In This Article:
Wealth host Brad Smith discusses some of Wednesday's trending stocks.
Novo Nordisk (NVO) stock is sinking after European drugmaker Roche (ROG.SW) reached a deal with Zealand Pharma (ZEAL.CO) to develop a weight loss drug, which is expected to close in the second quarter of this year.
Starbucks (SBUX) shares are sliding just ahead of its annual shareholder meeting, where CEO Brian Nichols' $96 million pay package will be scrutinized.
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shares of Novo Nordisk off roughly 5% this morning after the fellow European drug maker Roche reached a deal to develop a weight loss drug. As part of the deal, the Swiss drug maker will pay Zealand Pharma $1.6 billion in upfront cash as well as additional development and sales-based milestone payments worth up to $3.6 billion. This deal expected to close in the second quarter of this year. Shares of Novo Nordisk creator of weight loss treatments Ozempic and Wegovy, it's down over 13% year to date. Next up, let's take a look at shares of Starbucks falling hours ahead of its annual shareholder meeting. The company's investors will weigh in on CEO Brian Nichols $96 million pay package. It also marks the first investor meeting since Kathy Smith took over as the coffee giant's chief financial officer. Shares lower by about 2.4%.