Ozempic Parent Announces 9,000 Job Cuts in Restructuring Plan

Core Insights - Novo Nordisk A/S is undergoing significant restructuring, announcing approximately 9,000 job cuts and a reduction in its full-year guidance, aiming to save $1.3 billion annually due to increased competition in the market [1] Stock Performance - BMO Securities maintained a "market perform" rating, while Bernstein Securities upgraded the stock to "outperform," highlighting growth potential [2] - The stock price of Novo Nordisk was up 1.1% to $54.92, recovering from a nearly four-year low of $45.05, but faced resistance at the 40-day moving average [2] - Year-to-date, the stock has declined by 36.2% [2] Options Activity - There has been a notable increase in call options trading, with a 50-day call/put volume ratio of 4.17, ranking higher than 98% of readings from the past year [3] - So far today, 16,000 calls have been traded compared to 5,367 puts, with the highest activity at the December 65 call [3] Volatility Expectations - The options are currently reasonably priced, with Novo Nordisk's Schaeffer's Volatility Index (SVI) at 41%, indicating low volatility expectations as it sits in the low 15th percentile of its annual range [4]