Novartis AG (ADR) (NYSE: NVS)
Novartis is having a relatively strong day in the market today. When the market opened, the stock was trading slightly in the green. From there, we’ve seen slow and steady upward movement, bringing the stock to decent gains. However, minutes ago, news came down the wire that could lead to a bit of volatility. Below, we’ll talk about the news coming down the wire, what we’re seeing from NVS, and what we’ll be watching for ahead.
News Coming Down The Wire About NVS
As mentioned above, at the moment, news is coming down the wire with regard to NVS, and it’s not necessarily great news. Unfortunately, the company is being investigated by both the United States Securities and Exchange Commission and the United States Department of Justice. The investigation surrounds Greece payments.
At the moment, there’s not much by way of information offered. We do know that the SEC and DOJ have opened an investigation into the company surrounding Greece payments. We also know that Novartis is being cooperative in the process and plans on continuing to do so. However, other than that, we’re still working to dig up the details.
What We’re Seeing From The Stock
As mentioned above, Novartis has had a relatively normal day in the market. When the trading session started, the stock was slightly in the green. It took a bit of a dip from there before heading on a slow and steady upward movement. We’re keeping a close eye on Trade Ideas and Tradespoon for alerts associated with action, but nothing seems to be happening as of yet. Nonetheless, at the moment (11:08), NVS is trading at $71.33 per share after a gain of $1.30 per share (1.86%) thus far today.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on NVS. In particular, we’re interested in learning more about the investigation into the company as well as the company’s response. We’ll be keeping a close eye on the news and bringing it to you as it breaks!
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