HSBC Falls, Novartis Rises, UMG Sound Up
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - HSBC shares decline as much as 7.1% in London, making the stock the worst performer Tuesday on the Stoxx 600 Banks Index, after the lender’s 3Q revenue fell short of expectations, with analysts pointing to weak net interest income. Shares in Hong Kong are 5.2% lower. - Novartis raised its outlook for the year as growth from newer medicines increasingly offset the hit from generic competition to former blockbuster Entresto. - Shares in Universal Music Group, the world’s largest record company, rose after it discussed going private with a few prominent Wall Street firms, according to people familiar with the matter. See omnystudio.com/listener for privacy information.