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Now, let's have a look at some stocks on the move today here in you. I'm Caroline Hepget and I'm joined by Bloomberg reporter chlomber Lay. Good morning, Chloe. Let's start with another nor Disk stock down facing a negative impulse.
Y Well, it was downgraded to an underweight rating by Morgan Stanley this morning, and so that was driving the stock down. Excuse me, but Morgan standly noted a re weak prescription growth for GLP one's going forward, then also growing competition in that space. So and Liz said that they did not see kind of any major positive catalysts going forward in that it saw they saw low probability of success for the Evoke trial, which is the clinic called trial to see if GLP ones can be effective
for Alzheimer's. Nova has been obviously under quite a lot of pressure in recent months. It's dealt with management changes,
changes that kind of rattled the market. Most recently, it was the European Farmer company that was the worst hit let then use that Trump was setting the stage for the for those tariffs on branded drugs, you know, because it was the tariffs, except if the company is building a manufacturing base in the US, and because the key ingredient Inigo vy and a zempiic is made in Denmark, it was under a lot of pressure last week on the back of that. So this is just really another
setback for the company. It's worth noting we're only at two sell ratings for Novo, so there's still some confidence in the stock and it was recently raised to buy at Berenberg, but so some analysts are still keen. But this downgrade by Morgan Stanley will be noted. And what was this morning? Yeah, okay, so that's.
Very interesting on nervan nor disc Have you seen around London as I have the move GLP one affecting fashion trends, affecting the sorts of foods that being offered, not just in restaurants but even in fast food chains. Yeah, absolutely extraordinary is that sort of change, how much it does seem to be affecting societies. Let's stick with the farmer theme. GSK announcing a change at the top of the company.
Yeah, indeed, so CEO Emma Warmsley is stepping down after almost nine years at the company. She'll be replaced in January on January first by Luke Miles, who is currently the chief commercial officer at JESK. So, under Wormsley's watch, the shares have fallen about eleven percent. JESK did pretty well overall, and there was some guidance upgrades throughout the years, et cetera. But they have fallen a little bit and she has been facing pressure from investors about the company's
drug pipeline. So there's real concern from investors over whether the company had the right strategy to meet the forty billion in ponds and sales target that it had set out, which is forty billion in sales by twenty thirty one. So the new CEO, Meals, has been working on kind
of growing the company's drug portfolio, especially in oncology. And so by the way that the shares have reacted, which was quite positively, it seems that the market is quite keen on Meals and confident that he might be able to kind of rebuild that pipeline. Yeah.
Absolutely, she's stepping down in January's I've been there something like eight years since about twenty seventeen. So yes, Emma Walmsley, surprise resignation, surprise departure at GSK Lufthansa. Lastly planning job cuts.
Yeah, and quite a lot actually, So plans to cut four thousand administrative jobs by twenty thirty, which is kind of a reduction in workforce on a scale that we've not seen since the pandemic for that airline sector. The movie is expected to generate about three hundred million euros in annual savings, and for Luftanzo, it's really all about trying to rebuild that profitability. It's been dealing with quite a lot of challenges lately. There was the fallout from
pilot strikes, which was really disruptive to operations. There's slow aircraft deliveries which have pushed back the transition to more kind of fuel efficient models. And then it's also been dealing with an underperforming manline airline that's really weighed on results. Last year, the group was forced to lower the guidance twice and it also fell short of the medium term margin targets that it laid out in twenty twenty one.
So the market reacted quite positively to really drastic measures to kind of get that margin back on track for Lachanza.
Yeah, four thousand jobs to go by twenty thirty.
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