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Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.

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Speaker 2: Stock Movers Report, your roundup of companies making moves in

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Speaker 2: the stock market, harnessing the power of Bloomberg Data.

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Speaker 3: Let's take a look now some other socks on the

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Speaker 3: move today here in Europe. I'm Caroline Hepget alongside Lizzie Burden,

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Speaker 3: and we're joined by Bloomberg reporter Louise Moon Luis. Should

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Speaker 3: we start with Novo Nordisk big staff cuts. How have

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Speaker 3: the markets been reacting?

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Speaker 4: Indeed, yeah, well this comes if we look back at

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Speaker 4: the wider context. Novo Obviously we're booming in the market,

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Speaker 4: and then they've been facing increasing competition. Their stock is

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Speaker 4: down over forty percent year to date, and then this

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Speaker 4: host of bad news this morning, as you mentioned, you

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Speaker 4: would kind of expect that to pull the stock down further.

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Speaker 1: It didn't initially drop, but shares are now rising.

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Speaker 4: But the new on the news they're cutting nine thousand jobs,

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Speaker 4: that's about eleven percent of their staff and mostly in Denmark,

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Speaker 4: in their home market, and that's with the aim of

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Speaker 4: saving about one point three billion US dollars by twenty

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Speaker 4: twenty six. They've also cut their profit forecast. That's for

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Speaker 4: the third time this year, so they're seeing profits of

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Speaker 4: as much as ten percent growth rather than twenty seven

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Speaker 4: percent growth that they had seen previously. As I say,

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Speaker 4: stocks then initially dropped, they are now rising. Analysts are

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Speaker 4: essentially saying that it shows the companies taking action to

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Speaker 4: improve things, so it's being proactive to turn things around.

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Speaker 4: One noted it was the first action they've seen from

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Speaker 4: the company to do something about this increased competition in

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Speaker 4: the space. And the next thing to look ahead for

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Speaker 4: really is they've got an invested Day on September seventeenth,

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Speaker 4: so they'll lay out a roadmap for what's to come.

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Speaker 4: So it'll be the next key thing that analysts will

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Speaker 4: be focusing on.

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Speaker 3: Louise, what's going wrong with Primarni, maybe food stun more

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Speaker 3: than ten percent.

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Speaker 4: I know A raised their year to stay gains this morning,

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Speaker 4: so they had their second half update. Weakness essentially across

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Speaker 4: the board, so they're blaming consumer caution and geopolitical uncertainty inflation.

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Speaker 4: So as you say, Primark sales they dropped. That's obviously

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Speaker 4: what abf are mostly known for. But a key thing

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Speaker 4: people are also really focusing on as their sugar unit.

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Speaker 4: That's really been in focus and it's continuing to weigh

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Speaker 4: on the wider companies. They're saying that they're seeing some

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Speaker 4: improvement and profitability for sugar, but they are said expecting

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Speaker 4: a forty million pound loss in the sugar unit. They

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Speaker 4: recently closed the plant in the UK, They've had to

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Speaker 4: restructure some Spanish operations, and they said this morning from

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Speaker 4: those two things, they're expecting a two hundred million pound

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Speaker 4: hit from that. So things, they still got quite a

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Speaker 4: lot of fires to fight, and that's obviously being reflected

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Speaker 4: in the drop in their stock this morning.

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Speaker 3: It's doing battle with the que in a prime mark.

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Speaker 1: That is the major issue as far as I'm concerned.

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Speaker 3: I mean, and it's also one of those places where

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Speaker 3: there are so many small items. But like i qre

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Speaker 3: prime up many others, I'm sure there's a way that

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Speaker 3: they get us to spend lots of that aside, we

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Speaker 3: love those stores, don't we.

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Speaker 1: Let's think about in detect You are a more of

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Speaker 1: a Bizara shopper, aren't you, Carolinzed?

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Speaker 3: Yeah, yeah, I've been known to walk into Zara. What

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Speaker 3: is install for intertext at the minute.

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Speaker 4: So shares are climbing this morning for Indo text Spanish

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Speaker 4: retailer Worlds, BIG's retailer, as you say, owned Zara. They've

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Speaker 4: had essentially a positive start to the third quarter and

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Speaker 4: and Lesser saying this is indicating resilience.

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Speaker 1: There's been a lot of worries for the whole.

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Speaker 4: Wider sector about consumer sentiment, trade tensions weighing on sales.

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Speaker 1: But positive start to the third quarter.

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Speaker 4: So revenue is up nine percent in the five weeks

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Speaker 4: to September eighth, so.

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Speaker 1: It's a bit of a relief. They had a bit

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Speaker 1: of a.

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Speaker 4: Disappointing first half, but this is indicating potentially good things

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Speaker 4: to come, so it's boosting their stock.

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Speaker 1: This morning.

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Speaker 2: This stock mover's report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

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Speaker 2: the bloom Berg Business app.

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Speaker 3: Mm hmm