WEBVTT - Novo Dordisk Drops; Alibaba Soars; Biogen Rises

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

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<v Speaker 1>your roundup of companies making moves in the stock market,

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<v Speaker 1>harnessing the power of Bloomberg data.

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<v Speaker 2>Let's take a look at some stocks on the move today.

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<v Speaker 2>I'm Tom Keen with Paul Sweeny and Bloomberg's Lisa Matteo.

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<v Speaker 3>Let's start there. Yes, Novo, notice their shares have been

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<v Speaker 3>down as much as twelve percent in Copenhagen. That's actually

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<v Speaker 3>the lowest level since July of twenty twenty one. The

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<v Speaker 3>reason why is because the pill version, the pill version

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<v Speaker 3>of its ozempic, it didn't slow the progression of Alzheimer's

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<v Speaker 3>disease and a pair of high risk studies. Now that

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<v Speaker 3>is a big setback because it was kind of opening

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<v Speaker 3>that door to a new use for the drug instead

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<v Speaker 3>of just weight loss. They've been struggling after. You know,

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<v Speaker 3>they're losing that top spot to Eli Lilly in the

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<v Speaker 3>obesity market. They couldn't acquire obesity sort of Metzerah away

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<v Speaker 3>from Pfizer. Their value is more than half this year,

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<v Speaker 3>and they have investor concerns over its long term competitiveness,

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<v Speaker 3>so a lot running against it. This did not help things.

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<v Speaker 3>Because of the results from these studies, Novo's going to

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<v Speaker 3>discontinue that planned one year extension of the studies. So

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<v Speaker 3>yet Eli Lilly their shares actually think on this news

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<v Speaker 3>to two. But Biogen, which is developing different Alzheimer's drugs,

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<v Speaker 3>their shares rose nearly seven percent.

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<v Speaker 2>I mean, I remember you guys talking about the signs

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<v Speaker 2>out on thirty Avenue, Lexington Avenue at the advent of

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<v Speaker 2>all this. Where are we in the next year with

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<v Speaker 2>everybody taking this stuff.

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<v Speaker 4>I don't know. I mean I kind of. I think

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<v Speaker 4>when they have the oral yeah, I think that's going

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<v Speaker 4>to be big hill Yes, And when the price comes

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<v Speaker 4>down even more, that'll be big I think. But I

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<v Speaker 4>mean I'm looking at Novil Nordics. You weren't kidding, Lisa.

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<v Speaker 4>This has got one and a quarter trillion dollars valuation,

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<v Speaker 4>but it's off by fifty percent this year. I mean,

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<v Speaker 4>that's a trillion dollars of shareholder value just lost this year.

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<v Speaker 2>Sitting moments ago, literally is Lisa reports Jeffrey Meatium over

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<v Speaker 2>City Group, Eli Lilly A bye next.

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<v Speaker 3>Or you go Joe size Ali Baba, Okay, Yeah, there's zero,

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<v Speaker 3>there's your boy. Their shares have been up more than

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<v Speaker 3>four percent in Hong Kong.

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<v Speaker 2>So.

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<v Speaker 3>The company said it's rebranded qn ai tool Okay, that's

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<v Speaker 3>what it's called. It hit ten million downloads in the

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<v Speaker 3>first week after it became available to the public. It

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<v Speaker 3>is in the top three of Apple's app store in China.

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<v Speaker 3>It's basically looking to compete with open Aiyes, Chat GPT.

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<v Speaker 3>So what exactly is qn okay? So it has Ali

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<v Speaker 3>Baba's latest language model, large language model capabilities, but it

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<v Speaker 3>is also set to incorporate Aegentic for functions like e commerce,

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<v Speaker 3>you know, the whole online shopping. The company said it's

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<v Speaker 3>their most significant step yet in the consumer AI market.

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<v Speaker 3>What will go into this, So they plant and integrate

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<v Speaker 3>things like like core lifestyle productivity services like digital maps,

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<v Speaker 3>food delivery, travel booking, office tools, e commerce education, I mean,

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<v Speaker 3>health guidance. Yeah, it's a big, big, big market. The

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<v Speaker 3>agents were being.

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<v Speaker 2>People doing food delivery. I don't get it.

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<v Speaker 4>They're all on the streets of like third Avenue here.

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<v Speaker 2>They've all pulled back. I mean, there were some charts

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<v Speaker 2>this weekend of the pullback. Okay, you know of a

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<v Speaker 2>lot of these tech stocks and have some, dammit.

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<v Speaker 1>So this Stock Movers report from Bloomberg Radio. Check back

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