Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.
Let's take a look at some stocks on the move today. I'm Tom Keen with Paul Sweeny and Bloomberg's Lisa Matteo.
Let's start there. Yes, Novo, notice their shares have been down as much as twelve percent in Copenhagen. That's actually the lowest level since July of twenty twenty one. The reason why is because the pill version, the pill version of its ozempic, it didn't slow the progression of Alzheimer's disease and a pair of high risk studies. Now that is a big setback because it was kind of opening that door to a new use for the drug instead
of just weight loss. They've been struggling after. You know, they're losing that top spot to Eli Lilly in the obesity market. They couldn't acquire obesity sort of Metzerah away from Pfizer. Their value is more than half this year, and they have investor concerns over its long term competitiveness, so a lot running against it. This did not help things. Because of the results from these studies, Novo's going to
discontinue that planned one year extension of the studies. So yet Eli Lilly their shares actually think on this news to two. But Biogen, which is developing different Alzheimer's drugs, their shares rose nearly seven percent.
I mean, I remember you guys talking about the signs out on thirty Avenue, Lexington Avenue at the advent of all this. Where are we in the next year with everybody taking this stuff.
I don't know. I mean I kind of. I think when they have the oral yeah, I think that's going to be big hill Yes, And when the price comes down even more, that'll be big I think. But I mean I'm looking at Novil Nordics. You weren't kidding, Lisa. This has got one and a quarter trillion dollars valuation, but it's off by fifty percent this year. I mean, that's a trillion dollars of shareholder value just lost this year.
Sitting moments ago, literally is Lisa reports Jeffrey Meatium over City Group, Eli Lilly A bye next.
Or you go Joe size Ali Baba, Okay, Yeah, there's zero, there's your boy. Their shares have been up more than four percent in Hong Kong.
So.
The company said it's rebranded qn ai tool Okay, that's what it's called. It hit ten million downloads in the first week after it became available to the public. It is in the top three of Apple's app store in China. It's basically looking to compete with open Aiyes, Chat GPT. So what exactly is qn okay? So it has Ali Baba's latest language model, large language model capabilities, but it is also set to incorporate Aegentic for functions like e commerce,
you know, the whole online shopping. The company said it's their most significant step yet in the consumer AI market. What will go into this, So they plant and integrate things like like core lifestyle productivity services like digital maps, food delivery, travel booking, office tools, e commerce education, I mean, health guidance. Yeah, it's a big, big, big market. The agents were being.
People doing food delivery. I don't get it.
They're all on the streets of like third Avenue here.
They've all pulled back. I mean, there were some charts this weekend of the pullback. Okay, you know of a lot of these tech stocks and have some, dammit.
So this 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.