Novartis Shares Rise 2% After "Solid" 2Q Earnings -- Market Talk
July 18 2017 - 4:27AM
Dow Jones News
0757 GMT - Shares in Novartis rise 2.1% to CHF81.85 after the
company released 2Q earnings which Berenberg describes as "a solid
set of Q2 numbers". It points to "strength in pharma driven by key
growth engines, while Alcon has shown a welcome return to top-line
growth." The company "should be on a sustainable growth
trajectory," it says. Berenberg has a price target of CHF85.
Novartis reported a slight rise in 2Q net income, to $1.98 billion
from $1.81 billion, while sales fell 2% to $12.24 billion. Proceeds
from divestments helped offset its heavier investment into the
launch of new drugs that it hopes will compensate the decline of
its best-selling cancer drug Gleevec. Analysts had expected
Novartis to post net income of $1.83 billion and revenue of $12.26
billion. (jessica.fleetham@wsj.com)
(END) Dow Jones Newswires
July 18, 2017 04:12 ET (08:12 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Novartis (NYSE:NVS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Novartis (NYSE:NVS)
Historical Stock Chart
From Apr 2023 to Apr 2024