Foreign Companies News: Rio Tinto plc (ADR) (RIO), Novartis AG (ADR) (NVS), GlaxoSmithKline plc (ADR) (GSK)

Rio Tinto plc (ADR) (NYSE:RIO), the world’s second-biggest mining company, is now seeing iron ore trading close to $100 per metric ton. Chief Executive Officer Sam Walsh commented: “We are seeing a reduction in prices which, quite frankly, were are running at artificially high levels. We have seen the prices have come down to a more normalized level, which reflects really the point at which supply and demand cross (…) We are the lowest cost producer in the world [and prices around $100 are] truly sustainable going forward (…) We are also bringing on additional capacity which will help continue the improvements in our profitability” (Bloomberg TV).

Iron Ore Monthly Price – US Dollars per Dry Metric Toc

Screen Shot 2014-07-17 at 14.38.28

Source: IndexMundi

Novartis AG (ADR) (NYSE:NVS) posted second-quarter results today, and profits missed analyst estimates. The world’s largest drugmaker by sales reported a 2% increase in sales, to $14.6 billion, missing analysts’ projections of $14.8 billion, and a 3% upsurge in earnings, to $1.34 per share, coming short of the $1.36 per share expected by analysts.

However, the Swiss drugmaker is seeking a transformation by selling its vaccine and animal health unit, Bloomberg reported. Novartis AG (ADR) (NYSE:NVS)’s management said that the company will grow at a low to mid single-digit percentage rate for the full year.

GlaxoSmithKline plc (ADR) (NYSE:GSK) employees bribed Chinese officials and took kickbacks in 2011, to boost drug sales in the country –the company confirmed in an internal investigation. The Financial Times has also reported that GlaxoSmithKline plc (ADR) (NYSE:GSK) had also had problems with its China vaccine business in 2001, which had led to the firing of 30 employees. If the U.S. Department of Justice were to find a pattern of corrupt behavior, the sentence could be tougher, some legal experts believe.

Disclosure: Javier Hasse holds no position in any stocks or funds mentioned

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!