Mark Lennihan / AP

Billionaire activist investor Carl Icahn bought an undisclosed stake in the drug giant Bristol-Myers Squibb, the Wall Street Journal reported.

Bristol-Myers Squibb just fended off a separate activist, Jana Partners, and now the presence of Icahn is fueling speculation that the company will try to sell itself. Bristol-Myers Squibb recently lowered profit estimates for 2017 built on depressed expectations for its blockbuster cancer drug, Opdivo.

Food for thought: Assuming the drug company wants to sell, the number of prospective buyout partners is limited, as the WSJ pointed out. Bristol-Myers Squibb has a market cap of $93 billion and annual revenue of $19 billion. Only the biggest pharmaceutical companies would be potential buyers, although some investors have speculated if this would be an opportunity for Gilead Sciences and Bristol-Myers Squibb, two sub-performing drug stocks, to combine.

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Trump's outdoor New Hampshire rally postponed due to weather

Photo: Win McNamee/Getty Images

President Trump's outdoor campaign rally in Portsmouth, N.H., slated to take place on Saturday, was postponed on Friday due to weather, a senior White House official confirmed to Axios.

The state of play: Press Secretary Kayleigh McEnany told reporters on Air Force One that storms were in the forecast and that the event would take place in "a week or two" instead. The outdoor rally — which had encouraged the use of face masks — was scheduled after sparse attendance at Trump's indoor comeback to the campaign trail in Tulsa.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 12,294,117 — Total deaths: 555,531 — Total recoveries — 6,761,933Map.
  2. U.S.: Total confirmed cases as of 11 a.m. ET: 3,118,168 — Total deaths: 133,291 — Total recoveries: 969,111 — Total tested: 38,032,966Map.
  3. Public health: The U.S.' new default strategy: herd immunity.
  4. Business: The pandemic is driving a second jobs apocalypse.
  5. ✈️ Travel: Airlines say air quality, cleanliness lower risk.
  6. Sports: Sen. Richard Blumenthal calls on colleges to cancel fall sports.

Biden's big economic plan plays it down the middle for Democrats

Illustration: Aïda Amer/Axios

Joe Biden yesterday laid out the broad strokes of his economic policy platform, which seemingly is designed to not freak out centrists and not piss off progressives.

Why it matters: Biden has a better-than-even shot of becoming the next president, which means his tax plans could become everyone's tax bills.