1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, 2 00:00:10,280 --> 00:00:13,440 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:18,640 Speaker 1: harnessing the power of Bloomberg data. Stock movers, I don't 4 00:00:18,680 --> 00:00:19,800 Speaker 1: know is it all tech today? 5 00:00:20,160 --> 00:00:24,120 Speaker 2: Stock nos not doing tech. I'll start with this trial 6 00:00:24,239 --> 00:00:29,000 Speaker 2: that we're just learning about of Eli. Lily's blockbuster diabetes drug, 7 00:00:29,080 --> 00:00:32,360 Speaker 2: manjuro fell short of expectations that it could do a 8 00:00:32,400 --> 00:00:35,600 Speaker 2: better job of preventing heart attacks and strokes than its 9 00:00:35,680 --> 00:00:38,599 Speaker 2: older medicine that we know is Trulicity. So they had 10 00:00:38,600 --> 00:00:41,400 Speaker 2: a head to head study of the two treatments. Lily's 11 00:00:41,520 --> 00:00:44,800 Speaker 2: largest and longest of injar to date was designed to 12 00:00:44,880 --> 00:00:50,000 Speaker 2: prove what's called non inferiority that manjuro was an acceptable 13 00:00:50,040 --> 00:00:54,160 Speaker 2: alternative when it comes to reducing risk from cardiovascular events 14 00:00:54,360 --> 00:00:57,480 Speaker 2: compared with Trillicity well at achieve that target. The study 15 00:00:57,640 --> 00:01:02,360 Speaker 2: dashed investors' hopes that majuro w be meaningfully better than 16 00:01:02,680 --> 00:01:05,680 Speaker 2: its old drug. More than thirteen thousand people with type 17 00:01:05,720 --> 00:01:08,840 Speaker 2: two diabetes and a history of heart disease enrolled in 18 00:01:08,880 --> 00:01:12,160 Speaker 2: this trial, during which they were treated with either Manjurro 19 00:01:12,319 --> 00:01:16,080 Speaker 2: or Trillicity, followed for an average of about four years, 20 00:01:16,240 --> 00:01:20,840 Speaker 2: So kind of disappointing for Lily this morning. And then 21 00:01:20,920 --> 00:01:25,120 Speaker 2: I'll move on to another drug maker, AVV ticker symbl ABBV, 22 00:01:25,680 --> 00:01:28,880 Speaker 2: raising its full year profit forecast and you can thank 23 00:01:28,959 --> 00:01:32,560 Speaker 2: booming sales from a pair of newer immunology drugs that 24 00:01:32,680 --> 00:01:36,160 Speaker 2: beat Wall Street estimates. The company which actually based in 25 00:01:36,480 --> 00:01:39,480 Speaker 2: I didn't know this, North Chicago, Illinois. They beat forecasts 26 00:01:39,480 --> 00:01:42,640 Speaker 2: on both profit and revenue in the second quarter quarterly 27 00:01:42,680 --> 00:01:46,720 Speaker 2: sales of fifteen point four to two billion dollars adjusted 28 00:01:46,720 --> 00:01:49,640 Speaker 2: earnings of the period to ninety seven a share. That's 29 00:01:49,640 --> 00:01:54,520 Speaker 2: a twelve percent increase. It also topped expectations. Abby is 30 00:01:54,520 --> 00:01:57,559 Speaker 2: something of a bright spot in the pharmaceutical sector this year. 31 00:01:57,920 --> 00:02:03,000 Speaker 2: They've navigated the expiration the patents on its blockbuster hume Era, 32 00:02:03,520 --> 00:02:09,960 Speaker 2: which treats, among other things, ulterative colitis and Crohn's disease. 33 00:02:10,800 --> 00:02:13,639 Speaker 2: They've also avoided some of the challenges their peers have 34 00:02:13,720 --> 00:02:18,040 Speaker 2: faced with Robert F. Kennedy, including his push to try 35 00:02:18,080 --> 00:02:23,760 Speaker 2: and scrutinize vaccines. Yeah one, Mark, let's go job cuts, 36 00:02:23,800 --> 00:02:27,480 Speaker 2: Warner Brothers Motion Picture Group enacting a round of layoffs. 37 00:02:27,480 --> 00:02:31,560 Speaker 2: They're going to see job cuts across the marketing, production, strategy, operations, 38 00:02:31,600 --> 00:02:35,400 Speaker 2: and theater Ventures division. That's roughly ten percent of the 39 00:02:35,400 --> 00:02:39,680 Speaker 2: studio's workforce going to be impacted. This is according to Variety. 40 00:02:40,200 --> 00:02:43,840 Speaker 2: The move comes as Warner Brothers Discovery, the parent is 41 00:02:43,840 --> 00:02:46,880 Speaker 2: preparing to split itself in two. So the new publicly 42 00:02:46,919 --> 00:02:49,080 Speaker 2: traded company is going to be Warner Brothers, which will 43 00:02:49,120 --> 00:02:52,560 Speaker 2: include the film division as well as the TV studios 44 00:02:52,600 --> 00:02:55,720 Speaker 2: and streaming operations, and then Discovery Global that's going to 45 00:02:55,720 --> 00:02:59,640 Speaker 2: become prized of the TV networks, Discovery Plus and some 46 00:02:59,720 --> 00:03:00,639 Speaker 2: of the acids. 47 00:03:02,480 --> 00:03:06,720 Speaker 1: The Stockmovers Report from Bloomberg Radio. 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