Drug maker Novartis AG (
) on Thursday posted disappointing third quarter earnings
The Swiss company reported third quarter net income of $2.48
billion, or $1.01 per share, compared with $2.49 billion, or $1.02
per share, in the year-ago period. Excluding items, adjusted profit
was $1.34 per share.
Revenue fell 7% from last year to $13.81 billion.
On average, Wall Street analysts expected a higher profit of
$1.36 per share, on much larger revenue of $14.25 billion.
Novartis shares fell 47 cents, or 0.8%, in Thursday morning
The Bottom Line
Shares of Novartis (
) have a 4.01% dividend yield, based on last night's closing stock
price of $61.39. The stock has technical support in the $56-$58
price area. If the stock can firm up, we see overhead resistance
around the all-time high levels of $64-$65 a share.
Novartis AG (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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