Novo Nordisk to cut 9,000 jobs
Welcome back. Shares of Novo Nordisk up as much as 4% pre-market, but since pairing those gains after the company announced it will cut 9,000 jobs or more than 11% of its workforce. Novo shares were higher today, but down more than 60% from their all-time high back in June 2024.Bernstein sees light at the end of the tunnel. It upgraded Novo to an outperformer with a price target indicating more than 50% upside, writing, quote, "The obesity growth engine is now underappreciated." I mean the fall from grace f ...