Novartis, Centene profit weak

Investor's Business Daily

Centene (CNC - News) and Novartis (NVS - News) shares dropped on negative earnings reports. Swiss drugmaker Novartis slid 1.5% after it said Q1 EPS fell 10% to $1.27, missing views by 5 cents. Sales fell 2% to $13.74 bil, also missing estimates. The company said a factory stoppage at a U.S. site hurt results. Health insurer Centene's Q1 EPS faded 2% to 45 cents, missing projections by 3 cents. Revenue climbed 41% to $1.7 billion, topping views. Centene's shares fell 5.9%.

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