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Top Stock Picks for Week of April 10, 2023

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Novo Nordisk (NVO - Free Report) is a global healthcare company and a leader in the worldwide diabetes market with a full portfolio of GLP-1 receptor agonists, modern insulins and human insulins. Novo Nordisk has one of the broadest diabetes portfolios in the industry. Ozempic and Rybelsus have been performing well in the market. Drug sales have been gaining and maintaining momentum. Label expansion of the existing drugs is likely to further boost sales. Ozempic is off to a solid start since its launch and will drive growth for the company. The launch of Rybelsus also looks impressive. The supply issues with Wegovy have been resolved. The company has been diversifying its efforts to develop new treatments, which is encouraging. Shares of Novo Nordisk have outperformed the industry in the past year. In terms of earnings estimate revisions for Novo Nordisk, the Zacks Consensus Estimate for the current year has increased over the past month. 

Baidu, Inc., (BIDU - Free Report) formerly Baidu.com, Inc. is a Chinese-language Internet search provider and is based in Beijing, BIDU boasts a Zacks Rank #1 (Strong Buy), indicating upward trending earnings revisions. Earnings are expected to jump 46% YoY.  BIDU is a critical piece of China’s technology infrastructure. The company invests heavily in innovation and is a leader in AI technology. Baidu introduced its AI-powered chatbot called Ernie Bot, which is capable of solving mathematics queries, responding to questions regarding Chinese literature, and generating images and videos. Further, the chatbot has the ability to generate audio in different Chinese dialects. It is also fluent in Chinese idioms and holds expertise in business writing.


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