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