Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Well, let's take a look at some stocks on the
Speaker 3: move today in Europe. I'm Stephen Carroll with Lizzie Burden,
Speaker 3: and we're joined by Bloomberg's Breaking news editor Louise Moon
Speaker 3: for more. Louise starting first of all with Novo. Nordis
Speaker 3: cutting its fourth quarter forecast after lagging sales and those
Speaker 3: blockbuster weight loss drugs tell us more.
Speaker 1: Indeed, yeh shares a kind of fluctuating morning nights, sir,
Speaker 1: indeed ya yoing this morning they turned their forecast, as
Speaker 1: you say, that's for the fourth time this year, and
Speaker 1: that came alongside quite disappointing third quarter earnings, so particular
Speaker 1: look at profit that felcial investments. Sales were also lower.
Speaker 1: The growth was the slower since the first quarter of
Speaker 1: twenty twenty one. And this is all on the back
Speaker 1: of what's been an ongoing lagging sales in their obese drugs.
Speaker 1: They're blockbuster drugs are also grappling with increased competition, slower
Speaker 1: market expansion and the new CEO is really trying to
Speaker 1: be aggressive to combat all of that. So you know,
Speaker 1: he's laying off a chunk of staff and he's he
Speaker 1: was trying he is trying still to win Obaesti startup.
Speaker 1: That's kind of competing with Pfizer to do that. So
Speaker 1: a lot of challenges that Novo is facing. Their stock
Speaker 1: has already lost about half of its value so far
Speaker 1: this year, and a lot of that is, as I say,
Speaker 1: on those competition concerns, and lists are noting though that
Speaker 1: some of the commentary abround pricing of drugs in the
Speaker 1: US was better than expected, and that's kind of explaining
Speaker 1: that fluctuation in share prices. Despite you know, that trimming
Speaker 1: of forecasts and those disappointing earnings, there is that bit
Speaker 1: of light of positivity. So shares seesawing yo yoing on
Speaker 1: the back of that.
Speaker 2: So from those moves on Nova Noordisk returned to austed
Speaker 2: in Copenhagen shares two and a half percent Louise.
Speaker 1: Indeed, Yeah, they've confirmed their full year profit guidance, essentially
Speaker 1: trying to reassure investors. So they'd slash that in your
Speaker 1: and said in September, and they also had quite a
Speaker 1: week third quarter. Today, so for example, they took a
Speaker 1: chunky net charge link to US tariffs that was about
Speaker 1: two hundred and seventy seven million US dollars. And they've also,
Speaker 1: you know, there's been reports that we've spoken about before
Speaker 1: of holding a project off a near Rhode Island, and
Speaker 1: they're trying to deliver quite a turnaround essentially, So they're
Speaker 1: saying that their portfolio of projects is progressing on schedule
Speaker 1: as part of that kind of reassurance today and the
Speaker 1: CEO is really trying to signal a return to normality
Speaker 1: despite a lot of their ambitions in the US hitting
Speaker 1: some hurdles, hitting some roadblocks. There was an interesting quote
Speaker 1: from one of our analysts saying that although today's results
Speaker 1: were weak, the numbers will kind of be of less
Speaker 1: interest to investors, and the broader context and regulatory developments
Speaker 1: in the US is a bit more of a driver
Speaker 1: of their share price at the moment. So trying to
Speaker 1: reassure had a week third quarter, but trying to signal
Speaker 1: that return to normality and that focus on their portfolio.
Speaker 3: Okay, so that's Arista at their show is slightly higher
Speaker 3: this morning. Let's turn then too Marks and Spencers in
Speaker 3: the UK reporting adjusted pre tax profits for the first
Speaker 3: half of the year. That beat estimates.
Speaker 1: What's going on indeed, so it's quite an interesting picture
Speaker 1: when you look at it. So they beat estimates, but
Speaker 1: these profits did still post a huge drop in the
Speaker 1: first quarter. They had a really tough first quarter, all
Speaker 1: to do with a cyber attack in April which affected
Speaker 1: their online sales for about four months and it's really
Speaker 1: hit them. So a tough first quarter, but as you say,
Speaker 1: did slightly beat estimates. You know, people expected it to
Speaker 1: be worse and then now it was a really positive
Speaker 1: upbeat commentary from their CEO this morning, saying, you know,
Speaker 1: there's a lot more to be done, but food's outperforming, fashion,
Speaker 1: home and beauty is slightly lagging, but getting there. It's
Speaker 1: progressing after this cyber attack, and looking forward, they expect
Speaker 1: second half profits to rebounce it be at least in
Speaker 1: line with last year. So as I say, yeah, quite
Speaker 1: upbeat from him. He described the first half as an
Speaker 1: extra ordinary moment in time. The cyber attack came at
Speaker 1: quite a bad time. He was starting to deliver on
Speaker 1: his turnaround. But yeah, signaling the going forward, they've they've
Speaker 1: kind of got over the worst of it, and they'll
Speaker 1: be uh. They'll be delivering further on their turnaround and
Speaker 1: seem to be progressing ahead of.
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