Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Now, let's look at some of the stocks on the
Speaker 3: move today here in Europe. I'm Caroline Hepkin. I'm joined
Speaker 3: by Bloomberg's Breaking News editor Louise Moon.
Speaker 2: Hi.
Speaker 3: Louise So Nova Nordis shares starting a crash dart this morning.
Speaker 1: Indeed, I mean down as much as eleven percent this morning.
Speaker 1: That is after their new weight loss injection that they
Speaker 1: didn't meet the primary points, so the trial wasn't as
Speaker 1: successful as hoped in comparison to Eli Lilli's or direct comparison.
Speaker 1: So in terms of figures, Novo's drug cagary Seima achieved
Speaker 1: about twenty percent weight loss and Eli Lilly's comparative drug
Speaker 1: achieved about twenty three point six percent weight loss, so
Speaker 1: it's less effect in that sense. It's essentially the latest
Speaker 1: setback for Novo. Obviously, there's been a lot of increased
Speaker 1: competition in the space, particularly from Eli Lilly, their main
Speaker 1: competitor in the US, and this is kind of their
Speaker 1: latest setback for their fresh new product.
Speaker 3: Essentially next generation of sort of product. As obviously everyone
Speaker 3: also starts to move to pills rather than injections, and
Speaker 3: there are more comparisons company to company in terms of
Speaker 3: what is being brought out. The weight loss over eighty
Speaker 3: four weeks can't quite work out. Eighty four weeks is
Speaker 3: just over a year, right, yeah, so that's yeah, over
Speaker 3: twenty percent weight loss in over a year. Okay, let's
Speaker 3: think about other companies. Honeywell don't appear to want to
Speaker 3: sweeten their deal for Johnson Mathey.
Speaker 1: No, slashed their deal prices for a unit of Johnson
Speaker 1: Mathey called Catalyst Technology, so both industrial powerhouses. This unit
Speaker 1: makes enzymes for industrial processes, so it's one of their
Speaker 1: units that Honeywell wanted to buy. Initially it was for
Speaker 1: one point eight billion, and then this morning they say
Speaker 1: that the price has been slashed to one point three
Speaker 1: to three billion. They've also extended the deadline to get
Speaker 1: all done, to get all the regulatory approvals, et cetera,
Speaker 1: and to push the deal through. The context being that
Speaker 1: Honeywell had wanted to walk away partly on concerns over
Speaker 1: regulatory approvals. So this is a salvage deal, but at
Speaker 1: a not so sweet price. So Johnson Massi's shares plunged
Speaker 1: on the news. Actually they plunged about seventeen percent this morning,
Speaker 1: so obviously still being bought, but getting less money for that.
Speaker 1: And that's despite them pledging to return a billion of
Speaker 1: that billion pounds to shareholders.
Speaker 3: And speaking of sweet things, it's a bit late for Valentines.
Speaker 3: But abian Amro got a love letter from an analyst.
Speaker 1: They did, and at boos to their shares up almost
Speaker 1: four percent this morning, at one point the most since November.
Speaker 1: So Bank of America raised their recommendation for aa Amro
Speaker 1: from a neutral to a buy and increase their price
Speaker 1: target as well. They're saying the bank's got an attractive valuation,
Speaker 1: improved profitability partly driven by cost savings, They see upside
Speaker 1: to targets that have been set by management, and all
Speaker 1: of that could lead to more buyback, so catalysts for
Speaker 1: the share price to rise. Adds to another buy for
Speaker 1: the bank buys a dominating recommendation to twelve buys versus
Speaker 1: five holes and five cells, so giving a bit of
Speaker 1: a boost to their share price in one train.
Speaker 2: The stock movers report from Bloomberg Radio check Back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street, and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.