Speaker 1: Bloomberg Audio Studios, Podcasts, radio News, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: Now, let's have a look at some stocks on the
Speaker 2: move today here in you. I'm Caroline Hepget and I'm
Speaker 2: joined by Bloomberg reporter chlomber Lay. Good morning, Chloe. Let's
Speaker 2: start with another nor Disk stock down facing a negative impulse.
Speaker 3: Y Well, it was downgraded to an underweight rating by
Speaker 3: Morgan Stanley this morning, and so that was driving the
Speaker 3: stock down. Excuse me, but Morgan standly noted a re
Speaker 3: weak prescription growth for GLP one's going forward, then also
Speaker 3: growing competition in that space. So and Liz said that
Speaker 3: they did not see kind of any major positive catalysts
Speaker 3: going forward in that it saw they saw low probability
Speaker 3: of success for the Evoke trial, which is the clinic
Speaker 3: called trial to see if GLP ones can be effective
Speaker 3: for Alzheimer's. Nova has been obviously under quite a lot
Speaker 3: of pressure in recent months. It's dealt with management changes,
Speaker 3: changes that kind of rattled the market. Most recently, it
Speaker 3: was the European Farmer company that was the worst hit
Speaker 3: let then use that Trump was setting the stage for
Speaker 3: the for those tariffs on branded drugs, you know, because
Speaker 3: it was the tariffs, except if the company is building
Speaker 3: a manufacturing base in the US, and because the key
Speaker 3: ingredient Inigo vy and a zempiic is made in Denmark,
Speaker 3: it was under a lot of pressure last week on
Speaker 3: the back of that. So this is just really another
Speaker 3: setback for the company. It's worth noting we're only at
Speaker 3: two sell ratings for Novo, so there's still some confidence
Speaker 3: in the stock and it was recently raised to buy
Speaker 3: at Berenberg, but so some analysts are still keen. But
Speaker 3: this downgrade by Morgan Stanley will be noted. And what
Speaker 3: was this morning? Yeah, okay, so that's.
Speaker 2: Very interesting on nervan nor disc Have you seen around
Speaker 2: London as I have the move GLP one affecting fashion trends,
Speaker 2: affecting the sorts of foods that being offered, not just
Speaker 2: in restaurants but even in fast food chains. Yeah, absolutely
Speaker 2: extraordinary is that sort of change, how much it does
Speaker 2: seem to be affecting societies. Let's stick with the farmer theme.
Speaker 2: GSK announcing a change at the top of the company.
Speaker 3: Yeah, indeed, so CEO Emma Warmsley is stepping down after
Speaker 3: almost nine years at the company. She'll be replaced in
Speaker 3: January on January first by Luke Miles, who is currently
Speaker 3: the chief commercial officer at JESK. So, under Wormsley's watch,
Speaker 3: the shares have fallen about eleven percent. JESK did pretty
Speaker 3: well overall, and there was some guidance upgrades throughout the years,
Speaker 3: et cetera. But they have fallen a little bit and
Speaker 3: she has been facing pressure from investors about the company's
Speaker 3: drug pipeline. So there's real concern from investors over whether
Speaker 3: the company had the right strategy to meet the forty
Speaker 3: billion in ponds and sales target that it had set out,
Speaker 3: which is forty billion in sales by twenty thirty one.
Speaker 3: So the new CEO, Meals, has been working on kind
Speaker 3: of growing the company's drug portfolio, especially in oncology. And
Speaker 3: so by the way that the shares have reacted, which
Speaker 3: was quite positively, it seems that the market is quite
Speaker 3: keen on Meals and confident that he might be able
Speaker 3: to kind of rebuild that pipeline. Yeah.
Speaker 2: Absolutely, she's stepping down in January's I've been there something
Speaker 2: like eight years since about twenty seventeen. So yes, Emma Walmsley,
Speaker 2: surprise resignation, surprise departure at GSK Lufthansa. Lastly planning job cuts.
Speaker 3: Yeah, and quite a lot actually, So plans to cut
Speaker 3: four thousand administrative jobs by twenty thirty, which is kind
Speaker 3: of a reduction in workforce on a scale that we've
Speaker 3: not seen since the pandemic for that airline sector. The
Speaker 3: movie is expected to generate about three hundred million euros
Speaker 3: in annual savings, and for Luftanzo, it's really all about
Speaker 3: trying to rebuild that profitability. It's been dealing with quite
Speaker 3: a lot of challenges lately. There was the fallout from
Speaker 3: pilot strikes, which was really disruptive to operations. There's slow
Speaker 3: aircraft deliveries which have pushed back the transition to more
Speaker 3: kind of fuel efficient models. And then it's also been
Speaker 3: dealing with an underperforming manline airline that's really weighed on results.
Speaker 3: Last year, the group was forced to lower the guidance
Speaker 3: twice and it also fell short of the medium term
Speaker 3: margin targets that it laid out in twenty twenty one.
Speaker 3: So the market reacted quite positively to really drastic measures
Speaker 3: to kind of get that margin back on track for Lachanza.
Speaker 2: Yeah, four thousand jobs to go by twenty thirty.
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