WEBVTT - Novo Nordisk Falls, Praxis Precision Rallies, Lululemon Rises

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>The Stock Movers report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>I'm going to get you a little bit of a

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<v Speaker 3>sneak peek on some of the stocks that are catching

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<v Speaker 3>a rye on the day. Alex Siminova does that for

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<v Speaker 3>us on the single stock moves and not at all.

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<v Speaker 3>Disc one that has been an interesting ride throughout twenty

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<v Speaker 3>twenty five.

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<v Speaker 4>What's the doing today?

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<v Speaker 1>Yeah, company that was a big winner and has now

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<v Speaker 1>turned into a loser. Unfortunately, it cut the listing price

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<v Speaker 1>of its obesity drug Wagovi by half in some parts

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<v Speaker 1>of China. This was reported by the local media there.

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<v Speaker 1>The Danish drug maker is getting ready for a potential

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<v Speaker 1>flood of copycats as in China as its Semiglue tide

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<v Speaker 1>patenteer's expiration that is the key ingredient in some of

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<v Speaker 1>those obesity drugs. The prices of the drug offered by

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<v Speaker 1>Chinese e commerce GIANTJD dot Com we're also lowered. And

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<v Speaker 1>we always talk about the AI arms race, but you

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<v Speaker 1>got to look at the JLP one arms race. Also

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<v Speaker 1>a Novo Nordisk was of course at the forefront of

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<v Speaker 1>this space with its blockbusters wigov and Ozepic, but it

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<v Speaker 1>is now down forty percent year to date as the

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<v Speaker 1>competition heats up in the space. Rival Eli Lilly, by contrast,

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<v Speaker 1>is up forty percent. It has really emerged as a winner.

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<v Speaker 2>What else Scott fors here today?

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<v Speaker 1>So can always count on biotech companies to show some

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<v Speaker 1>outsized moves, and one of them is Practice Precision Medicine

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<v Speaker 1>that is ticker prax. It's sort as much as eighteen

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<v Speaker 1>percent today to breach the highest intra day level since

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<v Speaker 1>twenty twenty one. This is a biotech company that received

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<v Speaker 1>a breakthrough therapy designation by the FDA for treatment of

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<v Speaker 1>patients with essential tremor. Piper Sandler analysts say that they

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<v Speaker 1>notched quote another major win with this development. They believe

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<v Speaker 1>that Pracxice is positioned for a monumental twenty twenty six

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<v Speaker 1>and also looking at some of the other movers in

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<v Speaker 1>the space, biotech stocks are going kind of crazy today.

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<v Speaker 1>Some other names that saw poor results on some of

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<v Speaker 1>their studies Ultragenics Pharmaceutical. Those shares are down forty two

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<v Speaker 1>percent that is ticker rare and a remarkable room. A

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<v Speaker 1>move here on Mario bioformer group. It is falling ninety percent.

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<v Speaker 1>Not every day that you see that type of move.

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<v Speaker 4>Let's talk about moves on the day, actually swinging between

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<v Speaker 4>gains and losses. We were lost, now I'm back into

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<v Speaker 4>the green. If you're looking at Lululemon, what swings we

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<v Speaker 4>are seeing being taken by the founder of the business,

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<v Speaker 4>Chip Wilson.

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<v Speaker 1>Yeah, this has been the big story of today. He

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<v Speaker 1>is launching a proxy fight at the retailer in an

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<v Speaker 1>effort to remake the company's board as they wait for

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<v Speaker 1>a new CEO. Wilson has nominated three director candidates to

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<v Speaker 1>the company's board. According to sources, the nominees are executives

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<v Speaker 1>from on running ESPN and Activision, so looking for folks

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<v Speaker 1>here who are really familiar with the space. He still

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<v Speaker 1>remains Lulu's second biggest shareholder, with a nearly nine percent

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<v Speaker 1>stake in the company. He also reportedly isn't really trying

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<v Speaker 1>to put himself back on the board, just trying to

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<v Speaker 1>have some say in the future of the company. And

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<v Speaker 1>it is rare to see a founder of a company

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<v Speaker 1>turning to a hostile approach in the way that he

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<v Speaker 1>is right now. Lululemon is, of course, in the midst

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<v Speaker 1>of somewhat of an identity crisis, after announcing that it's CEO,

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<v Speaker 1>Calvin McDonald, will be leaving in January. It seems like

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<v Speaker 1>twenty twenty five I've had a fair amount of activist

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<v Speaker 1>investor activity.

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<v Speaker 2>I mean, I guess I'm.

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<v Speaker 3>I mean, stock markets hitting all time high. I would

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<v Speaker 3>think you'd see it on the other side.

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<v Speaker 1>Especially in retailers. A lot of those companies seeing people

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<v Speaker 1>step in and try to revamp the stock prices. Target

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<v Speaker 1>recently announced for the same.

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<v Speaker 3>Okay, very good. I guess that's a living for some people.

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<v Speaker 2>This stock mover's report from Bloomberg Radio. Check back with

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<v Speaker 2>us throughout the day for the latest roundup of companies

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<v Speaker 2>making news on Wall Street and for the its market

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