WEBVTT - Viking Soars; On Holding Climbs; Quest Diagnostics Drops

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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. Let's see what's happening

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<v Speaker 1>with some individual names. We'll go to Judy LaGrove, covers

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<v Speaker 1>all the equity stuff for us at Bloomberg News.

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<v Speaker 2>Judy, what are you looking at today? Good morning, Paul. First,

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<v Speaker 2>I'm looking at Viking Therapeutics, ticker VKTX. Shares are soaring

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<v Speaker 2>as much as 33% today, and it's on track for

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<v Speaker 2>its best day since July 2024. So that's nearly two years.

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<v Speaker 2>And this is coming after the company released data from

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<v Speaker 2>their weight loss maintenance study showing that its injected obesity

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<v Speaker 2>drug maintained up to 97% of weight loss when subjects

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<v Speaker 2>did every other week dosing and up to 90% of

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<v Speaker 2>weight loss when subjects switched to monthly dosing. So this

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<v Speaker 2>is a big story around GLP-1s and sort of the

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<v Speaker 2>maintenance that will require. And so Viking Therapeutics results are

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<v Speaker 2>really an optimistic sign for that particular process. Truist analysts

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<v Speaker 2>called these results, quote, the best case scenario we had framed.

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<v Speaker 2>So big news for that company.

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<v Speaker 1>Definitely big news. All right. Next on your list?

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<v Speaker 2>Sure, Scarlett. On holding, ticker ONON. Shares are rallying as

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<v Speaker 2>much as 14%. with shares prices having their best day

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<v Speaker 2>since last November. And this is coming after the company

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<v Speaker 2>declared a buyback plan of up to $ 1 billion of

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<v Speaker 2>its shares through the end of 2029. It also projected

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<v Speaker 2>third quarter sales growth to be up about 17%. Onholding

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<v Speaker 2>has been in the news recently because French soccer player

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<v Speaker 2>Kylian Mbappe recently signed with them after being with Nike

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<v Speaker 2>for nearly 20 years.

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<v Speaker 1>I saw that.

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<v Speaker 2>Definitely big news for them. A steeple analyst view on

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<v Speaker 2>holding as quote, the number one market share gainer in

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<v Speaker 2>athletic footwear over the next five years. So high praise

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<v Speaker 2>from them. Very good.

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<v Speaker 1>All right. Quest Diagnostics.

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<v Speaker 2>Quest Diagnostics, ticker DGX. Shares are falling as much as 7.2%

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<v Speaker 2>and they are on track for their worst day in

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<v Speaker 2>over four years. This is coming after the Centers for

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<v Speaker 2>Medicare and Medicaid Services announced released new preliminary Medicare payment

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<v Speaker 2>rates for lab services. Piper Sandler, analyst, wrote that the

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<v Speaker 2>cuts look bigger than expected, and they warned that these

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<v Speaker 2>cuts could continue into 2028 and 2029. LabCorp Holdings, ticker LH,

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<v Speaker 2>is also down as much as 5.5%, having its worst

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<v Speaker 2>day since last October. So, space to watch there for

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<v Speaker 2>Quest Diagnostics.

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<v Speaker 1>The Stock Movers Report from Bloomberg Radio. Check back with

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