TransUnion to Buy Callcredit, Novartis Profit Surges on Cancer Drug

Sarla Buch
20 Apr, 2018
New York City

Callcredit agreed to be acquired by the U.S.-based TransUnion for

[R]4:00 PM Frankfurt – Callcredit agreed to be acquired by the U.S.-based TransUnion for £1 billion. Faurecia first-quarter sales soared 9% but reported cautious outlook. Novartis profit surged after higher sales growth. Reckitt Benckiser sales soared on strong growth in North America.[/R]

In London trading, FTSE 100 index rose 24.20 or 0.3% to 7,353.14 and in Frankfurt the DAX index fell 31.21 or 0.3% to 12,536.21.

In Paris, CAC 40 index increased 11.24 or 0.2% to 5,402.48.

Callcredit Information Group Limited, the U.K.-based consumer information and direct marketing services provider agreed to be acquired by the U.S.-based TransUnion for about £1 billion or $1.4 billion.

The transaction is expected to close in the second-quarter or early third quarter of this year.

Faurecia SA slipped 1.3% to €67.88 after France-based automobile parts maker reported sales in the first-quarter ending in March soared 9.3% from a year ago to €4.3 billion.

Sales in Europe jumped 9.1% to €2.3 billion, in North America advanced 4.2% to €1.1 billion and in Asia surged 15.2% to €742 million.

In fiscal 2018, Faurecia forecasted worldwide automotive production to grow 2% and sales to jump 7%, operating margin to jump 7% and the company estimated net cash flow of €500 million and earnings per share of about €5.

Novartis AG dropped 1.5% to 76.14 Swiss francs after Switzerland-based healthcare products maker reported net sales in the first-quarter ending in March soared 10% from a year ago to $12.7 billion.

Net income in the quarter surged 22% to $2 billion from $1.7 billion in a year ago period and diluted earnings per share increased to 87 cents from 70 cents in the same period a year ago.

Novartis said higher profit was mainly driven after heart failure drug Entresto sales more than doubled to $200 million and oncology business returned to growth with sales increasing 6%.

The healthcare products maker reaffirmed fiscal 2018 group net sales to grow in low to mid-single digit and operating income to grow in mid-to-high single digit.

Reckitt Benckiser Group Plc declined 5% to 5,495 pence after the U.K.-based health, hygiene, and home products maker reported revenues in the first-quarter ending in March surged 23% from a year ago to £3.1 billion.

The consumer goods maker said sales in North America soared 26% to £787 million while sales in the Europe was flat at £1.1 billion.

Reckitt Benckiser forecasted fiscal 2018 net revenues growth between 13% and 14%.