Novo Nordisk raises outlook; Duolingo stock jumps 30%

Novo Nordisk improved its annual revenue outlook, now projecting growth of up to 2% or a decline of up to 2%, compared to previous worst-case estimates of a 6% decline. The stock rose 5% on the news, though it remains far behind the performance of competitor Eli Lilly. Novo faces challenges due to a less diversified pipeline compared to Eli Lilly, particularly regarding patent expirations for its weight-loss drugs. Separately, Duolingo's stock surged 30% after reporting strong user growth. Daily active users increased by 29% in the quarter, up from 23% growth in the previous quarter. Monthly active users rose by 13%, compared to 10% previously. Analysts noted that the growth in monthly active users is more significant for long-term value as it indicates new user acquisition rather than just increased engagement from existing users.