Novo Dips, AB Foods Slumps, Inditex Climbs
On this episode of Stock Movers:
- Novo Nordisk will slash 9,000 jobs globally and cut its profit forecast for the third time this year as it fights to recover ground lost to its more efficient rival Eli Lilly & Co. in the booming obesity drug market.
- Associated British Foods shares slumped after the British conglomerate reported falling sales at its Primark budget fashion chain and gave a muted outlook for the sugar division next year.
- Inditex shares jumped after a positive start to the third quarter reassured investors on the fashion retailer’s growth prospects.
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