-=Alcon (ALC) reported earnings on Tue 12 May 20 (a/h)

Alcon beats by $0.11, beats on revs

Reports Q1 (Mar) earnings of $0.45 per share, $0.11 better than the S&P Capital IQ Consensus of $0.34; revenues fell 1.3% year/year to $1.8 bln vs the $1.69 bln S&P Capital IQ Consensus.

Outlook: Due to the uncertain scope and duration of the ongoing COVID-19 outbreak, the company is unable to provide an estimate for financial results for the full year 2020. While second quarter results will be negatively impacted by the health crisis, given the critical nature of eye care, customer demand is expected to resume when underlying conditions normalize and gradually lead to an improvement in the back half of the year.

Earnings this week : May 11 - 15, 20 (wk 20)

Monday (May 11)

• Morning: AMRX AN AVYA CAH CEVA CHH CLF CEIX CLR COTY EBIX ETR GOGO GBDC ICPT XENT MGLN MAR MYL ON ORA PK RDNT TERP UAA UNVR XHR ZBH
• Afternoon: TXG XLRN AIMT AMBC AMCR AEE AFG AMN BE BHF CABO CBT CZR CDLX CSOD DDOG DRH DIOD ERI ECPG ET ENSG ETH EB EXTR FATE FOE FBM G GDOT GSKY GO GWPH HALO HHC IIVI IPAR IFF JCOM KAMN LTHM LOGI MBI MESA MIME NHI NSA PLYA PTLA KWR REPH RETA RPAY SGMO SCSC SPG SUN TME TLRY

Tuesday (May 12)

• Morning: BNTX CVLT DUK DT FI HMC IR MAC NOVT FLOW TUFN VSH
• Afternoon: EGHT ADPT ALC ALGT NVST HCAT INFN OR PGNY RXN RLJ SWAV VREX 

Wednesday (May 13)

• Morning: CYBR PGTI TSEM
• Afternoon: ONEM CSCO FLO JACK NVGS OII SDC STE VRTU

Thursday (May 14)

• Morning: AZUL BAM AG GDS KEM NICE NCLH NVMI SPNS SSYS WNC WIX
• Afternoon: ACB AMAT CVET DENN FTCH GLOB GTBIF HBM NEWR NLOK SSRM

Friday (May 15) 

• Morning: JD PBF VFC

====Alcon (ALC) is spun off from Novartis (NVS)

Alcon, one of the world’s leading eye-care companies, is being spun off from Swiss drug giant Novartis and will begin trading on the New York Stock Exchange and SIX Swiss Exchange on Tuesday.

The expectation on Wall Street is that Alcon’s American depositary receipts (ticker: ALC) will trade at between $40 and $50 each, but there is some uncertainty about the price. Unlike for most spinoffs of U.S. companies, there has been no so-called when-issued trading in the shares.

Novartis said the spinoff gives it a financial profile close to that of its industry peers, and said it is well-positioned for sustained top- and bottom-line growth. The company plans to improve innovative medicine core margins into the mid-30s by 2022.

Vas Narasimhan, chief executive of Novartis, said: "We continue to reimagine ourselves as a leading medicines company powered by breakthrough medicines, data science and advanced therapy platforms."

Novartis said it plans to continue paying a "strong and growing" annual dividend up from the 2.85 Swiss francs ($2.85) a share paid in 2019, with no adjustments for the Alcon spinoff.

The company said it expects to complete its previously announced share-buyback program of up to $5 billion by the end of the year.