business

J. Edward Moreno

2/5/25

Novo Nordisk gains because of its weight-loss drugs

Novo Nordisk rose in early trading after it reported better-than-expected earnings propped up by even more growth in its weight-loss drugs.

The company reported $3.9 billion in net income in the last quarter of 2024, compared to the $3.6 billion analysts polled by FactSet were expecting. That was largely thanks to growth in sales of Wegovy, one of its two weight-loss medications that have exploded in popularity.

Novo Nordisk sells two brand names of semaglutide, a GLP-1 drug often used for weight loss: Ozempic, which is typically prescribed for diabetes, and Wegovy, which is prescribed for broader use. Ozempic, which has been around longer, saw sales moderate and only grew by about 7% year over year. Sales of Wegovy doubled during the same period.

The growth in Wegovy is a welcome sign for investors, who have been worried that Eli Lilly’s weight-loss drugs, Mounjaro and Zepbound, would eat into its market share. Novo Nordisk also said it was getting closer to releasing an oral version of semaglutide.

“The story continues to be about market expansion for obesity,” David Moore, president of Novo Nordisk’s US business, told analysts on Wednesday morning.

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News Details

Novo Nordisk sells two brand names of semaglutide, a GLP-1 drug often used for weight loss: Ozempic, which is typically prescribed for diabetes, and Wegovy, which is prescribed for broader use. Ozempic, which has been around longer, saw sales moderate and only grew by about 7% year over year. Sales of Wegovy doubled during the same period.

The growth in Wegovy is a welcome sign for investors, who have been worried that Eli Lilly’s weight-loss drugs, Mounjaro and Zepbound, would eat into its market share. Novo Nordisk also said it was getting closer to releasing an oral version of semaglutide.

“The story continues to be about market expansion for obesity,” David Moore, president of Novo Nordisk’s US business, told analysts on Wednesday morning.

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Amazon is testing adding GM electric vans to its EV delivery fleet dominated by Rivian

Rivian may have some competition in its electric delivery van division: Bloomberg reports that Amazon is testing a small number of GM’s BrightDrop vans for its fleet.

According to Amazon, the test currently only includes a dozen of the vehicles. Amazon’s fleet also contains EVs from Ford, Stellantis, and Mercedes-Benz.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

Amazon Tests GM EV Delivery Vans in Bid to Meet Climate Goals

Amazon Tests GM EV Delivery Vans in Bid to Meet Climate Goals

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

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Shake Shack is launching a French onion soup... burger

The fast-casual chain will be hoping premium upsells can fatten up its profit margins.

Shake Shack French onion soup burger

business

9/11/25

Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

Exclusive | Paramount Skydance Prepares Ellison-Backed Bid for Warner Bros. Discovery

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

As tariffs take root, August new vehicle prices climb by the most in more than 2 years

According to data from Cox Automotive, 17 vehicle brands raised prices of their new vehicles by more than 3% in August.

Ford Issues Recalls On Some Of Its Mach-E Mustangs And Aviators

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