Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Trump's is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings.Europe Politicsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
Coinbase security chief Philip Martin explains, "Possession of a key is possession of your currency. What that means is that you can't revoke a cryptocurrency key, if that key...Technologyread more
* Drugmaker posts surprise Q1 rev miss
* Reaffirms its 2019 forecasts
* N.America revenue falls 6 pct (Adds analyst comments, updates shares)
May 7 (Reuters) - Drugmaker Mylan NV on Tuesday reported lower-than-expected quarterly revenue and failed to provide greater clarity on a potential revamp of the company's strategy, sending its shares down 17 percent to a more than six-and-a-half year low.
The company in August announced that its board had launched a strategic review, citing tough pricing environment for generics and said last quarter that the review was nearing completion.
But on a conference call with analysts on Tuesday Chief Executive Officer Heather Bresch declined to say when Mylan would announce its review results, saying it would be in the "near-term."
SVB Leerink analyst Ami Fadia said the delay raises questions about what the board may be considering as part of the review. "Visibility into any strategic changes could be critical in how investors view the stock."
Mylan has been grappling with lower drug prices as well as problems at its Morgantown facility in West Virginia after the U.S. health agency issued a warning letter last year.
Mylan, which also reaffirmed its 2019 forecasts, said its quarterly revenue was hit by lower volumes and a stronger dollar.
"We believe investors had braced themselves for a bottom line miss, but not the revenue weakness," Mizuho Securities analyst Irina Koffler said in a note titled 'bottom line beat irrelevant'.
Drugmakers such as Mylan and Teva Pharmaceutical Industries Ltd have suffered over the past few years as a steep fall in generic prices ate into their profits, but they have lately seen prices stabilizing.
Mylan said it does not expect price erosion in the generics market in the United States to accelerate in 2019.
Revenue from its North America business, its biggest, fell 6 percent to $922.9 million and missed estimates of $952.43 million, while sales at its Europe business dropped 14 percent to $895.3 million, below $1.06 billion that analysts expected.
Total revenue fell 7 percent to $2.50 billion and missed estimates of $2.69 billion, according to IBES data from Refinitiv.
The company reported a net loss of $25 million, or 5 cents per share, in the first quarter ended March 31, compared with profit of $87.1 million, or 17 cents per share, a year earlier.
Excluding items, the company earned 82 cents per share and beat expectations of 79 cents per share.
Shares of the company fell to $23.84 in afternoon trade on Tuesday. Since Bresch took the helm in 2012, Mylan shares have risen nearly 8 percent. (Reporting by Saumya Sibi Joseph, Aakash Jagadeesh Babu in Bengaluru and Michael Erman in New York; Editing by Arun Koyyur)