Novo Nordisk stock crashes more than 20% after disappointing obesity drug data

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Novo Nordisk stock crashes more than 20% after disappointing obesity drug data. 💉 The company's stock fell sharply early Friday after the pharmaceutical giant, known for its blockbuster drugs Ozempic and Wegovy, posted disappointing clinical trial data for its experimental obesity drug CagriSema. Barron’s reports.

📉 SiliconSlide: Micron Technology shares slumped about 15% on Thursday, as a bleak forecast indicating sluggish demand for personal computers and smartphones overshadowed a lift from robust growth in sales of AI-related chips. Reuters reports.

📱 ChatApple: Apple has released its second set of Apple Intelligence AI features for the iPhone, iPad, and macOS. Yahoo Finance reports.

🚗 CarMaXcelerate: CarMax on Thursday posted its first quarterly sales increase in more than two years that also topped Street expectations, signaling a rebound in the used-car market and sending the retailer's shares up as much as 12%. Reuters reports.

🍴 PlateProfit: Darden Restaurants on Thursday reported quarterly earnings and revenue that met analysts’ expectations and better-than-expected same-store sales growth at Olive Garden and LongHorn Steakhouse. CNBC reports.

📈 AccenGrowth: Shares of Accenture surged Thursday after the professional services and consulting firm reported first-quarter results that topped analysts' expectations and lifted its full-year revenue growth forecast. Yahoo Finance reports.

🤖 QualArmWar: Jury deliberates in Arm, Qualcomm trial after closing arguments wrap. Reuters reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $MYSZ: My Size
Total gain: +245.92%

2. $TAOP: Taoping
Total gain: +104.54%

3. $NVNI: Nvni Group
Total gain: +93.25%

4. $APTO: Aptose Biosciences
Total gain: +67.8%

5. $PBM: Psyence Biomedical
Total gain: +65.04%

Santa Claus Rally: What It Is and Means for Investors

A Santa Claus rally is the sustained increase in the stock market that occurs around the Christmas holiday on December 25. Most estimate these rallies happen in the week leading up to the Christmas holiday, while others see trends that begin Christmas Day through January 2.

Theories that explain a Santa Claus rally include end-of-year tax considerations, a general feeling of optimism and seasonal happiness on Wall Street, and investing holiday bonuses. Some institutional investors settle their books and vacation during this time of year, leaving the market to retail investors, who tend to be more bullish toward the market.

📰 Read more

The closing price of the top three market percent gainers trading near or above $3 on December 19.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $PRFX: PainReform
Total gain: +427.64%
The stock appeared to be moving on no notable news.

2. $CADL: Candel Therapeutics
Total gain: +52.83%
The stock appeared to be moving on no notable news.

3. $SHCO: Soho House
Total gain: +47.65%
The company announced its results for the third quarter, which ended on September 29, 2024. Total membership increased to 267,494 in Q3 2024, up from 264,540 in Q2 2024, representing a 4.8% year-over-year growth. Total revenue for the quarter was $333.4 million, reflecting a 13.6% year-over-year increase compared to the revised figures for Q3 2023. Benzinga reports.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

CCL: Carnival
Before Market Open
Q4 2024
Estimate: 0.080
Actual: N/A

WGO: Winnebago Industries
Before Market Open
Q1 2025
Estimate: 0.200
Actual: 0.030

Time (ET) / Report / Period

7:30 am - San Francisco Fed President Daly TV interview
8:30 am - New York Fed President Williams TV interview
8:30 am - Personal income (nominal) - November
8:30 am - Personal spending (nominal) - November

"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks."

― Benjamin Graham

Sourced in:
The Intelligent Investor: The Definitive Book on Value Investing. Revised Edition,
with commentary by Jason Zweig, HarperBusiness, 2006.