Why Novartis Stock Is Down Today Despite Topping Q2 Estimates
By most standards shares of drugmaker (NYSE: NVS) should be higher following this morning's release of its second-quarter results. The drugmaker's top and bottom lines were both better than expected, and up from year-earlier comparisons. And profit guidance for the remainder of the year was encouraging, lifted from its previously announced expectations.
And yet, Novartis stock is down 4.5% as of 1:55 p.m. ET Thursday, according to data from S&P Global Market Intelligence.
What gives? Blame the company's decision to bow out of one particular sliver of the cancer market, mostly.
Source Fool.com
Novartis AG ADR Stock
€102.00
0.490%
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