Novartis AG
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Health Care : Pharmaceuticals | Large Cap Value
Based in Switzerland
Company profile

Novartis AG is a holding company, which provides healthcare solutions. The Company is engaged in the research, development, manufacturing and marketing of a range of healthcare products led by pharmaceuticals. The Company's segments include Innovative Medicines, Sandoz, Alcon and Corporate activities. Innovative Medicines researches, develops, manufactures, distributes and sells patented prescription medicines to develop health outcomes for patients and healthcare providers. Sandoz develops, manufactures, distributes and sells prescription medicines, as well as pharmaceutical active substances that are not protected by valid and enforceable third-party patents. Alcon researches, develops, manufactures, distributes and sells eye care products. Alcon is a provider of eye care with product offerings in eye care devices and vision care. The Company's range of products includes pharmaceuticals and oncology medicines, generic and biosimilar medicines, and eye care devices.

This security is an American depositary receipt
ADR Fees
American Depositary Receipt (ADR) Fee

ADR fees charged by custodial banks normally average from 1 to 3 cents per share. Other country fees might apply. To read more, see the Exception Fees tab at Brokerage Fees

Price
Delayed
$78.91
Day's Change
-2.04 (-2.52%)
Bid
--
Ask
--
B/A Size
--
Day's High
79.72
Day's Low
78.78
Volume
(Heavy Day)

Today's volume of 481,304 shares is on pace to be much greater than NVS's 10-day average volume of 1,640,966 shares.

481,304

UPDATE: 3 things to know about Tesla's 'battery day'

5:45 pm ET September 21, 2020 (MarketWatch)
Print

By Claudia Assis, MarketWatch

Musk: Battery Day product won't reach 'serious high volume' until 2022

Tesla Inc. is set to showcase its battery capabilities on Tuesday, at an event the company has dubbed Battery Day.

The event will follow Tesla's annual shareholder meeting, at which shareholders are expected to re-elect the Tesla (TSLA) board's chairwoman despite some opposition, including a "no" recommendation from the two leading independent proxy advisers. (http://www.marketwatch.com/story/teslas-board-chair-faces-opposition-from-proxy-advisers-2020-06-16)

Both events are to be webcast (https://www.tesla.com/2020shareholdermeeting) starting at 4:30 p.m. Eastern.

Chief Executive Elon Musk late Monday sought to tone down expectations somewhat. He tweeted that the product or products set to be revealed Tuesday "will not reach serious high-volume production until 2022."

(https://twitter.com/elonmusk/status/1308148212876812289?s=20)

Wall Street seems to expect nothing less than the unveiling of technological advances that would cement Tesla's position as the leading electric vehicle-battery maker, showing strides toward lower prices and higher volumes of the costly and fundamental EV vehicle component.

Here are three things to know about Battery Day:

Another boost for the stock?

Battery Day is frequently cited as the "next catalyst" for Tesla's skyrocketing stock. The stock was one of a few ending Monday in the black, although it turned lower in the extended session with losses accelerating after Musk's tweet. At last check, the shares fell nearly 4% in the after hours.

Earlier this week, Deutsche Bank analyst Emmanuel Rosner boosted his price target on the stock by 33% to $400, citing the event. (http://www.marketwatch.com/story/tesla-gets-a-33-price-target-boost-but-stock-pulls-back-in-danger-of-snapping-5-day-win-streak-2020-09-16)

Rosner, who kept his rating on the shares at hold, said Tesla could unveil "a new insourced manufacturing system" to ramp up its battery capacity, improved cell chemistry, and "fast-declining" battery costs at the much-anticipated day.

On Friday, Piper Sandler analyst Alex Potter became the second-most bullish on the Street on Tesla, raising his price target to $515 from $480 and reiterating his overweight rating he's had on the stock for at least the past three years. Potter said he now expects Tesla's energy business to eventually exceed $200 billion a year in revenue. (http://www.marketwatch.com/story/tesla-stock-gets-a-price-target-bump-to-515-at-piper-sandler-2020-09-18)

Tesla shares have gained more than 400% this year, compared with gains of around 3% for the S&P 500 index. The company conducted a 5-for-1 stock split on Aug. 31. (http://www.marketwatch.com/story/5-things-to-know-about-tesla-ahead-of-its-5-for-1-stock-split-2020-08-28)

Battery Day is taking a page from a 2019 self-driving event

In April 2019, Tesla held an event dedicated to its in-house driverless-car hardware (http://www.marketwatch.com/articles/tesla-stock-dropped-self-driving-technology-autonomous-51555965417) and highlight the path toward fully autonomous vehicles that it promised to morph into a fleet of "robotaxis."

At the event, Tesla forecast that the robotaxis could be on the road in some locations as early as this year, one of many bold promises made that day by Musk.

Owners of Tesla vehicles could choose to add their vehicles to the future, app-managed fleet to defray car-ownership expenses, with Tesla taking a cut. So far, that has not materialized.

Musk may promise things that are far away

Tesla is no stranger to lofty goals that are not always realized.

"We caution investors against diving head-first into any claims that are 'years' away," Chris McNally at Evercore ISI said in a note this week, noting that it has been about four years since Musk made the first full self-driving claims, including a yet-to-be-started cross-country trip.

Instead, the focus should be on near-term performance metrics such as battery density, efficiency, and cost, which could impress Wall Street and keep Tesla at the forefront of EV battery technology, McNally said.

Tesla could also reveal more about its plans for mining the metals needed for EV batteries. At a call with analysts following Tesla's second-quarter earnings in July, Musk urged more mining companies to mine for nickel, (http://www.marketwatch.com/story/tesla-reports-surprise-q2-profit-2020-07-22) one of the metals used in batteries.

Tesla could also lift the veil on one of its most recent acquisitions, which it has said little about.

The company bought Maxwell Technologies Inc. in February 2019. (http://www.marketwatch.com/story/teslas-maxwell-deal-is-about-lowering-costs-and-keeping-a-battery-moat-2019-02-04)The all-stock deal valued Maxwell at $218 million, and it was a first for Tesla after a long hiatus: the company had previously completed an acquisition in November 2017, when it bought privately held Perbix Machine Co., a Minnesota-based maker of factory automation equipment, for an undisclosed amount. The company said at the time it wanted to "build the machine that makes the machine."

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

September 21, 2020 17:45 ET (21:45 GMT)

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