Stock Movers Novo Nordisk Data Dump, Johnson Matthey Falls, Enel Up
Feb 23, 2026
A deep dive into a surprising trial result that rattled a major pharma stock. A sharp fall in a UK chemicals group's shares after a buyer cut its offer. A regional bank gets a bullish upgrade that lifts its share price. Quick rundowns on drug format trends and market reactions to corporate deals.
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Novo Nordisk Drug Falls Short Versus Lilly
- Novo Nordisk's Cagrisema delivered about 20% weight loss versus Eli Lilly's 23.6%, missing the primary endpoint in a head-to-head trial.
- Louise Moon frames this as a fresh setback for Novo amid intensifying competition and a shift toward oral alternatives over injections.
Honeywell Slashes Offer For Catalyst Unit
- Honeywell cut its offer for Johnson Matthey's Catalyst Technologies unit from $1.8bn to $1.33bn and extended the regulatory timeline, prompting a sharp share drop of about 17%.
- Louise Moon describes the move as a salvage deal after Honeywell considered walking away over regulatory concerns, reducing expected proceeds despite a £1bn return pledge.
BofA Upgrade Boosts ABN Amro Shares
- Bank of America upgraded ABN Amro to buy from neutral, citing attractive valuation, improved profitability from cost savings, and potential for share buybacks.
- Caroline Hepker notes the upgrade lifted ABN Amro shares nearly 4% and fits a broader analyst bias with 12 buys versus 5 holds and 5 sells.