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Novartis said earnings were $1.22 a share in the three months ended in June, firmly ahead of analysts' estimates of $1.14 but down from the $1.23 generated over the same period last year. Group sales were $12.24 billion, down 2% from last year but ahead of analysts' forecasts of $11.83 billion.
Alcon, the comapny's eyecare division that is currently under strategic review, saw sales grow 3% from last year to $1.5 billion and Novartis now sees full-year revenue growing in the "low single digit" range, a modestly higher forecast than it provided earlier this year. It also said it would provide an update on the review of the unit, which some have speculated could be sold toward the end of 2017.
5. -- Tesla Inc. (TSLA) added two directors to the board of the electric-vehicle maker, including James Murdoch, CEO of Twenty-First Century Fox Inc.
Also appointed to the board was Linda Johnson Rice, who heads Ebony Magazine publisher Johnson Publishing Co.
The board was increased to nine members from seven.
Tesla shares fell 2.5% on Monday to $319.57. The stock has risen 49.55% year to date.