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

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!