HALISTER: Novartis 3Q Core EPS Beats, Net Sales in Line; Keeps FY Outlook

Novartis 3Q Core EPS Beats, Net Sales in Line; Keeps FY Outlook

(Bloomberg) -- For 2016, co. still expects core operating income will be broadly in line or decline at a low single digit percentage at constant FX; net sales expected to be broadly in line with prior year.
  • 3Q net sales: $12.1b vs est. $12.2b
  • 3Q core EPS: $1.23 vs est. $1.20
  • 3Q core operating income (ebit): $3.38b vs est. $3.23b
  • 3Q core net income: $2.94b vs est. $2.85b
    • (Estimates are continuing operations in local currency, not constant FX)
  • Webcast/conf call at 2pm CET; dial-in: +41 22 592 71 03
  • Statement
  • NOTE: Yesterday, PREVIEW Novartis 3Q: Gleevec Erosion, Alcon, Entresto to Weigh
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
NOVN VX (Novartis AG)

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UUID: 7947283

HALISTER1: China’s Iron-Ore Futures Jump to Fresh 2016 High; Aussie Gains

China’s Iron-Ore Futures Jump to Fresh 2016 High; Aussie Gains

(Bloomberg) -- Iron-ore January futures on Dalian exchange rise 6.0% to their daily upper limit at 471.5 yuan/MT, the highest since contract started early this year.
  • AUD/USD up 0.1% to 0.7620, erasing a 0.3% loss
  • NZD/USD up 0.1% to 0.7145, reversing a 0.4% loss
  • Silver futures rose to the highest in more than two weeks; story here
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: INDIA RATINGS: GR Construction, Pumarth Infrastructure Cut

INDIA RATINGS: GR Construction, Pumarth Infrastructure Cut

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery
DOWNGRADES
  • GR Construction
    • Term loan cut to D from BB- at ICRA
    • Cites delay in meeting principal payment obligation
  • Pumarth Infrastructure
    • Long-term bank facilities cut to B from B+ at Crisil
    • Cites delay in project execution, no sales
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Euro Could Bottom in Low 1.0800 Area vs Dollar, Says BK Asset

Euro Could Bottom in Low 1.0800 Area vs Dollar, Says BK Asset

(Bloomberg) -- Consider fresh EUR/USD longs if the pair drops toward 1.0815-1.0825 area, BK Asset Management managing director Kathy Lien writes in note received today.
  • German-U.S. yield spread is driving EUR/USD; yield on Treasuries finally stabilized and is now moving higher at a faster rate than bunds: Lien
  • German IFO survey due today should continue to support euro, but investors will be far more interested in comments from ECB’s Draghi, says Lien; Draghi speaks at 11:30pm HKT/4:30pm London
  • EUR/USD falls for sixth day, down 0.1% to 1.0876
  • Options expiring today include 1.0900 strikes for EUR2.38b
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2539Z GR (European Central Bank)

People
Kathy Lien (Bk Asset Management)

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UUID: 7947283