Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I'm going to get you a little bit of a
Speaker 3: sneak peek on some of the stocks that are catching
Speaker 3: a rye on the day. Alex Siminova does that for
Speaker 3: us on the single stock moves and not at all.
Speaker 3: Disc one that has been an interesting ride throughout twenty
Speaker 3: twenty five.
Speaker 4: What's the doing today?
Speaker 1: Yeah, company that was a big winner and has now
Speaker 1: turned into a loser. Unfortunately, it cut the listing price
Speaker 1: of its obesity drug Wagovi by half in some parts
Speaker 1: of China. This was reported by the local media there.
Speaker 1: The Danish drug maker is getting ready for a potential
Speaker 1: flood of copycats as in China as its Semiglue tide
Speaker 1: patenteer's expiration that is the key ingredient in some of
Speaker 1: those obesity drugs. The prices of the drug offered by
Speaker 1: Chinese e commerce GIANTJD dot Com we're also lowered. And
Speaker 1: we always talk about the AI arms race, but you
Speaker 1: got to look at the JLP one arms race. Also
Speaker 1: a Novo Nordisk was of course at the forefront of
Speaker 1: this space with its blockbusters wigov and Ozepic, but it
Speaker 1: is now down forty percent year to date as the
Speaker 1: competition heats up in the space. Rival Eli Lilly, by contrast,
Speaker 1: is up forty percent. It has really emerged as a winner.
Speaker 2: What else Scott fors here today?
Speaker 1: So can always count on biotech companies to show some
Speaker 1: outsized moves, and one of them is Practice Precision Medicine
Speaker 1: that is ticker prax. It's sort as much as eighteen
Speaker 1: percent today to breach the highest intra day level since
Speaker 1: twenty twenty one. This is a biotech company that received
Speaker 1: a breakthrough therapy designation by the FDA for treatment of
Speaker 1: patients with essential tremor. Piper Sandler analysts say that they
Speaker 1: notched quote another major win with this development. They believe
Speaker 1: that Pracxice is positioned for a monumental twenty twenty six
Speaker 1: and also looking at some of the other movers in
Speaker 1: the space, biotech stocks are going kind of crazy today.
Speaker 1: Some other names that saw poor results on some of
Speaker 1: their studies Ultragenics Pharmaceutical. Those shares are down forty two
Speaker 1: percent that is ticker rare and a remarkable room. A
Speaker 1: move here on Mario bioformer group. It is falling ninety percent.
Speaker 1: Not every day that you see that type of move.
Speaker 4: Let's talk about moves on the day, actually swinging between
Speaker 4: gains and losses. We were lost, now I'm back into
Speaker 4: the green. If you're looking at Lululemon, what swings we
Speaker 4: are seeing being taken by the founder of the business,
Speaker 4: Chip Wilson.
Speaker 1: Yeah, this has been the big story of today. He
Speaker 1: is launching a proxy fight at the retailer in an
Speaker 1: effort to remake the company's board as they wait for
Speaker 1: a new CEO. Wilson has nominated three director candidates to
Speaker 1: the company's board. According to sources, the nominees are executives
Speaker 1: from on running ESPN and Activision, so looking for folks
Speaker 1: here who are really familiar with the space. He still
Speaker 1: remains Lulu's second biggest shareholder, with a nearly nine percent
Speaker 1: stake in the company. He also reportedly isn't really trying
Speaker 1: to put himself back on the board, just trying to
Speaker 1: have some say in the future of the company. And
Speaker 1: it is rare to see a founder of a company
Speaker 1: turning to a hostile approach in the way that he
Speaker 1: is right now. Lululemon is, of course, in the midst
Speaker 1: of somewhat of an identity crisis, after announcing that it's CEO,
Speaker 1: Calvin McDonald, will be leaving in January. It seems like
Speaker 1: twenty twenty five I've had a fair amount of activist
Speaker 1: investor activity.
Speaker 2: I mean, I guess I'm.
Speaker 3: I mean, stock markets hitting all time high. I would
Speaker 3: think you'd see it on the other side.
Speaker 1: Especially in retailers. A lot of those companies seeing people
Speaker 1: step in and try to revamp the stock prices. Target
Speaker 1: recently announced for the same.
Speaker 3: Okay, very good. I guess that's a living for some people.
Speaker 2: This stock mover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the its market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
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