1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,520 --> 00:00:18,159 Speaker 3: Well, let's take a look at some stocks on the 5 00:00:18,160 --> 00:00:20,640 Speaker 3: move today in Europe. I'm Stephen Carroll with Lizzie Burden, 6 00:00:20,680 --> 00:00:23,239 Speaker 3: and we're joined by Bloomberg's Breaking news editor Louise Moon 7 00:00:23,360 --> 00:00:26,360 Speaker 3: for more. Louise starting first of all with Novo. Nordis 8 00:00:26,440 --> 00:00:29,280 Speaker 3: cutting its fourth quarter forecast after lagging sales and those 9 00:00:29,280 --> 00:00:31,360 Speaker 3: blockbuster weight loss drugs tell us more. 10 00:00:31,960 --> 00:00:35,360 Speaker 1: Indeed, yeh shares a kind of fluctuating morning nights, sir, 11 00:00:35,520 --> 00:00:38,000 Speaker 1: indeed ya yoing this morning they turned their forecast, as 12 00:00:38,040 --> 00:00:40,400 Speaker 1: you say, that's for the fourth time this year, and 13 00:00:40,440 --> 00:00:44,479 Speaker 1: that came alongside quite disappointing third quarter earnings, so particular 14 00:00:44,440 --> 00:00:47,320 Speaker 1: look at profit that felcial investments. Sales were also lower. 15 00:00:47,640 --> 00:00:50,040 Speaker 1: The growth was the slower since the first quarter of 16 00:00:50,400 --> 00:00:53,520 Speaker 1: twenty twenty one. And this is all on the back 17 00:00:53,560 --> 00:00:57,240 Speaker 1: of what's been an ongoing lagging sales in their obese drugs. 18 00:00:57,240 --> 00:01:00,840 Speaker 1: They're blockbuster drugs are also grappling with increased competition, slower 19 00:01:00,880 --> 00:01:03,600 Speaker 1: market expansion and the new CEO is really trying to 20 00:01:03,600 --> 00:01:05,720 Speaker 1: be aggressive to combat all of that. So you know, 21 00:01:05,760 --> 00:01:09,160 Speaker 1: he's laying off a chunk of staff and he's he 22 00:01:09,240 --> 00:01:13,480 Speaker 1: was trying he is trying still to win Obaesti startup. 23 00:01:13,520 --> 00:01:16,679 Speaker 1: That's kind of competing with Pfizer to do that. So 24 00:01:17,560 --> 00:01:20,240 Speaker 1: a lot of challenges that Novo is facing. Their stock 25 00:01:20,480 --> 00:01:23,240 Speaker 1: has already lost about half of its value so far 26 00:01:23,280 --> 00:01:24,840 Speaker 1: this year, and a lot of that is, as I say, 27 00:01:24,880 --> 00:01:28,280 Speaker 1: on those competition concerns, and lists are noting though that 28 00:01:28,400 --> 00:01:31,000 Speaker 1: some of the commentary abround pricing of drugs in the 29 00:01:31,080 --> 00:01:33,440 Speaker 1: US was better than expected, and that's kind of explaining 30 00:01:33,760 --> 00:01:37,839 Speaker 1: that fluctuation in share prices. Despite you know, that trimming 31 00:01:37,880 --> 00:01:41,120 Speaker 1: of forecasts and those disappointing earnings, there is that bit 32 00:01:41,120 --> 00:01:45,319 Speaker 1: of light of positivity. So shares seesawing yo yoing on 33 00:01:45,360 --> 00:01:45,880 Speaker 1: the back of that. 34 00:01:46,360 --> 00:01:51,080 Speaker 2: So from those moves on Nova Noordisk returned to austed 35 00:01:51,240 --> 00:01:53,480 Speaker 2: in Copenhagen shares two and a half percent Louise. 36 00:01:53,600 --> 00:01:57,440 Speaker 1: Indeed, Yeah, they've confirmed their full year profit guidance, essentially 37 00:01:57,440 --> 00:01:59,920 Speaker 1: trying to reassure investors. So they'd slash that in your 38 00:02:00,200 --> 00:02:02,600 Speaker 1: and said in September, and they also had quite a 39 00:02:02,600 --> 00:02:06,040 Speaker 1: week third quarter. Today, so for example, they took a 40 00:02:06,120 --> 00:02:08,840 Speaker 1: chunky net charge link to US tariffs that was about 41 00:02:09,040 --> 00:02:12,840 Speaker 1: two hundred and seventy seven million US dollars. And they've also, 42 00:02:13,000 --> 00:02:15,640 Speaker 1: you know, there's been reports that we've spoken about before 43 00:02:15,680 --> 00:02:19,320 Speaker 1: of holding a project off a near Rhode Island, and 44 00:02:19,360 --> 00:02:23,119 Speaker 1: they're trying to deliver quite a turnaround essentially, So they're 45 00:02:23,160 --> 00:02:26,399 Speaker 1: saying that their portfolio of projects is progressing on schedule 46 00:02:26,919 --> 00:02:29,040 Speaker 1: as part of that kind of reassurance today and the 47 00:02:29,080 --> 00:02:32,040 Speaker 1: CEO is really trying to signal a return to normality 48 00:02:32,080 --> 00:02:35,880 Speaker 1: despite a lot of their ambitions in the US hitting 49 00:02:36,120 --> 00:02:39,000 Speaker 1: some hurdles, hitting some roadblocks. There was an interesting quote 50 00:02:39,000 --> 00:02:41,640 Speaker 1: from one of our analysts saying that although today's results 51 00:02:41,639 --> 00:02:44,320 Speaker 1: were weak, the numbers will kind of be of less 52 00:02:44,320 --> 00:02:49,000 Speaker 1: interest to investors, and the broader context and regulatory developments 53 00:02:49,000 --> 00:02:51,120 Speaker 1: in the US is a bit more of a driver 54 00:02:51,240 --> 00:02:53,360 Speaker 1: of their share price at the moment. So trying to 55 00:02:53,400 --> 00:02:57,040 Speaker 1: reassure had a week third quarter, but trying to signal 56 00:02:57,080 --> 00:02:59,880 Speaker 1: that return to normality and that focus on their portfolio. 57 00:03:00,240 --> 00:03:02,280 Speaker 3: Okay, so that's Arista at their show is slightly higher 58 00:03:02,320 --> 00:03:04,239 Speaker 3: this morning. Let's turn then too Marks and Spencers in 59 00:03:04,320 --> 00:03:07,360 Speaker 3: the UK reporting adjusted pre tax profits for the first 60 00:03:07,360 --> 00:03:09,120 Speaker 3: half of the year. That beat estimates. 61 00:03:09,120 --> 00:03:12,400 Speaker 1: What's going on indeed, so it's quite an interesting picture 62 00:03:12,400 --> 00:03:14,160 Speaker 1: when you look at it. So they beat estimates, but 63 00:03:14,440 --> 00:03:18,520 Speaker 1: these profits did still post a huge drop in the 64 00:03:18,560 --> 00:03:22,320 Speaker 1: first quarter. They had a really tough first quarter, all 65 00:03:22,360 --> 00:03:25,720 Speaker 1: to do with a cyber attack in April which affected 66 00:03:25,720 --> 00:03:28,280 Speaker 1: their online sales for about four months and it's really 67 00:03:28,440 --> 00:03:31,200 Speaker 1: hit them. So a tough first quarter, but as you say, 68 00:03:31,360 --> 00:03:34,640 Speaker 1: did slightly beat estimates. You know, people expected it to 69 00:03:34,720 --> 00:03:38,120 Speaker 1: be worse and then now it was a really positive 70 00:03:38,240 --> 00:03:40,880 Speaker 1: upbeat commentary from their CEO this morning, saying, you know, 71 00:03:41,120 --> 00:03:44,280 Speaker 1: there's a lot more to be done, but food's outperforming, fashion, 72 00:03:44,280 --> 00:03:46,760 Speaker 1: home and beauty is slightly lagging, but getting there. It's 73 00:03:46,760 --> 00:03:49,920 Speaker 1: progressing after this cyber attack, and looking forward, they expect 74 00:03:50,280 --> 00:03:52,880 Speaker 1: second half profits to rebounce it be at least in 75 00:03:52,920 --> 00:03:57,040 Speaker 1: line with last year. So as I say, yeah, quite 76 00:03:57,120 --> 00:03:59,720 Speaker 1: upbeat from him. He described the first half as an 77 00:03:59,760 --> 00:04:01,960 Speaker 1: extra ordinary moment in time. The cyber attack came at 78 00:04:02,040 --> 00:04:04,440 Speaker 1: quite a bad time. He was starting to deliver on 79 00:04:04,520 --> 00:04:09,160 Speaker 1: his turnaround. But yeah, signaling the going forward, they've they've 80 00:04:09,240 --> 00:04:11,160 Speaker 1: kind of got over the worst of it, and they'll 81 00:04:11,200 --> 00:04:14,520 Speaker 1: be uh. They'll be delivering further on their turnaround and 82 00:04:14,840 --> 00:04:16,280 Speaker 1: seem to be progressing ahead of. 83 00:04:17,320 --> 00:04:21,360 Speaker 2: The Stock Movers report from Bloomberg Radio. Check back with 84 00:04:21,440 --> 00:04:24,000 Speaker 2: us throughout the day for the latest roundup of companies 85 00:04:24,080 --> 00:04:27,200 Speaker 2: making news on Wall Street and for the latest market 86 00:04:27,200 --> 00:04:31,680 Speaker 2: moving headlines. 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