Novo Nordisk Plunges, Palo Alto Falls, Union Pacific to Buy Norfolk Southern
On this edition of Stock Movers: - Novo Nordisk (NVO) shares close down 23%, erasing more than $73 billion in market value, after the maker of Wegovy and Ozempic cut its sales and profit forecasts, citing slumping sales of weight-loss drugs. The Danish drugmaker also named a company insider as its new CEO, which one investor said may disappoint those hoping for a radical shake-up under an external hire. It was the stock’s steepest one-day drop on record and took the shares to the lowest level since March 2022.- Palo Alto Networks (PANW) shares fell after the Wall Street Journal reported…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.