ADRs End Lower; DBV Technologies Trades Actively
October 23 2017 - 7:14PM
Dow Jones News
International stocks trading in New York closed lower on
Monday.
The BNY Mellon index of American depositary receipts fell 0.5%
to 149.81. The European index slipped 0.3% to 139.57. The Asian
index decreased 0.6% to 174.25. The emerging-markets index declined
0.9% to 322.64. The Latin American index declined 1.4% to
251.89.
DBV Technologies SA (DBVT) was among those with ADRs that traded
actively.
Recent cuts from analysts in DBV Technologies' target price
weighed on the French biopharmaceutical firm in Monday trading.
Barclays cut its target price to $30 a share from $58 a share, and
Leerink Swann lowered its target price to $49 a share from $60 a
share. The cuts follow the company's announcement on Friday that it
fell short of goals in late-stage clinical trials for its
peanut-allergy treatment for children. ADRs fell 41% to $28.32.
Pharmaceuticals company Novartis AG (NVS) is expected to report
a rise in revenue and profit in its latest quarter as it depends on
sales from its newest drugs to offset the revenue lost from old
blockbusters that now face competition from cheaper generics. The
company's report is due Tuesday morning. ADRs rose 0.2% to $85.91
ahead of the report.
Royal Philips NV (PHG) reported a decline in third-quarter net
income, but the company maintained its full-year financial targets.
The company reported 4% comparable sales growth in the quarter, led
by its connected care and health informatics business. ADRs rose
0.9% to $41.96.
(END) Dow Jones Newswires
October 23, 2017 18:59 ET (22:59 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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