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Let's take a look at some stocks on the move today. I'm Emi Grafeo with Tim Senovic, and we're joined by Bloomberg News Equities reporter Alex Semonova. Let's start with healthcare stocks.
We obviously have a lot of developments coming out of the JP Morgan Healthcare conference and guys, unsurprisingly a hot topic there is GLP one drugs. We have Eli Lilly's CEO talking with our own Katie Greifeld, saying that the company expects its highly anticipated pill version of its GLP one drug to get regulatory approval as early as the second quarter of this year. That is slightly later than it signaled. However, there still is a lot of enthusiasm
for this version of the drug. It makes more accessible to people who are afraid of needles, and that's also something that Novo Nordisk gets competitor touted. It said that its pill is also going to hit the markets and what this will do is give you know, more people the option to take GLP ones. Novo and Eli Lilly together right now, are selling those drugs to round ten
to fifteen million people in the US. The total number of people living with obesity in the country is actually expected to be estimated to be one hundred and ten million, so perhaps these developments will make everyone be able to take them well.
Speaking of GLP ones, let's talk about hamburgers.
Yeah, good transition, Thank you. Funny enough I.
Got to do that. I was like, can I talk about hamburgers?
It was perfect, It was perfect. Hamburgers are not doing that well.
Is it because of GLP ones?
Well, allegedly, according to the CEO, it is not. It is because of in clement weather. They were saying that a lot fewer people were going to their store, to their restaurants rather, and they weren't buying hamburgers. I'm thinking that it's part of a broader shift away from some of these meals we've seen it. Consumers are kind of downsizing what they're eatings and also eating. And also some of these fast casual restaurants have been struggling a lot. Chipotle, Kava,
Sweet Green. People are just not into those pops.
Hold on, hold on, do we put Shakeshack in the fast casual category of like Kava, sweet Green, dig those things. I feel like Shakeshacks like sort of like a dinner indulger with I.
Think investors do, but we clearly don't. I feel like sweet Green is for your sad bowl, sad desk bowl that you eat for lunch when you're in the office. Shack is like a treat. It brings you joy, it makes you excited.
Yeah, I agree.
I think I go to the air to eat Shakeshack. So maybe there's some signal about people traveling less.
That's a good Everything is an economic indicator.
I I'll be honest. I initially laughed at that inclement weather, but the more I thought about it, Shakeshack doesn't travel well. You know, like it wouldn't be good to order that yeah Uber Eats because it's like it's a burger, it's.
Gonna be all it'll be all soggy.
Yeah, Whereas like you could probably get away with a Chipotle door dash order right.
Delta and Shakeshack last year announced this expanded partnership first class flights out of Atlanta, LA, New York and some others with Shakeshack. Okay, so they're trying to like make the shakeshack on the plane.
I saw an influencer post on Instagram that she was having shakeshack on her adulta flight. I was very jealous.
Yes, but you pay like two thousand dollars for a first class and then served a hamburger.
Okay, okay, so wait, I have one more comment on on shakeshack.
What's that?
Uh?
I forgot it? So I don't have it?
All right? We have one more consumer name to get to a n f and.
F Abercromine Fitch. This one is a throwback. I was a big fan back in middle school. It had a nice revival in the past couple of years, but it sank today eighteen percent after holiday sales disappointed investors. That also sparked a retail sell off, seeing companies like Urban
Outfitters also falling. It had jumped ninety percent since the company reported strong third quarter results in November, which is a pretty incredible run, but they plummeted eighteen percent today, So perhaps the bar was just really high going into this earning season. And also people were hoping that holiday shoppers would give a boost to some of the retail stocks, and that was kind of a signal that it didn't.
We going from six percent to five percent, that's not nothing. And like you said, I feel like you said, the bar was really high. Where are we in sort of like Emily was explaining this to me a little earlier, but like just in twenty seconds, where where does Abercrombie kind of live in the retail and fashion world right now?
It's kind of, I guess a mixed bag. When you look at retail stock's broadly. Lululemon, for example, which has been struggling, saw a revival. Abercrombie has been a hit. There's been a revival in the Y two K style. The stock has been doing well. But we'll see maybe some of the losers of last year becoming winners this year, and vice versa.
The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.