1 00:00:02,520 --> 00:00:09,960 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News, The Stock Movers Report, 2 00:00:10,240 --> 00:00:13,440 Speaker 1: your roundup of companies making moves in the stock market, 3 00:00:13,680 --> 00:00:15,880 Speaker 1: harnessing the power of Bloomberg Data. 4 00:00:16,560 --> 00:00:18,239 Speaker 2: Now, let's have a look at some stocks on the 5 00:00:18,280 --> 00:00:20,320 Speaker 2: move today here in you. I'm Caroline Hepget and I'm 6 00:00:20,400 --> 00:00:23,800 Speaker 2: joined by Bloomberg reporter chlomber Lay. Good morning, Chloe. Let's 7 00:00:23,840 --> 00:00:29,400 Speaker 2: start with another nor Disk stock down facing a negative impulse. 8 00:00:29,600 --> 00:00:32,720 Speaker 3: Y Well, it was downgraded to an underweight rating by 9 00:00:32,800 --> 00:00:36,080 Speaker 3: Morgan Stanley this morning, and so that was driving the 10 00:00:36,080 --> 00:00:39,120 Speaker 3: stock down. Excuse me, but Morgan standly noted a re 11 00:00:39,280 --> 00:00:42,560 Speaker 3: weak prescription growth for GLP one's going forward, then also 12 00:00:42,640 --> 00:00:45,960 Speaker 3: growing competition in that space. So and Liz said that 13 00:00:46,000 --> 00:00:49,160 Speaker 3: they did not see kind of any major positive catalysts 14 00:00:49,600 --> 00:00:53,000 Speaker 3: going forward in that it saw they saw low probability 15 00:00:53,240 --> 00:00:55,480 Speaker 3: of success for the Evoke trial, which is the clinic 16 00:00:55,480 --> 00:00:58,200 Speaker 3: called trial to see if GLP ones can be effective 17 00:00:58,400 --> 00:01:01,600 Speaker 3: for Alzheimer's. Nova has been obviously under quite a lot 18 00:01:01,640 --> 00:01:04,880 Speaker 3: of pressure in recent months. It's dealt with management changes, 19 00:01:05,160 --> 00:01:08,280 Speaker 3: changes that kind of rattled the market. Most recently, it 20 00:01:08,360 --> 00:01:11,000 Speaker 3: was the European Farmer company that was the worst hit 21 00:01:11,600 --> 00:01:13,560 Speaker 3: let then use that Trump was setting the stage for 22 00:01:13,600 --> 00:01:16,520 Speaker 3: the for those tariffs on branded drugs, you know, because 23 00:01:16,560 --> 00:01:19,920 Speaker 3: it was the tariffs, except if the company is building 24 00:01:19,920 --> 00:01:22,840 Speaker 3: a manufacturing base in the US, and because the key 25 00:01:22,920 --> 00:01:25,920 Speaker 3: ingredient Inigo vy and a zempiic is made in Denmark, 26 00:01:26,160 --> 00:01:28,040 Speaker 3: it was under a lot of pressure last week on 27 00:01:28,080 --> 00:01:30,360 Speaker 3: the back of that. So this is just really another 28 00:01:30,720 --> 00:01:33,440 Speaker 3: setback for the company. It's worth noting we're only at 29 00:01:33,480 --> 00:01:36,240 Speaker 3: two sell ratings for Novo, so there's still some confidence 30 00:01:36,520 --> 00:01:38,760 Speaker 3: in the stock and it was recently raised to buy 31 00:01:39,040 --> 00:01:42,000 Speaker 3: at Berenberg, but so some analysts are still keen. But 32 00:01:42,120 --> 00:01:44,600 Speaker 3: this downgrade by Morgan Stanley will be noted. And what 33 00:01:44,720 --> 00:01:46,559 Speaker 3: was this morning? Yeah, okay, so that's. 34 00:01:46,480 --> 00:01:49,160 Speaker 2: Very interesting on nervan nor disc Have you seen around 35 00:01:49,200 --> 00:01:53,600 Speaker 2: London as I have the move GLP one affecting fashion trends, 36 00:01:53,640 --> 00:01:56,200 Speaker 2: affecting the sorts of foods that being offered, not just 37 00:01:56,240 --> 00:01:59,080 Speaker 2: in restaurants but even in fast food chains. Yeah, absolutely 38 00:01:59,080 --> 00:02:02,600 Speaker 2: extraordinary is that sort of change, how much it does 39 00:02:02,640 --> 00:02:06,120 Speaker 2: seem to be affecting societies. Let's stick with the farmer theme. 40 00:02:06,320 --> 00:02:10,079 Speaker 2: GSK announcing a change at the top of the company. 41 00:02:10,200 --> 00:02:13,200 Speaker 3: Yeah, indeed, so CEO Emma Warmsley is stepping down after 42 00:02:13,240 --> 00:02:16,240 Speaker 3: almost nine years at the company. She'll be replaced in 43 00:02:16,320 --> 00:02:19,080 Speaker 3: January on January first by Luke Miles, who is currently 44 00:02:19,120 --> 00:02:24,080 Speaker 3: the chief commercial officer at JESK. So, under Wormsley's watch, 45 00:02:24,200 --> 00:02:27,480 Speaker 3: the shares have fallen about eleven percent. JESK did pretty 46 00:02:27,480 --> 00:02:30,880 Speaker 3: well overall, and there was some guidance upgrades throughout the years, 47 00:02:30,880 --> 00:02:33,120 Speaker 3: et cetera. But they have fallen a little bit and 48 00:02:33,160 --> 00:02:36,600 Speaker 3: she has been facing pressure from investors about the company's 49 00:02:36,720 --> 00:02:40,080 Speaker 3: drug pipeline. So there's real concern from investors over whether 50 00:02:40,120 --> 00:02:43,680 Speaker 3: the company had the right strategy to meet the forty 51 00:02:43,680 --> 00:02:47,639 Speaker 3: billion in ponds and sales target that it had set out, 52 00:02:48,080 --> 00:02:50,600 Speaker 3: which is forty billion in sales by twenty thirty one. 53 00:02:51,240 --> 00:02:54,359 Speaker 3: So the new CEO, Meals, has been working on kind 54 00:02:54,400 --> 00:02:58,240 Speaker 3: of growing the company's drug portfolio, especially in oncology. And 55 00:02:58,280 --> 00:02:59,840 Speaker 3: so by the way that the shares have reacted, which 56 00:02:59,919 --> 00:03:02,440 Speaker 3: was quite positively, it seems that the market is quite 57 00:03:02,480 --> 00:03:04,840 Speaker 3: keen on Meals and confident that he might be able 58 00:03:04,880 --> 00:03:06,760 Speaker 3: to kind of rebuild that pipeline. Yeah. 59 00:03:06,800 --> 00:03:10,359 Speaker 2: Absolutely, she's stepping down in January's I've been there something 60 00:03:10,480 --> 00:03:15,760 Speaker 2: like eight years since about twenty seventeen. So yes, Emma Walmsley, 61 00:03:16,000 --> 00:03:24,320 Speaker 2: surprise resignation, surprise departure at GSK Lufthansa. Lastly planning job cuts. 62 00:03:24,040 --> 00:03:26,760 Speaker 3: Yeah, and quite a lot actually, So plans to cut 63 00:03:26,880 --> 00:03:30,359 Speaker 3: four thousand administrative jobs by twenty thirty, which is kind 64 00:03:30,360 --> 00:03:33,239 Speaker 3: of a reduction in workforce on a scale that we've 65 00:03:33,280 --> 00:03:37,000 Speaker 3: not seen since the pandemic for that airline sector. The 66 00:03:37,040 --> 00:03:40,240 Speaker 3: movie is expected to generate about three hundred million euros 67 00:03:40,280 --> 00:03:43,760 Speaker 3: in annual savings, and for Luftanzo, it's really all about 68 00:03:43,840 --> 00:03:46,560 Speaker 3: trying to rebuild that profitability. It's been dealing with quite 69 00:03:46,560 --> 00:03:49,400 Speaker 3: a lot of challenges lately. There was the fallout from 70 00:03:49,440 --> 00:03:53,720 Speaker 3: pilot strikes, which was really disruptive to operations. There's slow 71 00:03:53,800 --> 00:03:56,720 Speaker 3: aircraft deliveries which have pushed back the transition to more 72 00:03:56,800 --> 00:04:00,240 Speaker 3: kind of fuel efficient models. And then it's also been 73 00:04:00,240 --> 00:04:05,000 Speaker 3: dealing with an underperforming manline airline that's really weighed on results. 74 00:04:05,280 --> 00:04:07,840 Speaker 3: Last year, the group was forced to lower the guidance 75 00:04:08,240 --> 00:04:11,040 Speaker 3: twice and it also fell short of the medium term 76 00:04:11,080 --> 00:04:14,080 Speaker 3: margin targets that it laid out in twenty twenty one. 77 00:04:14,160 --> 00:04:18,200 Speaker 3: So the market reacted quite positively to really drastic measures 78 00:04:18,240 --> 00:04:20,719 Speaker 3: to kind of get that margin back on track for Lachanza. 79 00:04:21,000 --> 00:04:23,719 Speaker 2: Yeah, four thousand jobs to go by twenty thirty. 80 00:04:24,839 --> 00:04:28,880 Speaker 1: The Stock Movers Report from Bloomberg Radio. 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