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  "documentTitle": "Bristol-Myers Squibb Company (BMY)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2019-03-18 00:00:00",
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  "notes": "Uses S-4 filing data to contrast internal vs external expectations.",
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      "kind": "callout",
      "text": "Bristol-Myers management projections for the Company on a standalone business are significantly better than Wall Street consensus estimates",
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      "text": "Bristol-Myers Management vs. Wall Street Consensus Net Income Estimates for Standalone Bristol-Myers",
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      "text": "Bristol-Myers Management vs. Wall Street Consensus Revenue Estimates for Standalone Bristol-Myers",
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      "text": "Net Income: $11.0",
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      "text": "In the Company's S-4 filing, Bristol-Myers management provides 2019 – 2023 estimates for standalone Company performance, which are significantly better over the long term than Wall Street consensus estimates, and suggests that management has faith in the standalone business.",
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      "text": "Source: Public company filings, Wall Street research, Bloomberg.",
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