1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,760 --> 00:00:18,119 Speaker 3: Now, let's look at some of the stocks on the 5 00:00:18,160 --> 00:00:20,760 Speaker 3: move today here in Europe. I'm Caroline Hepkin. I'm joined 6 00:00:20,800 --> 00:00:23,319 Speaker 3: by Bloomberg's Breaking News editor Louise Moon. 7 00:00:23,480 --> 00:00:23,600 Speaker 2: Hi. 8 00:00:23,720 --> 00:00:29,160 Speaker 3: Louise So Nova Nordis shares starting a crash dart this morning. 9 00:00:29,720 --> 00:00:33,320 Speaker 1: Indeed, I mean down as much as eleven percent this morning. 10 00:00:33,479 --> 00:00:38,000 Speaker 1: That is after their new weight loss injection that they 11 00:00:38,000 --> 00:00:40,479 Speaker 1: didn't meet the primary points, so the trial wasn't as 12 00:00:40,479 --> 00:00:45,720 Speaker 1: successful as hoped in comparison to Eli Lilli's or direct comparison. 13 00:00:46,520 --> 00:00:52,680 Speaker 1: So in terms of figures, Novo's drug cagary Seima achieved 14 00:00:52,680 --> 00:00:56,520 Speaker 1: about twenty percent weight loss and Eli Lilly's comparative drug 15 00:00:56,600 --> 00:00:58,720 Speaker 1: achieved about twenty three point six percent weight loss, so 16 00:00:58,760 --> 00:01:02,480 Speaker 1: it's less effect in that sense. It's essentially the latest 17 00:01:02,520 --> 00:01:05,959 Speaker 1: setback for Novo. Obviously, there's been a lot of increased 18 00:01:05,959 --> 00:01:08,720 Speaker 1: competition in the space, particularly from Eli Lilly, their main 19 00:01:08,880 --> 00:01:11,679 Speaker 1: competitor in the US, and this is kind of their 20 00:01:11,720 --> 00:01:15,720 Speaker 1: latest setback for their fresh new product. 21 00:01:15,800 --> 00:01:19,559 Speaker 3: Essentially next generation of sort of product. As obviously everyone 22 00:01:19,600 --> 00:01:23,240 Speaker 3: also starts to move to pills rather than injections, and 23 00:01:23,280 --> 00:01:25,959 Speaker 3: there are more comparisons company to company in terms of 24 00:01:26,000 --> 00:01:29,280 Speaker 3: what is being brought out. The weight loss over eighty 25 00:01:29,319 --> 00:01:32,000 Speaker 3: four weeks can't quite work out. Eighty four weeks is 26 00:01:32,040 --> 00:01:35,440 Speaker 3: just over a year, right, yeah, so that's yeah, over 27 00:01:35,520 --> 00:01:38,800 Speaker 3: twenty percent weight loss in over a year. Okay, let's 28 00:01:38,800 --> 00:01:42,080 Speaker 3: think about other companies. Honeywell don't appear to want to 29 00:01:42,120 --> 00:01:44,000 Speaker 3: sweeten their deal for Johnson Mathey. 30 00:01:44,280 --> 00:01:47,680 Speaker 1: No, slashed their deal prices for a unit of Johnson 31 00:01:47,760 --> 00:01:54,520 Speaker 1: Mathey called Catalyst Technology, so both industrial powerhouses. This unit 32 00:01:54,720 --> 00:01:57,600 Speaker 1: makes enzymes for industrial processes, so it's one of their 33 00:01:57,680 --> 00:02:01,040 Speaker 1: units that Honeywell wanted to buy. Initially it was for 34 00:02:01,080 --> 00:02:04,440 Speaker 1: one point eight billion, and then this morning they say 35 00:02:04,440 --> 00:02:07,360 Speaker 1: that the price has been slashed to one point three 36 00:02:07,360 --> 00:02:10,200 Speaker 1: to three billion. They've also extended the deadline to get 37 00:02:10,240 --> 00:02:14,040 Speaker 1: all done, to get all the regulatory approvals, et cetera, 38 00:02:14,120 --> 00:02:17,400 Speaker 1: and to push the deal through. The context being that 39 00:02:17,480 --> 00:02:23,560 Speaker 1: Honeywell had wanted to walk away partly on concerns over 40 00:02:23,639 --> 00:02:28,119 Speaker 1: regulatory approvals. So this is a salvage deal, but at 41 00:02:28,160 --> 00:02:32,000 Speaker 1: a not so sweet price. So Johnson Massi's shares plunged 42 00:02:32,000 --> 00:02:34,280 Speaker 1: on the news. Actually they plunged about seventeen percent this morning, 43 00:02:34,320 --> 00:02:37,800 Speaker 1: so obviously still being bought, but getting less money for that. 44 00:02:37,840 --> 00:02:40,880 Speaker 1: And that's despite them pledging to return a billion of 45 00:02:40,880 --> 00:02:43,040 Speaker 1: that billion pounds to shareholders. 46 00:02:44,160 --> 00:02:47,440 Speaker 3: And speaking of sweet things, it's a bit late for Valentines. 47 00:02:47,520 --> 00:02:52,440 Speaker 3: But abian Amro got a love letter from an analyst. 48 00:02:52,240 --> 00:02:54,360 Speaker 1: They did, and at boos to their shares up almost 49 00:02:54,360 --> 00:02:57,240 Speaker 1: four percent this morning, at one point the most since November. 50 00:02:57,280 --> 00:02:59,880 Speaker 1: So Bank of America raised their recommendation for aa Amro 51 00:03:00,440 --> 00:03:03,320 Speaker 1: from a neutral to a buy and increase their price 52 00:03:03,320 --> 00:03:07,120 Speaker 1: target as well. They're saying the bank's got an attractive valuation, 53 00:03:07,360 --> 00:03:11,720 Speaker 1: improved profitability partly driven by cost savings, They see upside 54 00:03:11,880 --> 00:03:14,639 Speaker 1: to targets that have been set by management, and all 55 00:03:14,680 --> 00:03:18,800 Speaker 1: of that could lead to more buyback, so catalysts for 56 00:03:18,840 --> 00:03:21,359 Speaker 1: the share price to rise. Adds to another buy for 57 00:03:21,440 --> 00:03:25,840 Speaker 1: the bank buys a dominating recommendation to twelve buys versus 58 00:03:25,840 --> 00:03:28,919 Speaker 1: five holes and five cells, so giving a bit of 59 00:03:28,960 --> 00:03:30,880 Speaker 1: a boost to their share price in one train. 60 00:03:31,919 --> 00:03:35,920 Speaker 2: The stock movers report from Bloomberg Radio check Back with 61 00:03:36,000 --> 00:03:38,600 Speaker 2: us throughout the day for the latest roundup of companies 62 00:03:38,680 --> 00:03:41,760 Speaker 2: making news on Wall Street, and for the latest market 63 00:03:41,800 --> 00:03:46,280 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 64 00:03:46,360 --> 00:03:49,840 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 65 00:03:49,920 --> 00:03:51,400 Speaker 2: the Bloomberg Business app.