Stock Movers Novo Nordisk Falls, Daimler Truck Down, IHG Rises
Sep 26, 2025
Novo Nordisk faced a sharp decline after new pharma tariffs were announced, heavily impacting its stock despite European peers mostly holding steady. Daimler Truck stocks dropped following news of a proposed 25% duty on heavy truck imports. In contrast, InterContinental Hotels saw a surge after receiving a double upgrade from JPMorgan, signaling a positive outlook as travel demand rebounds. The hosts dive into the implications of these tariff changes and the differing effects on various sectors.
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Pharma Tariff Hits Specific Names
- Donald Trump announced a 100% tariff on branded pharmaceuticals with exemptions for companies building US manufacturing facilities.
- Markets are parsing which drugmakers (like Novo Nordisk) are uniquely exposed based on where key ingredients and drugs are made.
Manufacturing Moves Can Mitigate Tariff Risk
- Companies that have announced US manufacturing investments, like AstraZeneca and GSK, saw less downside because they may qualify for the tariff exemption.
- Lack of clarity on implementation (stacking with other deals, what counts as 'broken ground') keeps market reactions uneven.
Truck Tariff Spurs Sector Divergence
- Trump also announced a 25% tariff on big truck imports effective October 1, creating near-term uncertainty for truck makers.
- Divergent stock moves (Daimler Truck down, Volvo up) reflect differences in US manufacturing footprints and unclear implementation details.