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Altice USA is in talks to sell the financial news streaming service Cheddar News to LA-based private equity firm Regent LP, according to people familiar with the matter. Instead, Altice USA would participate in Cheddar's future performance as part of a so-called "earn out" structure. Since then, Altice USA, the fourth-largest U.S. cable provider, behind Comcast , Charter and Cox, has looked to shed assets as its stock price has plummeted. Altice USA has also considered selling U.S. cable asset Suddenlink but dropped those plans in late 2022. The New York Times reported Altice USA was considering selling Cheddar earlier this year.
Persons: Jon Steinberg, Dexter Goei, Steinberg, Goei, Regent, Ralph Lauren, Regent didn't Organizations: USA, Regent, Altice, CNBC, Altice USA, Comcast, Cox, Sightline Media, Sunset Magazine, Time Inc, Club Monaco, New York Times Locations: LA, USA, Altice USA, U.S, Tegna
After having a great experience, we hoped to once again score upper-class tickets on the same route. For our return flight, the minimum bid was 47,000 rupees ($560) per ticket. Adding 1,000 rupees ($12) to the minimum bid each way, my husband decided to give it a shot. AdvertisementForty-eight hours before our scheduled departure, Virgin Atlantic emailed us that our bid for upper-class tickets had been accepted. However, since there's no guarantee of winning the bid, we'll always look for a good deal on business-class tickets first.
Persons: , Noor Anand Chawla, Anand Chawla, aloo, we'll Organizations: Service, Virgin, Virgin Atlantic's, Virgin Atlantic, Somerset Locations: New Delhi, London
Under an elevated subway track in Queens, Victor José Hernández was whipping up the pepitos that he had perfected at a street cart in Caracas, Venezuela. Just steps away, an Ecuadorean restaurant now displays a big Venezuelan flag and offers karaoke with Venezuelan love songs. And the line for arepas and cachapas (sweet corn cakes) spills out the door of a Venezuelan cafe. Though New York City was built on immigrant neighborhoods — Chinatown, Curry Hill, Little Italy and Little Haiti, among many others — it has never had a Venezuelan neighborhood. Historically, the city’s Venezuelan population was tiny and overshadowed by much larger Hispanic groups, including Puerto Ricans and Dominicans, immigration experts said.
Persons: Victor José Hernández Organizations: New, Puerto Ricans Locations: Queens, Caracas, Venezuela, Roosevelt, Jackson Heights, Elmhurst, Corona, Venezuelan, Little Venezuela, New York City, Curry Hill, Little Italy, Little Haiti
Kraft’s newest Mac & Cheese is ditching cheese
  + stars: | 2023-11-29 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +3 min
New York CNN —Kraft’s new Mac & Cheese is ditching the cheese and going vegan. “Curiosity is a major factor in trying plant-based foods and beverages,” Sherry Frey, vice president of Total Wellness at NIQ, told CNN. The vegan cheese sauce is made with fava bean protein and coconut oil powder, creating a sauce that has a “similar taste, look and feel to dairy-based mac and cheese,” the company told CNN. Goodles, for example, is a Gal Gadot-backed startup that sells boxed pasta with more protein and fiber at a higher price that also has a plant-based mac and cheese in its portfolio. In particular, the Kraft brand recently rolled out a makeover of its Kraft Singles cheeses that emphasizes the cheese doesn’t have artificial flavors, colors or preservatives.
Persons: New York CNN —, “ Kraft, Kraft, ” Sherry Frey, , NIQ, ” Frey, Annie’s Organizations: New, New York CNN, NotCo, Kraft, CNN, , Kraft Mac, Kraft Heinz Company Locations: New York,
Several investors mourned the passing of famed investor Charlie Munger, vice chairman of Warren Buffett's Berkshire Hathaway , on Tuesday. "So sad to hear the news of the passing of Charlie Munger," El-Erian wrote. Mario Gabelli, chairman and CEO of Connecticut-based GAMCO Investors, wrote on Twitter: "Charlie Munger ….a titan has passed …all will miss Charlie." "Charlie Munger helped build an American institution, and through his wisdom and insights, inspired a generation of leaders. "Charlie Munger was a brilliant attorney," Annandale Capital chairman George Seay said Tuesday evening on Yahoo Finance.
Persons: Charlie Munger, Warren Buffett's Berkshire Hathaway, Berkshire Hathaway, Buffett, Munger, Ariel Investments, Charles Bobrinskoy, Mohamed El, PIMCO, Erian, Mario Gabelli, Charlie Munger …, Charlie, Tim Cook, Cook, Stephanie Link, Hightower, Whitney Tilson, Tilson, George Seay, Wesley Chan, Chan, , Christina Cheddar Berk, Brian Evans, Alex Harring Organizations: Warren, Allianz, Twitter, Apple, Berkshire, Hightower Advisors, Berkshire Hathaway, CNBC, Yahoo Finance, Daily, Costco Locations: Munger, Connecticut, Berkshire, American, California, Annandale, FPV
However, he added, they remain more upbeat compared with last holiday season and should spend more on gifts this year. According to FactSet, analysts anticipate there could be upside of more than 20% ahead, based on average price targets. The e-commerce giant is JPMorgan analyst Doug Anmuth's top pick for the holiday season. "We project US e-comm penetration at 23.4% of adj retail sales this holiday season, +90bps above the 22.5% in 2022," he said. "We think beauty has the potential to be a relevant gifting solution for cash-strapped consumers during the upcoming Holiday season," he said.
Persons: Chad Lusk, Alvarez, Lusk, Martis, LSEG, Inna Kuznetsova, Doug Anmuth's, Doug McMillon, Krisztina Katai, Katai, Michael Lasser, Ulta, Lasser, ToolsGroup's Kuznetsova, Marsal's Lusk, Michael Bloom Organizations: Shoppers, CNBC, Walmart, Target, Retailers, Centric Market Intelligence, Amazon, LSEG, JPMorgan, Deutsche Bank, Costco, UBS, Fed, Black Locations: Lusk, Ulta, Wayfair, Williams, Sonoma
Fasten your mining helmet and plunge 152 meters (498 feet) below ground into a disused cavern at Llechwedd slate mine, home of the world’s deepest underground mini-golf course. Run by outdoor adventure activity company Zip World, the quarry has transformed into a thrill-seeker’s paradise. Opened in July 2022, it’s not the world’s only below-ground golf experience, but it is comfortably the deepest. Diving closer to Llechwedd’s record is the Turda Salt Mine in Romania, which stages a six-hole mini-golf venue 120 meters (394 feet) into the Transylvanian soil. Zip WorldBounce BelowBut the Llechwedd mines offer more than just mini-golf.
Persons: it’s, Trampolining, tightropes Organizations: CNN, Welsh, Caernarfon Creameries Locations: North Wales, Illinois, Romania, St Paul’s Cathedral
Veronica Dagher — Reporter at The Wall Street Journal
  + stars: | 2023-11-17 | by ( Veronica Dagher | ) www.wsj.com   time to read: 1 min
Veronica DagherVeronica Dagher is an award-winning Wall Street Journal personal finance reporter and the author of the WSJ ebook “Resilience: How 20 Ambitious Women Used Obstacles to Fuel Their Success.”Veronica hosts videos for WSJ’s Twitter account and is a regular guest on CBS, Fox Business Network, Yahoo Finance, Cheddar and other national media where she speaks about personal finance, the housing marketing and women and money. She created, hosted and produced the WSJ podcast “Secrets of Wealthy Women,” where she interviewed some of the most successful women in business, media and entertainment. Veronica is a frequent panel moderator and keynote speaker.
Persons: Veronica Dagher Veronica Dagher, Veronica Organizations: Twitter, CBS, Fox Business Network, Yahoo Finance,
Wegovy contains semaglutide, the same active ingredient in Novo's type 2 diabetes drug Ozempic. A rising tide for Eli Lilly? Though the study was specifically about Wegovy, Wall Street sees a positive readthrough for similar medications from other providers, particularly Eli Lilly 's Zepbound. Similarly, UBS analyst Trung Huynh called the weekend data a "best-case" scenario for Eli Lilly. And the positive outcomes for both in the Wegovy study can be viewed as encouraging for how Zepbound should perform, the analyst added.
Persons: Morgan Stanley, Mark Purcell, Richard Vosser, Peter Verdult, Eli Lilly, Eli Lilly's, Lilly, Andrew Baum, Trung Huynh, That's, it's, Zepbound, Huynh, Citi's Baum, James Shin isn't, Michael Bloom, Christina Cheddar Berk, Angelica Peebles Organizations: Novo Nordisk, American Heart Association, cardiologists, JPMorgan, Citi, ., UBS, North American, Tandem Diabetes Care, Deutsche Bank
At Burlington Bagel Bakery, a sign in the window advertises wages starting at $25 an hour. Cabot Creamery is bringing workers from out of state to package its signature blocks of Cheddar cheese. More than a fifth of Vermonters are 65 or older, and more than 35 percent are over 54, the age at which Americans typically begin to exit the work force. Vermont offers an early look at where the rest of the country could be headed. The baby boom population is aging out of the work force, and subsequent generations aren’t large enough to fully replace it.
Organizations: Champlain, Burlington Bagel, Central Vermont Medical Center Locations: Burlington, Cabot, Vermont
Costco sells some American brands and products that aren't commonly available in the UK. Candy brands I saw at Costco included Red Vines licorice, Mike and Ike candy, and Welch's Fruit Snacks. A five-pack of Kraft Macaroni & Cheese Dinner costs £11.19 (around $2.75 per box) on the UK website, whereas on its US website, Costco charges $18.99 for 18 boxes of around the same weight – or just over $1 per box. AdvertisementAdvertisementBrits can still get their tea fixThere were, however, plenty of British products on sale, showing how it had adapted its assortment to UK shoppers. Grace Dean/Insider; Will Martin/InsiderLike many supermarkets in the UK, Costco was keen to point out the local origins of some of its own-brand Kirkland Signature produce as consumers pay more attention to food miles and supporting domestic agriculture.
Persons: , Jerry's, Kraft, Will Martin, Candy, Red Vines, Mike, Ike, I'd, Grace Dean, Tetley, Heinz, Heinz Beanz, Jacks Organizations: Costco, Kraft, &, Service, Kraft Mac, Tesco, Asda, YouTube, Red, pretzels, San Francisco Pretzel Company, Daily, San Francisco Bay Coffee, Kraft Macaroni, Yorkshire Tea, Kirkland, Aberdeen Angus Locations: London, Puerto Rico, Canada, American, San Francisco Bay, South Croydon, Japan
Does Eli Lilly deserve to trade at a premium to Novo Nordisk shares? LLY YTD mountain Eli Lilly shares since the start of the year. According to Shin, Lilly deserves a premium to Novo Nordisk because its portfolio is more diverse and it has less exposure to insulin. NVO YTD mountain Novo Nordisk shares year to date In the coming weeks, Lilly will start rolling out Zepbound to patients. Novo Nordisk is scheduled to release the full results of its Select cardiovascular trial at the American Heart Association conference.
Persons: Eli Lilly, James Shin, Shin, Lilly, We're, Lilly's, Zepbound, Wegovy, Chris Schott, Karsten Munk Knudsen, Novo, Schott, AstraZeneca, Eccogene, David Ricks, — CNBC's Michael Bloom Organizations: Novo Nordisk, Deutsche Bank, Biotech, Pharma, Centers for Disease Control, Novo, CNBC, American Heart Association Locations: U.S, GLP, Novo, Denmarkt
AstraZeneca is the latest player to enter the weight loss drug arena, a market which some analysts have forecasted could reach $100 billion by 2030 . The GLP-1 drug market is currently dominated by two players: Novo Nordisk , which sells Type 2 diabetes treatment Ozempic and weight loss medication Wegovy, and Eli Lilly , which sells Mounjaro as a treatment for Type 2 diabetes. Lilly just had the weight loss version of its drug, Zepbound , approved by the Food and Drug Administration. It's still early days for AstraZeneca's ECC5004 drug, which is being assessed in a U.S.-based phase 1 trial involving patients with Type 2 diabetes. He currently rates AstraZeneca stock as overweight.
Persons: Eccogene, Wegovy, Eli Lilly, Lilly, It's, Colin White, James Gordon, Morgan Stanley, Mark Purcell, AstraZeneca's Farxiga, Purcell, Michael Bloom, Christina Cheddar, Berk Organizations: AstraZeneca, Novo Nordisk, Food and Drug Administration, Centers for Disease Control, UBS, Wall Street, JPMorgan Locations: U.S
Sequence gives subscribers access to GLP-1 medications such as Novo Nordisk's Wegovy and Ozempic. Schenk said the concern about the drop in WW's average revenue per user "seems overblown" and has created a buying opportunity for the stock. Stabilizing core business WW has been focused on stabilizing its core weight loss business. Both developments are a positive for WW's Sequence business. Schenk estimates that around 6 million current or lapsed WW subscribers would qualify for treatment with obesity medication.
Persons: Sima Sistani, Morgan Stanley, Lauren Schenk, Eli Lilly, Schenk, Lilly, Novo Organizations: International, Nordisk's Wegovy, FDA, 3Q, and Drug Administration, Novo Nordisk Locations: Friday's, Novo
Laos Buffalo Dairy: A mid-life crisis with a purpose
  + stars: | 2023-11-02 | by ( Katie Lockhart | ) edition.cnn.com   time to read: +8 min
Laos Buffalo Dairy, in the UNESCO-listed heritage town of Luang Prabang, is the country’s first dairy and buffalo farm. Laos Buffalo DairyVillagers around Luang Prabang travel up to two hours to bring their pregnant buffalo to the farm. Laos Buffalo DairyTraditionally, buffalo were used for plowing rice fields in Laos. Laos Buffalo DairyWhen the Laos Buffalo Dairy team first introduced their program to area farmers, it took roughly 18 months to convince them that it was a win-win idea. More than buffaloThe Laos Buffalo Dairy has created a free recipe book for locals that offers suggestions on how to incorporate buffalo milk into traditional Laotian dishes.
Persons: Laos CNN — We’ve, Susie Martin, Steven McWhirter, , Martin, Rachel O’Shea, milked, Rachel O'Shea, it’s, , , The’ve Organizations: Laos CNN, Laos Buffalo Dairy, UNESCO, Porsche, Laos Buffalo Dairy Villagers, Laos Buffalo, Buffalo Bank, World Bank Locations: Luang Prabang, Laos, Asia, Laos Buffalo, Australian, Singapore, Sri Lanka, Australia, brie, parmesan, cheddar, Prabang, Rosewood, Cambodia
The Big Cheese (Tour)
  + stars: | 2023-10-31 | by ( Alexander Lobrano | ) www.nytimes.com   time to read: +1 min
On a sunny October afternoon in the London neighborhood of Bermondsey, a cool breeze surprised me with the winy smell of apples. It brought on a sudden sharp craving for a nice chunk of Cheddar, the fruit and the cheese together being a favorite after-school snack when I was growing up in Connecticut. This was an appropriate prompt, too, since I was on my way to a very privileged lesson in British farmhouse cheeses at the beginning of an eight-day, cheese-themed trip to London and Somerset run by the specialty tour company Cheese Journeys. My destination was the empyrean address for anyone who really loves best-quality British cheeses: the aging cellars of the Neal’s Yard Dairy. This trip was also a sort of homage to my paternal grandmother, since she’d been the one who’d first pricked my curiosity about cheese with her love of crumbly black-waxed extra-sharp New York cheddar.
Persons: I’d, she’d Organizations: Somerset Locations: London, Bermondsey, Connecticut, York cheddar, Cheddar, Somerset
Novo Nordisk and Eli Lilly reign over the anti-obesity drug market, and don't expect this duopoly to end soon, analysts say. All this goes on amid robust demand for Novo's semaglutide, which is sold as Ozempic for type 2 diabetes and as Wegovy for weight loss, and Lilly's tirzepatide, which hopes to receive regulatory approval for weight loss this year. Orforglipron is an oral drug Eli Lilly is developing. It has several other compounds in the pipeline, but Suvannavejh expects the weight loss drug to receive increased attention. "This range would also be competitive with LLY's orforglipron [an oral GLP-1 drug] weight loss at day 28," Smith said.
Persons: Eli Lilly, Piper Sandler, Yasmeen Rahimi, Cantor Fitzgerald, Louise Chen, Lilly, Lilly's, Chen, Price, Kyle Rasbach, We've, Rasbach, Altimmune Altimmune, NASH, Piper's, Rahimi, Cantor's Chen, it's, Eli Lilly's Mounjaro, Goldman Sachs, Chris Shibutani, David Risinger, Risinger, Jonathan Wolleben, Wolleben, Orforglipron, Graig Suvannavejh, Suvannavejh, Thomas Smith, LLY's, Smith, Yale Jen, Jen Organizations: Novo Nordisk, Pfizer, Novo, pharma, Pfizer Pfizer, danuglipron, Therapeutics, Leerink, Mizuho Securities, Viking Therapeutics Viking Therapeutics, Laidlaw & Co Locations: Novo, GLP, Eventide
And then you overlay on top of that the emergence of two or three brand new secular growth themes," he said. CNBC Pro takes a look at the stocks he likes in three "brand new" areas of growth: obesity drugs, reshoring and artificial intelligence. Reshoring infrastructure Ayer sees bright spots in the reshoring theme too. The portfolio manager named tech giant Amazon as a good play of the AI wave. The way Ayer sees it, more companies in the U.S. are foraying into AI right now, compared to those in other parts of the world.
Persons: Sanjay Ayer, Ayer, He's bullish, , Christina Cheddar Berk, Carmen Reinicke, Julie Coleman Organizations: CNBC Pro, WCM Investment Management, Equity Fund, Nordisk, Novo Nordisk, U.S . Food, Drug Administration, Tetra Tech, Canadian, Canadian Pacific, U.S Locations: U.S, China, Japan, India
Most analysts predict the market for new weight loss drugs like Wegovy and Mounjaro will be enormous, but estimates vary for its exact size depending on who you ask. On Monday, Citi raised its estimate for incretin drug sales to $71 billion by 2035, up from its prior estimate of $55 billion. Last month, the firm made a case for there being a $150 billion to $200 billion opportunity for these drugs. At the moment, private insurance coverage isn't a guarantee for those seeking weight loss treatment, and the federal Medicare program doesn't cover weight loss drugs at all. Lilly expects the Food and Drug Administration to approve this drug to treat obesity by the end of this year.
Persons: Seamus, Fernandez, Andrew Baum, Goldman Sachs, Chris Shibutani, Shibutani, Eli Lilly, Lilly Organizations: Monday, Citi, Wegovy, Food and Drug Administration Locations: GLP
One of the downsides of taking new anti-obesity medications is that patients tend to lose lean muscle mass along with body fat. "This is a major shortcoming in terms of not just quality of life for the patients who have to lose lean muscle mass, but there's actually room to improve on the weight loss and there [are] other metabolic benefits to improving your lean muscle mass ... [including] you might have better durability of weight loss." The drug is being tested in a phase 2b study alongside semaglutide to protect against loss of muscle mass. Until then, patients will need to watch what they eat and focus on exercise just as they would on any other weight loss regimen. When that occurs, muscle loss will be an even bigger issue than it is now.
Persons: Piper Sandler, Allison Bratzel, there's, Bratzel, Versanis, Eli Lilly, Eli Lilly's Mounjaro, they're, Lydia Alexander, Alexander, Sandler's Bratzel, incretins, Biohaven, Nestle, Ulf Mark Schneider, Jeff Jonas, Jonas, Stephens, Jim Salera, Atkins, Morgan Stanley, — CNBC's Michael Bloom Organizations: Wall, Nordisk's Ozempic, Obesity Medicine Association, Bristol Myers Squibb, Nestle, Gabelli, Quest, Foods Locations: Swiss
Developments surrounding the drugs, also popularly used for weight loss, have been disrupting anything from owners of dialysis centers to bariatric surgery providers and the food industry. But one investment advisor, Brian Krawez, president of Scharf Investments, says there are opportunities. "Many investors are concerned about the impacts of the GLP-1 drugs on a host of companies ranging from restaurants to consumer staples. Those mechanisms are the ones that help patients taking the drugs to lose weight and regulate their diabetes. They got roughly 35% market share, but a lot of people don't know the company," he said, adding that specialty pharmaceuticals — including the GLP-1 drugs —account for roughly 35% of the company's earnings.
Persons: Brian Krawez, Scharf, Mounjaro, Krawez, CNBC's, McKesson, It's, , Christina Cheddar Berk, Julie Coleman Organizations: Scharf Investments, CNBC, Novo Nordisk, Walmart, Unilever, Unilever isn't Locations: GLP, U.S
Planet Fitness shares could soar as new weight loss drugs become popular and users flock to the gym, according to Evercore ISI. Shares of Planet Fitness have dropped about 30% in 2023, plunging 16% in a single day last month when the company announced the surprise ousting of CEO Chris Rondeau . Although GLP-1 drugs aid weight loss by suppressing appetite, it's still essential for patients to adopt healthy habits for long-term success. This is a positive development for Planet Fitness, resulting in a rush of new gym memberships, Cheng said. He estimated that one million new members would amount to roughly 15% upside in earnings per share for Planet Fitness by 2025.
Persons: Warren Cheng, Evercore, Chris Rondeau, Cheng, Citi's Peter Verdult, , Christina Cheddar, Berk, Michael Bloom Organizations: Fitness, ISI, GLP, Planet Fitness, Planet
Medical device stocks of all kinds were pummeled over the past week as investors tried to calculate the ripple effects of new weight loss drugs. While the use of the GLP-1 drugs to treat obesity is still very limited at this point, it is expected to soar to a $100 billion market or more, by some estimates. Judging by the momentum in the stocks, investors have been betting that as people lose weight, there will be a decline in knee replacement surgery. A case for more knee surgery? Based on Truist's polling of 50 hospital administrators, the analyst expects the third quarter will show a slowing pace of knee replacement surgeries compared to the first half of 2023.
Persons: We've, Bill Sutherland, Piper Sandler, Matt O'Brien, Stryker, Eli Lilly's Mounjaro, O'Brien, Richard Newitter, Newitter, Benchmark's Sutherland, Kaiser, Sutherland, — CNBC's Michael Bloom Organizations: American College of, Nordisk's Ozempic, Stryker, Surgery Partners, Permanente, Tenet Healthcare, Partners Locations: U.S, GLP
How GLP-1 drugs work Sorting through the facts reveals some likely winners and losers. LLY YTD mountain Eli Lilly shares year to date performance It is still early days for GLP-1 medications. Many have seen the rise of GLP-1 drugs as a threat to the medical device industry. Also, not all patients are able to tolerate GLP-1 drugs, which can cause side effects such as nausea. Among other medtech stocks, Plovanic sees GLP-1 drugs as an "incremental positive" for Dexcom, which makes continuous glucose monitors (CGMs), but an "incremental negative" for insulin pump makers like Insulet.
Persons: Insulet, Medtronic, Dexcom, BAX, NASH, Eli Lilly, Peter Verdult, Lilly, Eli Lilly aren't, Piper Sandler, Wegovy, Yasmeen Rahimi, Robbie Marcus, Marcus, hasn't, Baxter, David Low doesn't, William Plovanic, Craig Wong, Pan, Plovanic, Matt O'Brien, O'Brien, Rippling, Simeon Gutman, Morgan Stanley, Gutman, — CNBC's Michael Bloom Organizations: Novo Nordisk, Baxter International, Baxter, GLP, Citi, Novo, Bank of America, Viking Therapeutics, Pharmaceuticals, Pfizer, Amgen, Companies, Fisher, Reuters, Inspire, Systems, JPMorgan, RBC Capital, Walmart, underperformance Locations: GLP, U.S, DaVita, ResMed
The eye-popping predictions for weight loss drug sales hinge on insurance companies agreeing to provide coverage of the pricey treatments, and momentum seems to be building on that front. The drugs include Novo Nordisk's semaglutide, which is sold as Ozempic for diabetes management and as Wegovy for weight loss. Unlike earlier generations of weight loss medicines, their side effects have been largely mild and included diarrhea, constipation and nausea. Higher hospital labor costs as well as GLP-1 medications are contributing to the biggest jump in health insurance costs since 2012, Lutz said. But those numbers will grow, especially as ongoing research continues to make the case for benefits beyond blood sugar control and weight loss.
Persons: Allen Lutz, Lutz, Lutz's, Savanta, Accolade, Eli Lilly, Mercer, Willis Towers Watson, Peter Verdult, Verdult, — CNBC's Michael Bloom Organizations: Bank of America, Accolade, Novo Nordisk's semaglutide, Food, Drug Administration, Citi, Nordisk, Centers for Disease Control Locations: U.S
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