO Jeffrey Smith wrote in a letter. "There is a better path forward for Bristol-Myers, either as a more profitable standalone company with a more focused, lower-risk strategy, or in a potential sale of the whole Company."
A spokesperson for Wellington Management declined to comment for this story. Starboard Value did not respond to CNBC's request for comment.