Stocks

Today’s Stocks to Watch: Honda and Novo Nordisk

December 23, 2024 OnEquity

Key Points To Watch Out For:

  • Eli Lilly shares rise strongly after Zepbound approval
  • Novo Nordisk regains ground after a record fall
  • Honda and Nissan aim to solidify their position in the automotive market

Honda Motor (HMC): Merger Plans Boost Shares

Honda’s shares rose after the announcement that its board of directors agreed to evaluate a potential merger with Nissan. Additionally, the company reaffirmed its share buyback program, sparking optimism in the market and boosting investor confidence.

Novo Nordisk (NVO): Regaining Ground After a Record Decline

Novo Nordisk shares recovered partially, climbing 2% after a dramatic loss of nearly $100 billion in market value due to underwhelming results from a clinical trial. Analysts are now assessing the long-term impact of these results on the sales potential of its flagship products, Ozempic and Wegovy.

Eli Lilly (LLY): Gains Momentum After New FDA Approval

Eli Lilly’s stock surged following the FDA’s approval of Zepbound, its new obesity drug targeted at patients suffering from sleep apnea. This clearance has further strengthened investor expectations, with forecasts indicating significant revenue growth for the company in 2024.

Xerox (XRX): Multibillion-Dollar Acquisition on the Horizon

Xerox is reportedly close to finalizing a $1.5 billion deal to acquire Lexmark International, a company specializing in printing software and hardware. The stock remains steady as investors await official confirmation of the deal, which could significantly expand Xerox’s capabilities in the industry.

News Corp (NWSA): Strategic Divestment in Media Market

News Corp’s shares rose after confirming the sale of its stake in Foxtel to DAZN Group for $2.1 billion. This move aligns with the company’s broader strategy to focus on higher-margin digital businesses, signaling a shift in its operational priorities.

BNP Paribas (BNP): Strengthens Position in Asset Management

BNP Paribas announced the acquisition of AXA’s investment management division for €5.1 billion, elevating its status as one of Europe’s largest fund managers. Following the announcement, the bank’s shares saw a modest rise of 1.2%, reflecting positive market sentiment toward the strategic move.

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