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Novo Nordisk Plunges, Palo Alto Falls, Union Pacific to Buy Norfolk Southern | Stock Movers
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July 29, 2025
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July 29, 2025
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2:42Now PlayingOn this edition of Stock Movers:
- Novo Nordisk (NVO) shares close down 23%, erasing more than $73 billion in market value, after the maker of Wegovy and Ozempic cut its sales and profit forecasts, citing slumping sales of weight-loss drugs. The Danish drugmaker also named a company insider as its new CEO, which one investor said may disappoint those hoping for a radical shake-up under an external hire. It was the stock’s steepest one-day drop on record and took the shares to the lowest level since March 2022.
- Palo Alto Networks (PANW) shares fell after the Wall Street Journal reported that the company is in talks to buy CyberArk Software Ltd. (CYBR) in a deal that could value the Israeli cybersecurity firm at more than $20 billion. Palo Alto Networks may finalize a deal as soon as this week, the Journal reported Tuesday, citing people familiar with the matter whom it didn’t identify. CyberArk declined to comment. Palo Alto Networks didn’t respond to a request for comment.
- Union Pacific (UNP) shares are down today. The company agreed to acquire Norfolk Southern Corp. (NSC) in a $72 billion cash-and-stock transaction, forming the only US transcontinental railroad in what stands to be the industry’s largest deal ever. The tie-up will marry Union Pacific’s network across the western US with Norfolk’s East Coast routes, reshaping a domestic rail market that’s now comprised of just a half-dozen companies. Observers predict other major deals could follow, as competitive pressure rises on rivals including CSX Corp. and Berkshire Hathaway Inc.’s BNSF. “We think the political environment is accommodating,” Union Pacific Chief Executive Officer Jim Vena said Tuesday in an interview. The companies have already spoken with regulators, members of the Trump administration and congressional lawmakers. “We wouldn’t have taken this path if we had not engaged and understood what they needed to see us deliver and whether we could.”
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Novo Nordisk Plunges, Palo Alto Falls, Union Pacific to Buy Norfolk Southern
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