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The Stock Movers report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm going to get you a little bit of a sneak peek on some of the stocks that are catching a rye on the day. Alex Siminova does that for us on the single stock moves and not at all. Disc one that has been an interesting ride throughout twenty twenty five.
What's the doing today?
Yeah, company that was a big winner and has now turned into a loser. Unfortunately, it cut the listing price of its obesity drug Wagovi by half in some parts of China. This was reported by the local media there. The Danish drug maker is getting ready for a potential flood of copycats as in China as its Semiglue tide patenteer's expiration that is the key ingredient in some of those obesity drugs. The prices of the drug offered by
Chinese e commerce GIANTJD dot Com we're also lowered. And we always talk about the AI arms race, but you got to look at the JLP one arms race. Also a Novo Nordisk was of course at the forefront of this space with its blockbusters wigov and Ozepic, but it is now down forty percent year to date as the competition heats up in the space. Rival Eli Lilly, by contrast, is up forty percent. It has really emerged as a winner.
What else Scott fors here today?
So can always count on biotech companies to show some outsized moves, and one of them is Practice Precision Medicine that is ticker prax. It's sort as much as eighteen percent today to breach the highest intra day level since twenty twenty one. This is a biotech company that received a breakthrough therapy designation by the FDA for treatment of patients with essential tremor. Piper Sandler analysts say that they
notched quote another major win with this development. They believe that Pracxice is positioned for a monumental twenty twenty six and also looking at some of the other movers in the space, biotech stocks are going kind of crazy today. Some other names that saw poor results on some of their studies Ultragenics Pharmaceutical. Those shares are down forty two percent that is ticker rare and a remarkable room. A move here on Mario bioformer group. It is falling ninety percent.
Not every day that you see that type of move.
Let's talk about moves on the day, actually swinging between gains and losses. We were lost, now I'm back into the green. If you're looking at Lululemon, what swings we are seeing being taken by the founder of the business, Chip Wilson.
Yeah, this has been the big story of today. He is launching a proxy fight at the retailer in an effort to remake the company's board as they wait for a new CEO. Wilson has nominated three director candidates to the company's board. According to sources, the nominees are executives from on running ESPN and Activision, so looking for folks here who are really familiar with the space. He still remains Lulu's second biggest shareholder, with a nearly nine percent
stake in the company. He also reportedly isn't really trying to put himself back on the board, just trying to have some say in the future of the company. And it is rare to see a founder of a company turning to a hostile approach in the way that he is right now. Lululemon is, of course, in the midst of somewhat of an identity crisis, after announcing that it's CEO, Calvin McDonald, will be leaving in January. It seems like twenty twenty five I've had a fair amount of activist investor activity.
I mean, I guess I'm.
I mean, stock markets hitting all time high. I would think you'd see it on the other side.
Especially in retailers. A lot of those companies seeing people step in and try to revamp the stock prices. Target recently announced for the same.
Okay, very good. I guess that's a living for some people.
This stock mover's 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 its 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.