NEW YORK (AP) - Shares of Alcon Inc. fell sharply in premarket trading Thursday after the drug and medical device maker cut its revenue outlook and a JPMorgan analyst downgraded the stock.
SAN FRANCISCO (MarketWatch) -- Alcon Inc. said late Wednesday that its third-quarter profit rose to $627.1 million, or $2.07 a share, from $415.3 million, or $1.38 a share, in the year-ago period. Revenue rose to $1.18 billion from $1.01 billion last year. Analysts surveyed by FactSet Research estimated a quarterly profit of $1.58 a share on revenue of $1.54 billion. The company forecast 2008 earnings of $6.67 to $6.75 a share on revenue of $6.26 billion to $6.29 billion. Analysts estimate $6.54 a share on revenue of $6.47 billion.
The accompanying table presents an updated version of the ETFI Highly Defensive PerformIdex, which is expanded to 40 companies with market caps of at least $10B from the industry groups listed below. This defensive growth index is heavily weighted in consumer staples and healthcare and is now structured to include companies based in Europe, in addition to the United States and Canada.
In mid-July, Novartis (NVS) reported better-than-expected financial results for Q208 due to sales growth of 14% (which included a 9% forex benefit thanks to a weak US Dollar), resulting in an EPS of $0.98 for the quarter. Pharmaceutical sales were driven by strong demand for the blood pressure drug Diovan, which faces generic competition in 2012, and cancer drugs such as Gleevac, Zometa, and Femara. Novartis is expected to file for regulatory approval of cancer drug Afinitor by the end of this year. As illustrated in the accompanying five-year chart, Novartis has...
Alcon Inc. (ACL) is a Switzerland developer of pharmaceuticals, surgical tools, contact lens care and other products for eye diseases and disorders. On April 23rd it raised its expectations for 2008 earnings to $6.39-$6.49 per share on revenue of $6.4 to $6.5 billion, above previous guidance.
This continues a very bullish trend of strong earnings for this medical company, which is standing out as the leader in a group that is slowly starting to rise as Cyberonics (CYBX), ABIOMED (ABMD), Exactech (EXAC), NuVasive (NUVA) and Edwards Lifesciences (EW) all have the same chart patterns the past six months....
Microsoft/Yahoo tango increases pace. Microsoft's (MSFT) challenge to Yahoo (YHOO): Agree to a sale within the next three weeks, or we'll go straight to your shareholders, attempt to take over your board, and may reduce our bid. Yahoo responded to Microsoft this morning, rejecting CEO Steve Ballmer's contention that Yahoo's business is deteriorating, and saying it is not opposed to a sweetened deal. Sources say there is opposition within Microsoft which, while unlikely to derail the deal, might preclude a raised bid. MSFT's $31/share cash-and-stock offer is...
Alcon, Inc. (ACL)
develops, manufactures and markets ophthalmic pharmaceuticals,
ophthalmic surgical equipment, contact lens care products and other
consumer products that treat diseases and conditions of the eye. All
three major businesses lines at Alcon should continue to generate
strong top-line growth. Share repurchases and tax incentives will
additionally benefit EPS.
While the company is faced with several issues including patent
challenges and expirations as well as pipeline setbacks, we like the
fundamentals at Alcon. The lofty valuation the shares trade at likely
leaves little room for significant appreciation in the near-term,
however. We like the stock as a long-term holding and...
Partial spinoffs occur when a company keeps the majority of shares of the new enterprise. The company reserves the right, at some undisclosed time in the future, to sell in the open market or to further spinoff the remaining shares to its investors. Three such situations have been in the news lately: VMWare (VMW) and EMC (EMC), Nestle's (NSRGY.PK) and Alcon (ACL), Cypress Semi (CY) and Sunpower (SPWR). In each of these cases, the parent attempted to highlight a rapidly growing division by bringing it public.
Alcon ( NYSE : ACL ) opened at $75.30.So far today , the stock has hit a low of $67.76 and a high of $75.30.ACL is now trading at $73.92 , down $1.82 ( - 2.40 % ).Over the last 52 weeks the stock ...
Alcon Inc . ( Alcon ) reported strong yoy revenue growth , driven by strong growth in sales across all 3 product divisions in 3Q 08.We expect Alcon ' s strategy of expanding its market presence ...
Fort Worth , Texas ( PRWEB ) November 8 , 2008 - - Cataract surgery patients and their caregivers now have a new online educational resource to gather information on cataracts , found at www ...
NEW YORK , Oct 23 ( Reuters ) - Shares of eye - care products maker Alcon Inc tumbled as much as 35 percent on Thursday , a day after its quarterly earnings badly missed Wall Street expectations ...
Alcon ( NYSE : ACL ) opened at $103.70.So far today , the stock has hit a low of $87.55 and a high of $103.70.ACL is now trading at $96.87 , down $38.58 ( - 28.48 % ).Over the last 52 weeks the ...
AP 10.23 . 08 , 9 : 14 AM ETShares of Alcon Inc . fell sharply in premarket trading Thursday after the drug and medical device maker cut its revenue outlook and a JPMorgan analyst downgraded ...
Alcon Inc . ( Alcon ) reported robust yoy growth in sales in 3Q 08 , reflecting strong sales across all divisions during the quarter.Strong focus on launching new products in emerging markets ...
Munich , Germany , October 23 , 2008 - Origenis GmbH today announcedthat it broadened its drug discovery research alliance with AlconResearch , Ltd . ( ARL ) to create and develop small molecule ...
Munich , Germany , October 23 , 2008 - Origenis GmbH today announced that it broadened its drug discovery research alliance with Alcon Research , Ltd . ( ARL ) to create and develop small molecule ...
sold.Alcon , Inc . is the world ' s leading eye care company , with sales of approximately $5.6 billion in 2007.Alcon , which has been dedicated to the ophthalmic industry for more than 60 years ...
SAN FRANCISCO (MarketWatch) -- Alcon Inc. said late Wednesday that its third-quarter profit rose to $627.1 million, or $2.07 a share, from $415.3 million, or $1.38 a share, in the year-ago period. Revenue rose to $1.18 billion from $1.01 billion last year. Analysts surveyed by FactSet Research estimated a quarterly profit of $1.58 a share on revenue of $1.54 billion. The company forecast 2008 earnings of $6.67 to $6.75 a share on revenue of $6.26 billion to $6.29 billion. Analysts estimate $6.54 a share on revenue of $6.47 billion.
Swiss drug giant Novartis on Monday says its third-quarter profit dropped 69%, as expenses to buy a stake in eye-care specialist Alcon, higher taxes and last year’s gains from selling its Gerber and medical-nutrition business offset growing sales of its cancer and heart drugs.
Stocks 
While the company is faced with several issues including patent
challenges and expirations as well as pipeline setbacks, we like the
fundamentals at Alcon. The lofty valuation the shares trade at likely
leaves little room for significant appreciation in the near-term,
however. We like the stock as a long-term holding and...
