FDA Approves AstraZeneca Cancer Drug, Vopak Lowers Forecast

Sarla Buch
18 Aug, 2017
New York City

AstraZeneca ovarian cancer drug won approval of the U.S. Geberit profit declined. GN Store Nord net plunged 21% but reaffirmed fiscal 2017 forecast. Heineken won a clearance to acquire Punch Taverns. NN Group profit surged 12%. Vopak lowered operating profit forecast.

[R]4:00 PM Frankfurt – AstraZeneca ovarian cancer drug won approval of the U.S. Geberit profit declined. GN Store Nord net plunged 21% but reaffirmed fiscal 2017 forecast. Heineken won a clearance to acquire Punch Taverns. NN Group profit surged 12%. Vopak lowered operating profit forecast.[/R]

In London trading, FTSE 100 index declined 83.60 or 1.1% to 7,304.27 and in Frankfurt the DAX index dropped 71.99 or 0.6% to 12,131.48.

In Paris, CAC 40 index slumped 61.21 or 1.2% to 5,085.64.

For the week, FTSE 100 index edged up 0.05%, the DAX index increased 0.9% and the CAC 40 index gained 0.5%.

AstraZeneca Plc slumped 3.8% to 4,429 pence after the U.S. Food & Drug Administration approved to sell Lynparza ovarian cancer drug in a new tablet form of AstraZeneca and Merck & Co and also agreed for two-tablets per day from the present dose of eight capsules.

Geberit AG slipped 0.8% to 447.70 Swiss francs after Switzerland-based sanitary and plumbing products provider reported net sales in the first-half ending in June fell 0.7% from a year ago to 1.5 billion francs.

Net income in the period declined 18.4% to 258.2 million francs from 316.3 million francs in a year ago six-month period and diluted earnings per share dropped to 7.01 francs from 8.58 francs.

Geberit said sales in sanitary segment jumped 6.7% and the piping business sales rose 2.1% but sales in sanitary ceramics business declined 3.5%.

GN Store Nord A/S advanced 2.3% to 205.40 Danish kronor after Denmark-based hearing aid maker said revenues in the first-half ending in June soared 16% from a year ago to 2.9 billion kronor.

Net profit in the period plunged 21.3% to 536 million kronor from 442 million kronor in a year ago six-month period and diluted earnings per share decreased to 3.80 kronor from 2.94 kronor.

GN Hearing reaffirmed fiscal 2017 organic growth forecast of more than 6% and operating margin more than 20%.

Heineken N.V fell 0.9% to €86.96 after the Netherlands-based brewing and beer seller received approval from the U.K.’s Competition and Markets Authority to acquire 1,900 pubs of U.K.-based Punch Taverns Plc.

The deal is estimated to complete by the end of this month.

NN Group NV decreased 0.9% to €34.70 after the Netherlands-based insurance and investment services provider reported total revenues in the first-half ending in June rose 1.2% to €8.6 billion.

Net profit in the period surged 11.6% to €676 million from €605 million in a year ago six-month period and diluted earnings per share jumped to €2 from €1.81.

The insurer’s operating profit in the period soared 29.4% to €810 million, following merger with Delta Lloyd.

Koninklijke Vopak N.V plummeted 8.2% to €37.97 after the Netherlands-based oil, gases and liquid chemicals storage services provider reported revenues in the first-half ending in June fell 1.5% to €669.3 million.

Net profit in the period tumbled 61.3% to €148.8 million from €384.6 million in a year ago six-month period and diluted earnings per share slumped to €1.17 from €3.01.

Vopak lowered fiscal 2017 operating profit in the range of 5% to 10% from the reported operating profit of €822 million in the same period a year ago after lower occupancy rates.