1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,759 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,000 --> 00:00:18,520 Speaker 3: I'm going to get you a little bit of a 5 00:00:18,520 --> 00:00:20,960 Speaker 3: sneak peek on some of the stocks that are catching 6 00:00:20,960 --> 00:00:23,200 Speaker 3: a rye on the day. Alex Siminova does that for 7 00:00:23,280 --> 00:00:25,400 Speaker 3: us on the single stock moves and not at all. 8 00:00:25,480 --> 00:00:28,040 Speaker 3: Disc one that has been an interesting ride throughout twenty 9 00:00:28,080 --> 00:00:28,520 Speaker 3: twenty five. 10 00:00:28,560 --> 00:00:29,320 Speaker 4: What's the doing today? 11 00:00:29,480 --> 00:00:32,160 Speaker 1: Yeah, company that was a big winner and has now 12 00:00:32,200 --> 00:00:35,840 Speaker 1: turned into a loser. Unfortunately, it cut the listing price 13 00:00:35,960 --> 00:00:39,280 Speaker 1: of its obesity drug Wagovi by half in some parts 14 00:00:39,320 --> 00:00:41,840 Speaker 1: of China. This was reported by the local media there. 15 00:00:42,240 --> 00:00:45,360 Speaker 1: The Danish drug maker is getting ready for a potential 16 00:00:45,400 --> 00:00:49,479 Speaker 1: flood of copycats as in China as its Semiglue tide 17 00:00:49,720 --> 00:00:53,760 Speaker 1: patenteer's expiration that is the key ingredient in some of 18 00:00:53,760 --> 00:00:57,360 Speaker 1: those obesity drugs. The prices of the drug offered by 19 00:00:57,480 --> 00:01:01,360 Speaker 1: Chinese e commerce GIANTJD dot Com we're also lowered. And 20 00:01:01,400 --> 00:01:04,400 Speaker 1: we always talk about the AI arms race, but you 21 00:01:04,480 --> 00:01:07,039 Speaker 1: got to look at the JLP one arms race. Also 22 00:01:07,560 --> 00:01:10,240 Speaker 1: a Novo Nordisk was of course at the forefront of 23 00:01:10,280 --> 00:01:14,000 Speaker 1: this space with its blockbusters wigov and Ozepic, but it 24 00:01:14,080 --> 00:01:17,880 Speaker 1: is now down forty percent year to date as the 25 00:01:17,920 --> 00:01:21,679 Speaker 1: competition heats up in the space. Rival Eli Lilly, by contrast, 26 00:01:21,720 --> 00:01:24,720 Speaker 1: is up forty percent. It has really emerged as a winner. 27 00:01:26,200 --> 00:01:27,600 Speaker 2: What else Scott fors here today? 28 00:01:27,880 --> 00:01:31,640 Speaker 1: So can always count on biotech companies to show some 29 00:01:31,800 --> 00:01:35,640 Speaker 1: outsized moves, and one of them is Practice Precision Medicine 30 00:01:35,640 --> 00:01:39,160 Speaker 1: that is ticker prax. It's sort as much as eighteen 31 00:01:39,240 --> 00:01:42,959 Speaker 1: percent today to breach the highest intra day level since 32 00:01:43,000 --> 00:01:46,160 Speaker 1: twenty twenty one. This is a biotech company that received 33 00:01:46,200 --> 00:01:50,200 Speaker 1: a breakthrough therapy designation by the FDA for treatment of 34 00:01:50,280 --> 00:01:54,320 Speaker 1: patients with essential tremor. Piper Sandler analysts say that they 35 00:01:54,440 --> 00:01:58,920 Speaker 1: notched quote another major win with this development. They believe 36 00:01:58,960 --> 00:02:02,680 Speaker 1: that Pracxice is positioned for a monumental twenty twenty six 37 00:02:02,680 --> 00:02:04,920 Speaker 1: and also looking at some of the other movers in 38 00:02:05,000 --> 00:02:08,720 Speaker 1: the space, biotech stocks are going kind of crazy today. 39 00:02:08,760 --> 00:02:11,480 Speaker 1: Some other names that saw poor results on some of 40 00:02:11,520 --> 00:02:15,720 Speaker 1: their studies Ultragenics Pharmaceutical. Those shares are down forty two 41 00:02:15,800 --> 00:02:19,480 Speaker 1: percent that is ticker rare and a remarkable room. A 42 00:02:19,560 --> 00:02:23,920 Speaker 1: move here on Mario bioformer group. It is falling ninety percent. 43 00:02:24,080 --> 00:02:25,720 Speaker 1: Not every day that you see that type of move. 44 00:02:26,360 --> 00:02:28,840 Speaker 4: Let's talk about moves on the day, actually swinging between 45 00:02:28,880 --> 00:02:31,040 Speaker 4: gains and losses. We were lost, now I'm back into 46 00:02:31,040 --> 00:02:34,440 Speaker 4: the green. If you're looking at Lululemon, what swings we 47 00:02:34,440 --> 00:02:36,440 Speaker 4: are seeing being taken by the founder of the business, 48 00:02:36,520 --> 00:02:37,080 Speaker 4: Chip Wilson. 49 00:02:37,360 --> 00:02:39,680 Speaker 1: Yeah, this has been the big story of today. He 50 00:02:39,800 --> 00:02:42,480 Speaker 1: is launching a proxy fight at the retailer in an 51 00:02:42,480 --> 00:02:45,440 Speaker 1: effort to remake the company's board as they wait for 52 00:02:45,760 --> 00:02:49,920 Speaker 1: a new CEO. Wilson has nominated three director candidates to 53 00:02:50,080 --> 00:02:54,080 Speaker 1: the company's board. According to sources, the nominees are executives 54 00:02:54,120 --> 00:02:58,480 Speaker 1: from on running ESPN and Activision, so looking for folks 55 00:02:58,480 --> 00:03:01,280 Speaker 1: here who are really familiar with the space. He still 56 00:03:01,320 --> 00:03:05,080 Speaker 1: remains Lulu's second biggest shareholder, with a nearly nine percent 57 00:03:05,160 --> 00:03:08,480 Speaker 1: stake in the company. He also reportedly isn't really trying 58 00:03:08,480 --> 00:03:10,560 Speaker 1: to put himself back on the board, just trying to 59 00:03:10,600 --> 00:03:13,240 Speaker 1: have some say in the future of the company. And 60 00:03:13,600 --> 00:03:16,120 Speaker 1: it is rare to see a founder of a company 61 00:03:16,160 --> 00:03:18,440 Speaker 1: turning to a hostile approach in the way that he 62 00:03:18,520 --> 00:03:21,079 Speaker 1: is right now. Lululemon is, of course, in the midst 63 00:03:21,120 --> 00:03:24,760 Speaker 1: of somewhat of an identity crisis, after announcing that it's CEO, 64 00:03:24,840 --> 00:03:27,519 Speaker 1: Calvin McDonald, will be leaving in January. It seems like 65 00:03:27,560 --> 00:03:30,160 Speaker 1: twenty twenty five I've had a fair amount of activist 66 00:03:30,240 --> 00:03:31,600 Speaker 1: investor activity. 67 00:03:32,120 --> 00:03:33,000 Speaker 2: I mean, I guess I'm. 68 00:03:33,720 --> 00:03:35,800 Speaker 3: I mean, stock markets hitting all time high. I would 69 00:03:35,800 --> 00:03:37,440 Speaker 3: think you'd see it on the other side. 70 00:03:37,280 --> 00:03:40,080 Speaker 1: Especially in retailers. A lot of those companies seeing people 71 00:03:40,120 --> 00:03:43,720 Speaker 1: step in and try to revamp the stock prices. Target 72 00:03:43,760 --> 00:03:46,320 Speaker 1: recently announced for the same. 73 00:03:46,400 --> 00:03:49,200 Speaker 3: Okay, very good. I guess that's a living for some people. 74 00:03:50,800 --> 00:03:54,800 Speaker 2: This stock mover's report from Bloomberg Radio. Check back with 75 00:03:54,880 --> 00:03:57,480 Speaker 2: us throughout the day for the latest roundup of companies 76 00:03:57,560 --> 00:04:00,640 Speaker 2: making news on Wall Street and for the its market 77 00:04:00,680 --> 00:04:05,120 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 78 00:04:05,240 --> 00:04:08,720 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 79 00:04:08,800 --> 00:04:10,280 Speaker 2: the Bloomberg Business app.