Novo Nordisk Shares Are Now Recovering from Peak Pessimism
By
Novo Nordisk A/S shares are staging a comeback after a tumultuous year for the maker of Ozempic and Wegovy.
The stock is up more than 27% from a multi-year low in April, and the Danish drugmaker is now neck-and-neck with software developer SAP SE to claim the spot of Europe's most valuable public company. Investors have been getting more positive on the prospect of a sales rebound for Wegovy, and about a potentially firmer direction for the company after last month's announcement of the ouster of Chief Executive Officer Lars Fruergaard Jorgensen.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
36 minutes ago
- Yahoo
Kering bets on Renault boss Luca de Meo to revive Gucci
Francois-Henri Pinault, the billionaire heir who has headed up the French fashion house Kering Group for the past 20 years, has picked the CEO of automaker Renault to be his successor. The stock market's reaction? That's gucci. Pentagon Pizza Index: The theory that surging pizza orders signal global crises 5 signals that make you instantly more trustworthy at work What's behind the rise in interim CEOs Shares of Kering jumped Monday after reports trickled out beginning Sunday that Kering planned to tap Luca de Meo as its new CEO. The stock closed 13.5% higher. The Paris-based company confirmed the news in a statement on Monday, indicating that de Meo will take the helm of the struggling fashion house as it 'enters a new phase of development.' Pinault will stay on as chairman of the board of directors after de Meo takes the helm in September. Pinault said in the statement that he first met de Meo a couple years ago when he 'launched a reflection on the evolution' of the company's governance. 'His experience at the helm of an international listed group, his sharp understanding of brands, and his sense of a strong and respectful corporate culture convinced me that he is the leader I was looking for to bring a new vision and steer this chapter in our Group's history.' The big jump in Kering shares suggests investors are at least hopeful about Kering's future, and Bernstein analysts noted that brand management and marketing are de Meo's forte, as reported by CNBC. Kering shares have fallen more than 72% in the past four years as the company has struggled to convince customers—and investors—of its appeal. Much of Kering's problem rests with Gucci, the group's biggest brand by far, accounting for 44% of revenue in 2024. Gucci has been dragging down the rest of the company: In the first quarter, Gucci's sales fell 25%, while Kering's fell 14%. Gucci has fallen out of fashion among consumers, and particularly in China and the broader Asia-Pacific region. The brand closed two stores in Shanghai earlier this year, while other brands have gained traction among consumers there—and elsewhere. Attempts to breathe some new life into the brand—such as the March announcement of Demna as Gucci's new creative director following a decade-long stint at Balenciaga—didn't assuage investors. And consumers looking for a handbag that's nostalgic to Gucci's golden years might find a more attractive option in an independent collection of handbags by Alexandra Gucci Zarini, an heir to the Gucci family, While de Meo had a successful tenure at Renault—during which time the stock jumped nearly 90%—he faces a difficult road in his new role. 'De Meo has a titanic challenge ahead of him,' Luca Solca, analyst at Bernstein, told The Wall Street Journal. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
44 minutes ago
- Bloomberg
Nvidia's ‘Sovereign' AI Could Win a Prize for Irony
Nvidia Corp. billionaire boss Jensen Huang, clad in his signature leather jacket, has been crisscrossing European capitals and sharing the stage with the likes of Keir Starmer and Emmanuel Macron as he pitches 'sovereign' artificial intelligence, a vision of new data centers offering essential compute power within national borders rather than via dominant tech firms from abroad. But if there were prizes for irony, it's a concept that might win a few. Huang's pitch has understandably struck a chord with leaders desperate for new sources of productivity gains and for ways to avoid falling terminally behind in a tech race dominated by the US and China. Recent announcements include a partnership with French AI startup Mistral to build a cloud platform powered by 18,000 Nvidia Blackwell chips and a Germany-based industrial cloud for European manufacturing built with 10,000 Blackwell chips. It's not just Europe — Nvidia has cut big sovereign AI deals in the Middle East — but the Old Continent is where Huang sees computing capacity increase by a factor of 10 over the next two years. 'It's coming,' he said.
Bloomberg
an hour ago
- Bloomberg
British Banking Minnow TSB Is a Big Deal for Europe
Another day, another potential spanner in the works of European banking consolidation. Banco de Sabadell SA has had 'preliminary non-binding expressions of interest' for its UK arm, TSB Banking Group Plc, it said late on Monday, confirming reports in the Financial Times. This offers a convenient defense against the Spanish bank's pending €13 billion ($15 billion) takeover by BBVA SA — convenient because it's very much against Spanish rules to shop parts of yourself around while subject to a formal bid. For BBVA, a TSB offer could threaten the pricing and dynamics of its tender for Sabadell shares, expected to be launched next month. It will certainly muddy the waters for Sabadell investors. As in Italy, where an interlocking series of deals is turning into an unpickable Gordian knot, this Spanish situation risks becoming a stalemate, too.
