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Well, let's take a look at some stocks on the move today in Europe. I'm Stephen Carroll with Lizzie Burden, and we're joined by Bloomberg's Breaking news editor Louise Moon for more. Louise starting first of all with Novo. Nordis cutting its fourth quarter forecast after lagging sales and those blockbuster weight loss drugs tell us more.
Indeed, yeh shares a kind of fluctuating morning nights, sir, indeed ya yoing this morning they turned their forecast, as you say, that's for the fourth time this year, and that came alongside quite disappointing third quarter earnings, so particular look at profit that felcial investments. Sales were also lower. The growth was the slower since the first quarter of twenty twenty one. And this is all on the back of what's been an ongoing lagging sales in their obese drugs.
They're blockbuster drugs are also grappling with increased competition, slower market expansion and the new CEO is really trying to be aggressive to combat all of that. So you know, he's laying off a chunk of staff and he's he was trying he is trying still to win Obaesti startup. That's kind of competing with Pfizer to do that. So
a lot of challenges that Novo is facing. Their stock has already lost about half of its value so far this year, and a lot of that is, as I say, on those competition concerns, and lists are noting though that some of the commentary abround pricing of drugs in the US was better than expected, and that's kind of explaining that fluctuation in share prices. Despite you know, that trimming of forecasts and those disappointing earnings, there is that bit
of light of positivity. So shares seesawing yo yoing on the back of that.
So from those moves on Nova Noordisk returned to austed in Copenhagen shares two and a half percent Louise.
Indeed, Yeah, they've confirmed their full year profit guidance, essentially trying to reassure investors. So they'd slash that in your and said in September, and they also had quite a week third quarter. Today, so for example, they took a chunky net charge link to US tariffs that was about
two hundred and seventy seven million US dollars. And they've also, you know, there's been reports that we've spoken about before of holding a project off a near Rhode Island, and they're trying to deliver quite a turnaround essentially, So they're saying that their portfolio of projects is progressing on schedule as part of that kind of reassurance today and the CEO is really trying to signal a return to normality despite a lot of their ambitions in the US hitting
some hurdles, hitting some roadblocks. There was an interesting quote from one of our analysts saying that although today's results were weak, the numbers will kind of be of less interest to investors, and the broader context and regulatory developments in the US is a bit more of a driver of their share price at the moment. So trying to reassure had a week third quarter, but trying to signal that return to normality and that focus on their portfolio.
Okay, so that's Arista at their show is slightly higher this morning. Let's turn then too Marks and Spencers in the UK reporting adjusted pre tax profits for the first half of the year. That beat estimates.
What's going on indeed, so it's quite an interesting picture when you look at it. So they beat estimates, but these profits did still post a huge drop in the first quarter. They had a really tough first quarter, all to do with a cyber attack in April which affected their online sales for about four months and it's really hit them. So a tough first quarter, but as you say,
did slightly beat estimates. You know, people expected it to be worse and then now it was a really positive upbeat commentary from their CEO this morning, saying, you know, there's a lot more to be done, but food's outperforming, fashion, home and beauty is slightly lagging, but getting there. It's progressing after this cyber attack, and looking forward, they expect second half profits to rebounce it be at least in line with last year. So as I say, yeah, quite
upbeat from him. He described the first half as an extra ordinary moment in time. The cyber attack came at quite a bad time. He was starting to deliver on his turnaround. But yeah, signaling the going forward, they've they've kind of got over the worst of it, and they'll be uh. They'll be delivering further on their turnaround and seem to be progressing ahead of.
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