Novo Nordisk Drops, Puma Down, Trainline Rises

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1:02I'm Charles Kaper with Caroline Hettker. We're joined by Bloomberg reporter Chloe Malay. Chloe, a drop for Nova Nordisk. What's the story? Yes, and Overture's got downgraded by Morgan Stanley Analyst, who is cell rating. So there's an analyst who said they were quite concerned about subdued growth prospects for the company and said that those were not reflected currently in the valuation for Nova. And so the big problem really is the patent cliff that is facing a GLP ones in some markets. Like the US and Europe where generic competition is going to start coming quite soon. So about the mid 2030s is going to start happening. And of course, this loss of exclusivity on as some of those drugs is going to be a huge challenge for a Nova Nordisk and some of its peers as well. And so this latest downgrade now brings the overall number of cell ratings on that stock at five. So that's quite a lot given that they are just nine buys. And recently Deutsche Bank analysts also cut their recommendation on Nova saying there was very

2:04high uncertainty surrounding the outlook for the company. They said, you know, the latest results were quite messy. The weight loss pill did not manage to beat expectations. And there were a lot of hope essentially placed in this Wagovy pill. And there've also been some recent trial setback. There's been quite a few challenges there and the attention now is really turning on September 21st. When Nova will have its capital markets there. So we'll see if any further catalysts emerge in if it can reassure investors. Interesting. Nova Nordisk, okay. What about the news from Puma? Yes, so it's a management uncertainty there for Puma. So the Chief Commercial Officer will be stepping down on September 30th for personal reasons. This adds a little bit of uncertainty on the strategy given that Puma is currently in the middle of a big turnaround. So the latest results showed that some progress had been made on this reset, the strategic reset. The sales are still likely to continue being very weak throughout the rest of this year of

3:072026 with the focus being mainly on clearing the inventory and the hope that things that can sort of get back on track starting in 2027. It's been quite a tough time overall for those sportswear stocks. We had Lulu Laman cutting its guidance. Recently Nike and Adidas are struggling to get back in investors good graces. And so for Puma there is this kind of broader sector weakness and then this additional uncertainty from this management change as well. Weighing a little bit on the shares this morning. And finally, train line has released its latest forecast. Tell us more. Yeah, so quite a solid trading update this morning from a train line. Strong results in the first half a new buyback of £100 million and also maintained its guidance. So Anis have noted that the passage of volumes were quite resilient. That rail demand was quite strong. They have been some challenges and of course the extreme heat that we've seen in Europe as the demand in some parts of the international business.

4:09But the UK business is looking actually in pretty good shape. What's weighed on the shares recently for a train line was that the UK's competition in market authority as said last month, it was investigating a few firms including train line over drip pricing, which is when a company advertises a low initial price and then slowly adds fees on top of that taxes, service charges, etc. And so that investigation into train line has been creating some weakness in the shares. So this trading update has helped to relieve some of that pressure but we're still down about 10% a year to date for the company. This stock movers 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 latest market moving headlines, listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg.com and on Apple CarPlay and Android Auto with the Bloomberg Business app.

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