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United Airlines — United Airlines gained 4.4%, as the broader airline space got a boost after the Justice Department sued to block JetBlue's acquisition of American Airlines. Snap — The tech company's stock gained 4.1%, adding to the 13% it gained on Monday. Dish Network -- The stock climbed 7.4% after Dish co-founder and Executive Vice President James DeFranco disclosed the purchase of 1.45 million shares. DXC Technology — Shares fell 4.5% after DXC Technology said talks of a possible acquisition of the information technology company by a financial sponsor were terminated. Bank stocks — Bank stocks fell after Fed Chair Jerome Powell suggested that rates may need to go higher for longer.
WW International — Shares of company formerly known as Weight Watchers jumped as much as 17.6% in premarket trading after announcing a deal to acquire telehealth firm Sequence. The Wall Street firm said the aircraft's weight has raised questions and led him to wonder if the design is "overly aggressive." Its price target of $39 implies 24.5% upside from Monday's close. The Wall Street firm said there is a large unmet need for resistant hypertension treatment and said Mineralys has "potential best-in-class" data. The Wall Street firm said Hensai "outshines peers, with its superior scale and margin, and its strong project pipeline."
New York CNN —WeightWatchers is getting into the booming prescription weight loss drug business. The GLP-1 agonists Sequence helps prescribe include Wegovy, Ozempic, and Rybelsus. The FDA approved Ozempic for the management of diabetes in 2017 and Wegovy for weight loss in 2021. Ozempic has gained popularity in part due to celebrities using it for weight loss. But there are many concerns with using diabetes drugs for weight loss, including high costs and shortages that are making it harder for people with diabetes to obtain the drugs.
Meta Platforms ' (META) "year of efficiency" set to continue: Bloomberg is reporting job cuts in the thousands could happen as soon as this week. WW International (WW) is higher after announcing deal to acquire the anti-obesity-focused telehealth provider Sequence. (Jim Cramer's Charitable Trust is long META, LIN, CSCO, AMZN, LLY. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWW International CEO on weight loss drugs: Still critical you make the right lifestyle changesCNBC's Meg Tirrell talks with Sima Sistani, WW International CEO, on 'Closing Bell: Overtime' to discuss the company's stock surge after announcing it had acquired Sequence, a telehealth platform that helps treat obesity.
Shares of WW International , also known as WeightWatchers, skyrocketed Tuesday after the company said it planned to buy Sequence, a telehealth platform that provides treatment for obesity. Shares of the company were down 57% over the past year as it struggled to pivot to wellness and move away from weight loss. Sistani took over as chief executive at the end of February, steering the company back toward weight loss messaging. The Sequence announcement comes as companies across the weight loss industry look to offer obesity medications as a pathway to customers looking to shed pounds. The trend has led to a shortage in medications like Ozempic, which are commonly prescribed for Type 2 diabetes.
The company's sales have been in a steady multiyear decline after an attempt to de-emphasize weight loss and focus on wellness failed miserably. WW 1Y mountain The parent of Weight Watchers has seen its market value shrink as sales have dropped for several years. Another drug, Eli Lilly's Mounjaro, adds a second incretin hormone to the mix and has been shown to be even more successful with weight loss. This trend could provide an opportunity for the core Weight Watchers brand and its focus on behavior modification. That scenario assumes Weight Watchers continues to see membership erosion, while cost controls help minimize margin compression.
U.S. stock futures were little changed on Monday night as traders await Federal Reserve Chair Jerome Powell's latest comments on the state of the economy. Dow Jones Industrial Average futures rose by 11 points, or 0.03%. S&P 500 futures gained 0.06%, while Nasdaq 100 futures dipped 0.06%. Economists polled by Dow Jones expect a decline of 0.4%, compared to a rise of 0.1% in the prior reading. Consumer credit data expected Tuesday afternoon is forecasted to show a rise of $22 billion in January, according to consensus estimates from Dow Jones.
WW International — Shares jumped more than 6% after WW International, also known as WeightWatchers, said it's acquiring Sequence, a subscription telehealth platform with a focus on chronic weight management, for a net purchase price of $106 million. The deal marks WeightWatchers' foray into a world of clientele who are taking chronic weight management medications, such as glucagon-like peptide 1s. Separately, WW International announced its fourth-quarter and full-year results. Earlier, a CNBC reported that Norfolk Southern is planning to make broad safety adjustments after its third train derailment. KeyCorp — Shares fell about 2% after KeyCorp issued full-year net interest income guidance that was lower than prior guidance, according to an 8-K filing on Monday.
Where the market heads next will once again depend on inflation data — especially this week's highly anticipated jobs report. No portfolio companies report earnings next week. However, with mortgage rates bouncing back in recent weeks, it remains to be seen if the strong monthly report will see any follow up. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
The seesaw-like tension between interest rates and stock prices should remain in play in the week ahead, as investors focus on comments from Federal Reserve Chairman Jerome Powell and the February employment report. There are few earnings in the week ahead, so economic data will likely be a main driver for stocks, along with the comments from Powell. The futures market is pricing in a high chance for a quarter point, or 25 basis point hike in March. Week ahead calendar Monday Earnings: WW International, ThredUp, Trip.com, Lordstown Motor, Ciena, Grindr 10:00 a.m. Initial claims 10:00 a.m. Fed Vice Chair for Supervision Michael Barr Friday Earnings: Embraer 8:30 a.m. Employment report 2:00 p.m. Federal budget
The Marcy Lab School in Brooklyn, New York, however, has created an alternative path — a one-year program to help students get lucrative tech jobs that typically go to college graduates with a four-year degree. Partnering with the business communityThe Marcy Lab School co-founders Reuben Ogbanna and Bhattacharjee-Marcantonio share ideas at the whiteboard. Tara McCurrie, CNBCThe co-founders worked with the local community to design a program to prepare students for upwardly mobile careers. "We think The Marcy Lab School can scale to thousands of students here in New York City, and potentially have impacts across the country," said Ogbonna. Overcoming degree requirementsDevonte Duncan was part of the orginal class of nine students at the Marcy Lab School in Brooklyn, New York.
Reshoring declarations are amping up, as more companies look to return operations to the United States from overseas. Corporate reshoring announcements jumped 17% in the fourth quarter compared with the prior quarter and are now tracking nearly 300% higher than the fourth quarter of 2021, according to UBS. In fact, reshoring and foreign direct investments jobs reached a record of at least 360,000 jobs last year, according to the Reshoring Initiative. The move back to the U.S . can also be seen in corporate earnings, said Ron Graziano, managing director of global accounting and tax for Credit Suisse. The company's equipment is needed for big semiconductor manufacturing plants as companies test chips as they are produced, Snyder said.
Oprah Winfrey has called out as false and fraudulent posts on social media that say she has launched or is selling Keto weight loss gummies. “TIME did not publish this article.”In October 2022, Winfrey advised social media users on her Instagram (here) and Facebook page (here “Fraud alert! Please don’t buy any weight loss gummies with my picture or name on them. There have been social media ads, emails, and fake websites going out and I want you to hear it straight from me, that I have nothing to do with them. Posts online do not show weight loss gummies officially promoted by Oprah Winfrey.
Morning Bid: Fed fillip, double trouble, triple A
  + stars: | 2023-02-02 | by ( ) www.reuters.com   time to read: +4 min
It looks less like fighting the Fed, than a mild disagreement. Powell didn't endorse that market view - which now has just one more quarter point rise to a terminal rate under 4.9% by May and 40 basis points of cuts from there by December. But he seemed ambivalent about investors' more optimistic take on disinflation and indicated the central bank was increasingly keeping its options open about a 'couple of hikes'. Meta's stock boomed as its earnings update showed stricter cost controls and a new $40 billion share buyback. With the risk around the BoE's split monetary policy council for a smaller quarter point move, it was the euro that looks set to emerge the winner of the three big central bank events.
Amazon's HR and retail bosses sent out the following emails to employees on Wednesday. In response, Amazon's HR boss Beth Galetti and most senior retail executive Doug Herrington sent out the following emails to their respective teams. I understand how difficult this news is for our entire team, especially for those employees who are directly impacted. Notification emails will be sent out to impacted employees shortly, and we expect all notifications in the U.S., Canada and Costa Rica to be completed by end of the day today. Although other companies might have balked at the short-term economics, we prioritized investing for customers and employees during these unprecedented times.
Employees were notified of the cuts in emails sent by Doug Herrington, the company's worldwide retail chief, and human resources head Beth Galetti, CNBC confirmed. Amazon's human resources and stores divisions are likely to be among the organizations most severely impacted by the job cuts. Notification emails will be sent out to impacted employees shortly, and we expect all notifications in the U.S., Canada and Costa Rica to be completed by end of the day today. Although other companies might have balked at the short-term economics, we prioritized investing for customers and employees during these unprecedented times. Conversations with impacted employees took place around the world today, and this morning, Pacific Time, notification messages were sent to all impacted employees in the U.S., Canada, and Costa Rica.
Beth Galetti, Amazon's HR boss, sent an email asking employees to show support for those affected. As Amazon embarked on the largest layoffs in company history, HR boss Beth Galetti urged employees to show support for each other. In her email, Galetti reiterated that most of the layoffs will affect the retail division (Amazon Stores) and HR (People Experience and Technology). Conversations with impacted employees took place around the world today, and this morning, Pacific Time, notification messages were sent to all impacted employees in the U.S., Canada, and Costa Rica. In other regions, we are following local processes, which may include time for consultation with employee representative bodies and possibly result in longer timelines to communicate with impacted employees.
CNN —Patty Jenkins has some things she would like to clear up. The director posted a lengthy note on social media to have her say after reports that DC FIlms (which is owned by CNN’s parent company) would not be moving ahead with a third installment of the “Wonder Woman” franchise. “It was my understanding there was nothing I could do to move anything forward at this time. Jenkins also wrote that she does not want “what has been a beautiful journey with WW to land on negative note.”“I have loved and been so honored to be the person who got to make these last two Wonder Woman films. I can attest that all of Peter and my interactions with you were only pleasant and professional.
Participants who were offered cash incentives for either pounds lost or for completing certain activities were more likely to lose weight compared with those who were simply offered tools, such as diet books, fitness trackers and access to a weight loss program, the study found. On average, participants in the goal-directed group earned $440.44, as compared to $303.56 in the outcome-based group. “Even if less weight is lost, adopting lifelong physical activity or better eating habits may be more important,” she said. Kushner, who was not involved with the new study, agreed that low-income people face extra challenges when it comes to weight loss. What’s not clear, however, is how the strategy of offering cash for weight loss could be implemented in a real-world setting, outside of academia.
WW International Inc. on Wednesday said Amy O’Keefe will step down from her role as chief financial officer effective Dec. 2, but will remain with the company through the end of the year to support the finance team. Heather Stark, a 12-year veteran of the company who most recently served as head of North American Finance, will assume the role of interim principal financial officer, the company said. Also on Wednesday, the company, also known as WeightWatchers, said Tiffany Stevenson will join the company in January and assume the role of chief people officer. Most recently, she was chief people officer of Patreon, and before that spent 12 years at Sephora, WW said. The company also appointed David Cohen as chief data officer.
Arts and craft creator Moriah Elizabeth has raised $2.5 million for her digital art startup. The app emerged from Night Labs – the same venture studio that built MrBeast Burger and Feastables. In a video introducing the platform, Elizabeth noted that upon firing up the app, Spark provides users with three creative prompts. "You're not going to make the most complicated, realistic art on here," Elizabeth explained in the video. You can check out the pitch deck that it used to raise its seed round below.
His total portfolio is worth around $1.8 million. He broke down his investment strategy for Insider and why he saw crises as opportunities. He started investing in the stock market 30 years ago and now has a portfolio worth $1.8 million, he told Insider in an interview. Schäfer told Insider about his investment strategy and how he used financial crises to his advantage. "A nice entry point is when a successful company is experiencing a problem and the stock price halves," Schäfer said.
CNN —Oprah Winfrey is warning fans against falling victim to companies selling weight loss products using her name and image. On Sunday, the 68-year-old former talk show host and media mogul took to Instagram to distance herself from gummies being sold online, saying she does not endorse edible weight loss products. In the short video, Winfrey said she felt compelled to address the online scams after being approached five times in one week by people looking for weight loss gummies. “I have nothing to do with weight loss gummies or diet pills and I don’t want you all taken advantage of by people misusing my name,” she told her 21.6 million Instagram followers. Please don’t buy any weight loss gummies with my picture or name on them.
Stern, New Jersey’s first poet laureate, died Thursday at Calvary Hospice in New York City, according to his longtime partner, Anne Marie Macari. He regarded “The One Thing in Life,” from the 1977 collection “Lucky Life,” as the poem that best defined him. Stern studied political science at the University of Pittsburgh and received a master’s in comparative literature from Columbia University. They had two children, Rachael Stern Martin and David Stern. Or get laid.”Besides Macari and his children, Stern is survived by grandchildren Dylan and Alana Stern and Rebecca and Julia Martin.
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