WEBVTT - Novo Up, Orsted Gains, M&S Dips

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Well, let's take a look at some stocks on the

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<v Speaker 3>move today in Europe. I'm Stephen Carroll with Lizzie Burden,

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<v Speaker 3>and we're joined by Bloomberg's Breaking news editor Louise Moon

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<v Speaker 3>for more. Louise starting first of all with Novo. Nordis

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<v Speaker 3>cutting its fourth quarter forecast after lagging sales and those

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<v Speaker 3>blockbuster weight loss drugs tell us more.

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<v Speaker 1>Indeed, yeh shares a kind of fluctuating morning nights, sir,

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<v Speaker 1>indeed ya yoing this morning they turned their forecast, as

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<v Speaker 1>you say, that's for the fourth time this year, and

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<v Speaker 1>that came alongside quite disappointing third quarter earnings, so particular

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<v Speaker 1>look at profit that felcial investments. Sales were also lower.

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<v Speaker 1>The growth was the slower since the first quarter of

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<v Speaker 1>twenty twenty one. And this is all on the back

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<v Speaker 1>of what's been an ongoing lagging sales in their obese drugs.

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<v Speaker 1>They're blockbuster drugs are also grappling with increased competition, slower

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<v Speaker 1>market expansion and the new CEO is really trying to

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<v Speaker 1>be aggressive to combat all of that. So you know,

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<v Speaker 1>he's laying off a chunk of staff and he's he

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<v Speaker 1>was trying he is trying still to win Obaesti startup.

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<v Speaker 1>That's kind of competing with Pfizer to do that. So

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<v Speaker 1>a lot of challenges that Novo is facing. Their stock

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<v Speaker 1>has already lost about half of its value so far

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<v Speaker 1>this year, and a lot of that is, as I say,

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<v Speaker 1>on those competition concerns, and lists are noting though that

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<v Speaker 1>some of the commentary abround pricing of drugs in the

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<v Speaker 1>US was better than expected, and that's kind of explaining

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<v Speaker 1>that fluctuation in share prices. Despite you know, that trimming

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<v Speaker 1>of forecasts and those disappointing earnings, there is that bit

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<v Speaker 1>of light of positivity. So shares seesawing yo yoing on

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<v Speaker 1>the back of that.

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<v Speaker 2>So from those moves on Nova Noordisk returned to austed

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<v Speaker 2>in Copenhagen shares two and a half percent Louise.

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<v Speaker 1>Indeed, Yeah, they've confirmed their full year profit guidance, essentially

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<v Speaker 1>trying to reassure investors. So they'd slash that in your

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<v Speaker 1>and said in September, and they also had quite a

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<v Speaker 1>week third quarter. Today, so for example, they took a

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<v Speaker 1>chunky net charge link to US tariffs that was about

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<v Speaker 1>two hundred and seventy seven million US dollars. And they've also,

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<v Speaker 1>you know, there's been reports that we've spoken about before

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<v Speaker 1>of holding a project off a near Rhode Island, and

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<v Speaker 1>they're trying to deliver quite a turnaround essentially, So they're

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<v Speaker 1>saying that their portfolio of projects is progressing on schedule

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<v Speaker 1>as part of that kind of reassurance today and the

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<v Speaker 1>CEO is really trying to signal a return to normality

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<v Speaker 1>despite a lot of their ambitions in the US hitting

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<v Speaker 1>some hurdles, hitting some roadblocks. There was an interesting quote

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<v Speaker 1>from one of our analysts saying that although today's results

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<v Speaker 1>were weak, the numbers will kind of be of less

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<v Speaker 1>interest to investors, and the broader context and regulatory developments

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<v Speaker 1>in the US is a bit more of a driver

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<v Speaker 1>of their share price at the moment. So trying to

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<v Speaker 1>reassure had a week third quarter, but trying to signal

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<v Speaker 1>that return to normality and that focus on their portfolio.

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<v Speaker 3>Okay, so that's Arista at their show is slightly higher

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<v Speaker 3>this morning. Let's turn then too Marks and Spencers in

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<v Speaker 3>the UK reporting adjusted pre tax profits for the first

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<v Speaker 3>half of the year. That beat estimates.

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<v Speaker 1>What's going on indeed, so it's quite an interesting picture

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<v Speaker 1>when you look at it. So they beat estimates, but

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<v Speaker 1>these profits did still post a huge drop in the

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<v Speaker 1>first quarter. They had a really tough first quarter, all

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<v Speaker 1>to do with a cyber attack in April which affected

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<v Speaker 1>their online sales for about four months and it's really

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<v Speaker 1>hit them. So a tough first quarter, but as you say,

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<v Speaker 1>did slightly beat estimates. You know, people expected it to

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<v Speaker 1>be worse and then now it was a really positive

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<v Speaker 1>upbeat commentary from their CEO this morning, saying, you know,

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<v Speaker 1>there's a lot more to be done, but food's outperforming, fashion,

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<v Speaker 1>home and beauty is slightly lagging, but getting there. It's

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<v Speaker 1>progressing after this cyber attack, and looking forward, they expect

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<v Speaker 1>second half profits to rebounce it be at least in

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<v Speaker 1>line with last year. So as I say, yeah, quite

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<v Speaker 1>upbeat from him. He described the first half as an

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<v Speaker 1>extra ordinary moment in time. The cyber attack came at

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<v Speaker 1>quite a bad time. He was starting to deliver on

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<v Speaker 1>his turnaround. But yeah, signaling the going forward, they've they've

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<v Speaker 1>kind of got over the worst of it, and they'll

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<v Speaker 1>be uh. They'll be delivering further on their turnaround and

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<v Speaker 1>seem to be progressing ahead of.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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