. >>> novartis will hold a meeting today over the spinoff of the generic drugs unit next month.f shareholders approve the move, it will be largest company on the swiss exchange. the board of directors has endorsed the propose the al. as i said, this is a meeting that is kicking off. this is a long awaited spinoff for the company. novartis is looking on advanced medicine. >> i thought the spinoff had already happened. >> it has been in the works for a while. >> they have been segmenting their earnings. also, as you have and i have spoken in the past, they have been big on the restructuring and spinning off is a key focus. >> a bit of the tick the box exercise today. we will keep an eye on it. >>> we are going to take a break. coming up on the show, a.r.m. reaching higher pre market in the new york debut. gin t dail xt. >>> welcome back to "street signs." we will dive into a.r.m. the latest in trade of the new listing. you can see pre-market, we are up another 9%. this after the blockbuster debut yesterday. this stock surged 25% in thursday's trade sending the market cap to $68 bi

it does seem that novartis, the weight loss drug, now it is that.ou are leading the way with that. tom: not sure if the weight loss story is entirely in your ballpark, but it is also aspirational tucson. celebrities in the u.s. and elsewhere have jumped on the bandwagon. is there a linkage between the two? if not, the margin story around luxury, will they have to give up some of that margin? andrea: what they may lose is the pricing power. they have put all the prices up. you get to a point where even wealthy people say i am not sure i want to spend $10,000 on a chanel handbag. i can but i am not sure i want to. the pricing, they will not have the ability to lift prices. luxury is all about selling exclusivity to the masses. it is -- if that is the same as the weight loss drug, there could be a link. alix: possible, depends on how much insurance covers. appreciate it. coming up, are tech and luxury on sale? we dive deeper. this is bloomberg. ♪ >> they have started to break it down on a relative basis. tech he before the rest of the market, back in j

novartis has released sandoz first quarter results of $4.8 billion and net sales for 2023.ow in today's street smart, we are talking novo nordisk. it has taken over lvmh in market cap after releasing wegovy in the u.s. it made the highly sought after drawing in the uk as part of the con the ttrolled launch. this success of the drug has valued the company with a gain of 41% this year alone. there are still new things to talk about and i kickoff looking at the laust month with the shares up 20%. the leg higher coming from the select study and highly anticipated study in august and showed the drug leads to weight loss, but releases cardio events by 21%. speaking to analysts and investors, the rally of nearly 20% is a combination of earnings increases and genuine buying and short covering. the investor community was divided into the results if they would be so positive or not. this march higher is a short covering and fundamental buying. >> and what has happened in the last couple months is factored into the price with the drugs rolling out in europe and uk and our dot-com team

we are also watching shares of novartis and whether the spinoff the generics business to a separate companys is approved, the spinoff which is backed by the board of directors would follow moves by pfizer who sold off patent medication divisions to focus on higher value treatments. >>> apple set to issue an update for the iphone 12 in france to treat radiation risks linked to the iphone 12. apple told staff members to avoid volunteering information to members. >>> coming up here on "worldwide exchange," we have theone word that every investor needs to know today and why our next guest says the dramatic drop could be looming for the final three months of trading this year. more on "worldwide exchange" companies after this. (woman) what if my type 2 diabetes takes over? what if all i do isn't enough? or what if i can do diabetes differently? (vo) now you can with once-weekly mounjaro. mounjaro helps your body... ...regulate blood sugar... ...and mounjaro... ...can help decrease how much food you eat. 3 out of 4 people reached an a1c of less than 7%. plus people taking mounjaro... ...lost up t

tomorrow we will get sales and revenue, we have novartis vote on the sand awes spin off, what is happeningrland, the russia rate decision, then you have an eu finance ministers meeting taking place. i think maria tadeo a fantastic interview lined up there. it is going to be the french finance minister and he is going to be talking to us i think probably around 3:00 p.m. u.k. time tomorrow. we will be looking forward to that. today we also had u.k. data between need to digest as well. the u.k. markets showing even more last month and even bigger response last month to the interest rate rises. we have seen. we basically have seen levels in activity that we have not seen since the early stages of the pandemic. that was fairly brutal. this is according to the institution of charan surveyors, doing more with insight into the data. meet the authors behind the survey, a chief economist of the role institution. nice to see you. haven't seen you for ages. how bad is it? how bad will it become? where are we in the progressive impact that higher rates are having on the housing market? >> i think ther

dismiss the remaining articles and no is to deny the motion to dismiss and so yeses to dismiss in a novartisy. >> okay, you're looking there lt. governor and patrick residing over this and as we are learning, there were a few remaining articles to be voted on and this is a motion on the floor to dismiss yeses to dismiss the remaining articles and he has been acquitted think about on all so far as we continue to watch this moment in history for the texas legislature, they've only had two opportunities are two instances and they houston texas entire state history but articles of impeachment rotting is a state official the last time in 1917, there were convictions in those cases so far in an acquittal as we continue to watch to see how this will indeed end up and there was a little bit of drama in their as we mentioned because kim asked his wife is present and watching all of this others she can't not participate in any voting on the articles of impeachment of her husband as we continue to see exactly what will happen and this is all stemming from the texas house originally voting to impeach an