WEBVTT - Novo Nordisk Data Dump, Johnson Matthey Falls, Enel Up  

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

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

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

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<v Speaker 3>Now, let's look at some of the stocks on the

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<v Speaker 3>move today here in Europe. I'm Caroline Hepkin. I'm joined

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<v Speaker 3>by Bloomberg's Breaking News editor Louise Moon.

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<v Speaker 2>Hi.

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<v Speaker 3>Louise So Nova Nordis shares starting a crash dart this morning.

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<v Speaker 1>Indeed, I mean down as much as eleven percent this morning.

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<v Speaker 1>That is after their new weight loss injection that they

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<v Speaker 1>didn't meet the primary points, so the trial wasn't as

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<v Speaker 1>successful as hoped in comparison to Eli Lilli's or direct comparison.

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<v Speaker 1>So in terms of figures, Novo's drug cagary Seima achieved

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<v Speaker 1>about twenty percent weight loss and Eli Lilly's comparative drug

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<v Speaker 1>achieved about twenty three point six percent weight loss, so

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<v Speaker 1>it's less effect in that sense. It's essentially the latest

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<v Speaker 1>setback for Novo. Obviously, there's been a lot of increased

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<v Speaker 1>competition in the space, particularly from Eli Lilly, their main

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<v Speaker 1>competitor in the US, and this is kind of their

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<v Speaker 1>latest setback for their fresh new product.

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<v Speaker 3>Essentially next generation of sort of product. As obviously everyone

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<v Speaker 3>also starts to move to pills rather than injections, and

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<v Speaker 3>there are more comparisons company to company in terms of

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<v Speaker 3>what is being brought out. The weight loss over eighty

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<v Speaker 3>four weeks can't quite work out. Eighty four weeks is

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<v Speaker 3>just over a year, right, yeah, so that's yeah, over

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<v Speaker 3>twenty percent weight loss in over a year. Okay, let's

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<v Speaker 3>think about other companies. Honeywell don't appear to want to

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<v Speaker 3>sweeten their deal for Johnson Mathey.

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<v Speaker 1>No, slashed their deal prices for a unit of Johnson

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<v Speaker 1>Mathey called Catalyst Technology, so both industrial powerhouses. This unit

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<v Speaker 1>makes enzymes for industrial processes, so it's one of their

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<v Speaker 1>units that Honeywell wanted to buy. Initially it was for

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<v Speaker 1>one point eight billion, and then this morning they say

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<v Speaker 1>that the price has been slashed to one point three

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<v Speaker 1>to three billion. They've also extended the deadline to get

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<v Speaker 1>all done, to get all the regulatory approvals, et cetera,

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<v Speaker 1>and to push the deal through. The context being that

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<v Speaker 1>Honeywell had wanted to walk away partly on concerns over

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<v Speaker 1>regulatory approvals. So this is a salvage deal, but at

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<v Speaker 1>a not so sweet price. So Johnson Massi's shares plunged

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<v Speaker 1>on the news. Actually they plunged about seventeen percent this morning,

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<v Speaker 1>so obviously still being bought, but getting less money for that.

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<v Speaker 1>And that's despite them pledging to return a billion of

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<v Speaker 1>that billion pounds to shareholders.

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<v Speaker 3>And speaking of sweet things, it's a bit late for Valentines.

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<v Speaker 3>But abian Amro got a love letter from an analyst.

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<v Speaker 1>They did, and at boos to their shares up almost

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<v Speaker 1>four percent this morning, at one point the most since November.

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<v Speaker 1>So Bank of America raised their recommendation for aa Amro

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<v Speaker 1>from a neutral to a buy and increase their price

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<v Speaker 1>target as well. They're saying the bank's got an attractive valuation,

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<v Speaker 1>improved profitability partly driven by cost savings, They see upside

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<v Speaker 1>to targets that have been set by management, and all

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<v Speaker 1>of that could lead to more buyback, so catalysts for

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<v Speaker 1>the share price to rise. Adds to another buy for

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<v Speaker 1>the bank buys a dominating recommendation to twelve buys versus

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<v Speaker 1>five holes and five cells, so giving a bit of

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<v Speaker 1>a boost to their share price in one train.

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