Stock Movers Truist Financial Rises, Micron Falls, Novo Nordisk Slides After Trump Touts Lower Ozempic Price
Oct 17, 2025
Truist Financial's stock rises after a strong earnings report, highlighting resilience in consumer demand for car loans. Meanwhile, Micron faces a decline after deciding to halt server chip supplies to China, following a significant ban. In a surprising twist, Novo Nordisk's shares drop as Trump hints at a potential reduction in the price of Ozempic, stirring up discussions about weight-loss drug pricing. Analysts weigh in on the ongoing negotiations and market implications.
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Truist Shows Regional Bank Resilience
- Truist Financial beat expectations on adjusted EPS and revenue, signaling resilience in regional banking amid volatility.
- Management noted no exposure to Tricolor Holdings but some exposure to First Brands, factored into loan-loss guidance.
Micron Pulls Back From Chinese Data Centers
- Reuters reports Micron plans to stop supplying server chips to Chinese data centers after failing to recover from a 2023 ban.
- Micron will still sell to Lenovo and in auto and mobile sectors, limiting but not eliminating China revenue.
Ozempic Price Talk Hits Drug Stocks
- Novo Nordisk shares plunged after Trump suggested Ozempic could drop to $150 a month, pressuring drug stocks broadly.
- Analysts note negotiated prices may already be 60–70% below published prices after insurer discounts, muting long-term fundamental impact.