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21.09.26 - 14:18
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Stocks Rise as US, China Hail Positive Talks Ahead of Trump-Xi Summit (Bloomberg)
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Global stocks rally as markets look ahead to President Xi Jinping's visit to Washington later in the week. US Treasury Secretary Scott Bessent and China's top trade negotiators tout positive talks around AI, trade and investment over the weekend. Oil extends its decline for a fourth consecutive day, while US retail diesel prices top $6.50 a gallon for the first time. Mark McCormick of BMO Capital Markets joins "Bloomberg Brief" to discuss the Fed's rate path and financial conditions ahead of a slew of Fedspeak this week. (Source: Bloomberg)...
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21.09.26 - 13:03
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Investor Day Bust: Novo Nordisk Plunges As Wall Street′s Turnaround Hopes Fade (ZeroHedge)
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Investor Day Bust: Novo Nordisk Plunges As Wall Street's Turnaround Hopes Fade
Novo Nordisk shares tumbled as much as 7.7% in Copenhagen trading after Wall Street analysts questioned the Danish drugmaker's turnaround efforts amid the loss of its GLP-1 lead to Eli Lilly & Co.
At its capital markets day earlier in London, Novo outlined plans for more than five blockbuster launches and over $23 billion in new sales in the coming years. But that comes as its obesity-market lead has been surrendered to Eli Lilly, and analysts were hoping for more commentary from management about turnaround efforts as the stock is down 18% on the year.
"Investors are selling the shares because they are not seeing concrete news that could drive the stock higher," Nordnet investment economist Per Hansen wrote.
CEO Mike Doustdar told analysts, "We need to work harder, and we will." However, much of the optimism from capital markets a few years ago about Novo leading the GLP-1 race has all but fade...
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