Speaker 1: Bloomberg Audio Studios, Podcasts, radio News, The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: I want to take a look now at some of
Speaker 2: the stocks on the move today. I'm Alexis Christophers along
Speaker 2: with Isabell Lee Weer in for Paul and Scarlett on
Speaker 2: this Friday, and we are joined by Bloomberg's Tatiana Darier
Speaker 2: here in studio on a Friday. Tatiana, thanks so much
Speaker 2: for stopping in. So we're going to start with the
Speaker 2: stock we've been talking about all morning long, and that's Adobe,
Speaker 2: one of the losers.
Speaker 3: Today, one of the biggest losers today, down seven percent.
Speaker 3: They reported largely solid earnings, but the bigger news was
Speaker 3: that CEO Narayan will resign from his position as the
Speaker 3: street increasingly questions the company's ability to thrive in this
Speaker 3: AI era. The CEO has been around for eighteen years
Speaker 3: and will remain in the position until the successor has
Speaker 3: been appointed. But this comes as a big surprise to
Speaker 3: the market, as you guys have mentioned before, with analysts
Speaker 3: saying that it adds questions around strategic continuity, capital allocation,
Speaker 3: priorities and just the future of the stock. Even though
Speaker 3: the business has been growing and steady, there's all these
Speaker 3: fears about AI disruptions which have put pressure on the stock. Hence,
Speaker 3: perhaps this is not a total surprise, yet the market
Speaker 3: always spooked when you get news like that.
Speaker 2: What about Peloton, I feel like this is one of
Speaker 2: the famous companies during the pandemic and now it's what's
Speaker 2: going on?
Speaker 3: Yeah, it's lost some of it shines is then as
Speaker 3: people have hit the gyms and went back to the office.
Speaker 3: But shares are slightly down here as the market rolled
Speaker 3: over was hired by two percent earlier and that's on
Speaker 3: a story we have on the terminal today. And the
Speaker 3: company is working on some new products. They want to
Speaker 3: expand their AI drint platform, pushing into strength training insights
Speaker 3: and also communicate with users through personally plans. They also
Speaker 3: want to prioritize treadmills over bikes and even introduce lower
Speaker 3: price versions. And they're pushing for marketing campaigns to appeal
Speaker 3: to the growing number of users on GLP one weight
Speaker 3: a lot of drugs. And of course this comes after
Speaker 3: last year they tried to unsuccessfully revive and update their hardware,
Speaker 3: but Wall Street was not impressed about that. Investors punished
Speaker 3: the stock. The hope is now that this will go better,
Speaker 3: but the caveat these new products are now at least
Speaker 3: a year away, is what our reporting shows. So wow,
Speaker 3: don't hold your hopes too high.
Speaker 2: Just to be patient with the peloton, all right. And
Speaker 2: then here's a company we've been talking a lot about.
Speaker 2: I was never talking about this company, and now I
Speaker 2: feel like I'm doing it, like at least a couple
Speaker 2: times a week. Hymn's and Hers.
Speaker 3: Health exactly ticker's him AS shares are also slightly down.
Speaker 3: It's given back some of its gains, but it has
Speaker 3: had a record week, and that's because they just announced
Speaker 3: a partnership with Novo Nordisk, So that's behind the fifty
Speaker 3: three percent rally this week. As this arrangement will now
Speaker 3: allow Hymns to sell Novo's weight loss drugs, not just
Speaker 3: the copycats, or not no longer the copycats, rather because
Speaker 3: this was a part of the deal, that they will
Speaker 3: no longer advertise those compounded versions, but they said they
Speaker 3: will still sell them if the doctor requires, and only
Speaker 3: say that the deal alleviates near term concerns obviously while
Speaker 3: putting Hymns back on the right path. And they're hoping
Speaker 3: that this time the agreement will stick because remember from
Speaker 3: last year or earlier this year in June, they announced
Speaker 3: one and then Nova accused them of deceptive market was
Speaker 3: suing them and then resue them in the end. So
Speaker 3: all of that has come for now.
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