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☆ Digital health company Noom to offer compounded GLP-1 drug through new weight loss program
▼ + stars: | 2024-09-12 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +5 min

Digital health company Noom on Thursday announced it will offer a compounded GLP-1 drug as part of a new weight loss product that starts at $149. Noom has offered weight loss programs for years, and consumers can already try to access those branded medications through its platform. Compounded GLP-1 medications are typically much cheaper than their branded counterparts. Most insurance plans cover GLP-1s when they are used to treat diabetes, but coverage of the weight loss drugs is less widespread. Consumers can get started with the Noom GLP-1 RX program by filling out an intake form on the website.

Persons: Wegovy, Noom, Geoff Cook, Cook, Dr, Adonis Saremi, They'll Organizations: CNBC, U.S . Food, Drug Administration, FDA Locations: U.S, United States

☆ This government-backed startup is growing blood to help fight shortages
▼ + stars: | 2024-09-11 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Last month, the American Red Cross declared an emergency blood shortage after its national supply fell by more than 25% in July. Shortages can be dire for patients since doctors have to make tough decisions about who needs blood transfusions the most. McConnell is CEO of a four-year-old startup called Safi Biotherapeutics, which is working to manufacture inexpensive red blood cells at scale. Scientists have already discovered how to grow red blood cells from stem cells, but it's a costly and complex process that typically yields small amounts at a time. Safi's goal is to build on these advancements and produce large quantities of blood that could eventually be used commercially to help care for patients and avoid blood shortages.

Persons: Doug McConnell, McConnell, Safi Organizations: Red Cross, Cross, U.S, Safi, CNBC, U.S . Department of Defense, J2 Ventures, U.S . Food, Drug Administration, FDA Locations: U.S

Apple is hosting an event at its headquarters in Cupertino, California, where it has unveiled new versions of the iPhone, AirPods and Apple Watch. AppleApple just unveiled the iPhone 16 Pro and the iPhone 16 Pro Max, which join the iPhone 16 and iPhone 16 Plus announced earlier. Apple’s iPhone 16 Pro has a 6.3-inch display, and the Apple 16 Pro Max has a 6.9-inch display, larger than those of previous models, which measured in at 6.1 inches and 6.7 inches, respectively. The iPhone 16. The iPhone 16 Pro starts at $999, and the Pro Max starts at $1,199, Apple said.

Persons: Max, ” Apple, —, Apple, Pro Max Organizations: Apple, Apple Watch, Apple Apple, Apple Intelligence, Pro Locations: Cupertino , California

☆ Here's everything Apple just announced: iPhone 16, iPhone 16 Pro, Apple Watch Series 10, AirPods 4 and more
▼ + stars: | 2024-09-09 | by ( Hayden Field Ashley Capoot Kif Leswing Todd Haselton | Hayden Field | Ashley Capoot | ) www.cnbc.com time to read: +2 min

Apple just unveiled the iPhone 16 Pro and the iPhone 16 Pro Max, which join the iPhone 16 and iPhone 16 Plus the company announced earlier. Apple's iPhone 16 Pro has a 6.3-inch display, and the Apple 16 Pro Max has a 6.9-inch display, larger than those of previous models, which measured in at 6.1 inches and 6.7 inches, respectively. The new models also have the "thinnest borders on any Apple product," Apple said, calling them "by far our best iPhone displays ever." The company also said the new iPhone 16 Pro Max has "the best iPhone battery life ever" but did not offer additional details. The iPhone 16 Pro starts at $999, and the Pro Max starts at $1,199, Apple said.

Persons: Max, Apple, Pro Max, — Hayden Organizations: Apple, Apple Intelligence, Pro, preorder

☆ Abbott launches its first over-the-counter continuous glucose monitor in the U.S.
▼ + stars: | 2024-09-05 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Abbott Laboratories announced Thursday its over-the-counter continuous glucose monitor Lingo is available in the U.S. starting at $49. These devices, called continuous glucose monitors, are small sensors that stick through the skin to measure real-time glucose levels. Continuous glucose monitors have served as tools for patients with diabetes, but Lingo is not intended for diabetes management. The company released its over-the-counter continuous glucose monitor geared toward this demographic in late August. The U.S. Food and Drug Administration approved Dexcom's Stelo in March, and it cleared two over-the-counter continuous glucose monitoring systems from Abbott in June.

Persons: Lingo, it's, Abbott, That's, Ben Fohner, Abbott's, Olivier Ropars, Ropars, Dexcom's Organizations: Abbott, CNBC, U.S . Food, Drug Administration, Dexcom's Stelo, Libre, Libre Rio Locations: U.S

☆ A journey inside Epic Systems' mythical and sprawling campus, a world away from Wall Street
▼ + stars: | 2024-09-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +11 min

The Oz office building on Epic's campus. Touring Epic's campus, it's clear that the company exists a universe away from Wall Street. They're clustered into mini-campuses, with names like Prairie Campus, Farm Campus, Central Park Campus, Wizards Academy Campus and Storybook Campus. Around 750 acres of Epic's campus are active farmland sprinkled with 42 sheep, 14 cows and a donkey. The campus' buildings are connected via a network of tunnels and enclosed skyways, so people don't have to step outside to travel between them.

Persons: Epic Systems Dorothy Gale, Judy Faulkner, Faulkner, Oracle's, Cerner, Epic Systems Faulkner, Harry Potter, Sherlock Holmes, Ken Glueck, Seth Hain, Epic's, Hain, " Hain Organizations: Epic Systems, Academy, Systems, Oracle, Wizards Academy Campus, skyways, Systems Employees, Academy Campus, Health, Cosmos Locations: Kansas, Verona , Wisconsin, Madison, Verona, U.S, San Francisco, Seattle, New York, Prairie, Park, Epic's

☆ Super Micro shares fall 19% on filing delay, Hindenburg Research report
▼ + stars: | 2024-08-28 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Shares of Super Micro Computer closed down 19% on Wednesday, after the company announced it would not file its annual report for the fiscal year with the U.S. Securities and Exchange Commission on time. "SMCI is unable to file its Annual Report within the prescribed time period without unreasonable effort or expense," the company said in a release. Super Micro makes computers that companies use as servers for websites, data storage and other applications, including artificial intelligence algorithms. CNBC could not independently verify Hindenburg's claims. It is unclear if the delay in Super Micro's annual report is related to Hindenburg's findings.

Persons: SMCI, Hindenburg, — CNBC's Michael Bloom Organizations: Micro, U.S . Securities, Exchange Commission, Nvidia, AMD, Intel, Hindenburg Research, CNBC, JPMorgan, SEC

☆ Snowflake shares sink 14% on decelerating product revenue growth
▼ + stars: | 2024-08-22 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Shares of Snowflake closed down more than 14% on Thursday after the data cloud analytics company released fiscal second-quarter 2025 earnings that beat Wall Street's estimates but showed decelerating product revenue growth compared to past quarters. The company reported $829.3 million in product revenue, which accounts for most of Snowflake's sales, up 30% year over year. They said the company's smaller product revenue beat and deceleration in growth will not inspire weary investors. "A 2% product revenue beat in Q2, down from 5% in Q1, with product revenue growth dipping further to 29.5% YoY," likely sows "enough doubt in the investor conversation to keep shares under pressure in the near-term," the analysts wrote in a note Thursday. "True, 30% y/y product growth is slower than the 33-34% level we saw the past 2 quarters.

Persons: Sridhar Ramaswamy, Morgan Stanley, Snowflake's, — CNBC's Michael Bloom Organizations: LSEG, Barclays Locations: Toronto

☆ Epic Systems is building more than 100 new AI features for doctors and patients. Here's what's coming
▼ + stars: | 2024-08-21 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +5 min

Epic is a health-care software giant whose technology is used in thousands of U.S. hospitals and clinics. And one theme stood out during the health-care company's event on Tuesday: How new artificial intelligence features can help doctors and patients. Faulkner said the company has more than 100 AI features in the works, though many of the tools are still in the early stages of development. Doctors will be able to use AI to automatically queue up orders for prescriptions and labs, the company said. He spoke to an AI agent through the MyChart app about his recovery after a supposed wrist surgery and answered questions about his pain.

Persons: Oz, Faulkner, Jensen, Judy Faulkner, Seth Hain, Hain, . Hain, pickleball Organizations: CNBC, Nvidia, Epic Locations: Verona , Wisconsin, U.S

The direct-to-consumer health-care startup Ro launched a new free tool Tuesday to help patients determine whether their insurance covers a buzzy class of weight loss and diabetes drugs called GLP-1s. Ro said nearly half of the company's patients have some form of insurance coverage for a GLP-1, according to its customer data. Ro said it hopes its new tool can help patients understand their coverage options so they can decide how to pursue weight loss. The digital health company may benefit too, as it could drive some patients to join the company's GLP-1 program. It includes 24/7 messaging, one-on-one coaching with nurses and help with navigating insurance coverage.

Persons: Ro, Zachariah Reitano Organizations: Novo Nordisk, CNBC Locations: U.S

The first round of Medicare drug price negotiations has come to an end – but we still don't know the final prices that the U.S. government and pharmaceutical companies have agreed on. They all maintain that Medicare drug price negotiations are a long-term threat to the pharmaceutical industry's drug innovation and profits, but the immediate dust has somewhat settled. That's based on executive commentary during the recent quarterly earnings calls of Bristol Myers Squibb and Johnson & Johnson , among other companies. Novartis CEO Vasant Narasimhan said on July 18 that the short-term impact from Medicare drug price negotiations "might be manageable on our first set of drugs." Executives at each of the drugmakers similarly emphasized their opposition to Medicare drug price negotiations on their respective earnings calls.

Persons: Joe Biden, Johnson, Joe Biden's, Christopher Boerner, Bristol Myers, Robert Michael, We've, Michael, Jennifer Taubert, Vasant Narasimhan, Narasimhan, Bristol Myers Squibb's Boerner, Boehringer Ingelheim, Annika Organizations: National Institutes of Health, Medicare, Bristol Myers Squibb, Johnson, Pfizer, J, Novartis, Merck, Novo Nordisk, AstraZeneca Locations: Bethesda , Maryland, U.S, annikakim.constantino@nbcuni.com

☆ Meta shares pop 6% on earnings beat, rosy revenue forecast
▼ + stars: | 2024-08-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Meta shares jumped 6% on Thursday after the company reported second-quarter earnings that beat Wall Street's expectations and offered a rosy revenue forecast. Revenue in the period increased 22% to $39.07 billion from $32 billion a year earlier, Meta said late Wednesday. The analysts note that Meta's capital expenditures are increasing because of AI infrastructure spend, but it is driving "tangible business results." There are also newer generative AI products that have the potential to open revenue opportunities over multiple years, they said. Barclays analysts wrote in a note Wednesday that Meta is executing at "arguably the best pace of any company in digital advertising."

Persons: Meta, Mark Zuckerberg, Susan Li, Zuckerberg, Baird, capex, — CNBC's Michael Bloom, Jonathan Vanian Organizations: Meta, Bank of America, Barclays

☆ DoorDash shares pop 13% on second-quarter revenue beat
▼ + stars: | 2024-08-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

A DoorDash driver on an electric bicycle wearing a cooler backpack with the skyline of San Francisco in the background. Shares of DoorDash popped 13% in extended trading on Thursday after the company reported second-quarter results that beat analysts' expectations for revenue. It narrowed its net loss to $157 million, or a loss of 38 cents per share, from $170 million, or a loss of 44 cents per share, during the same period last year. The delivery service company said it received 635 million total orders in the quarter, up 19% year over year. For its third quarter, DoorDash said it expects to report Marketplace GOV between $19.4 billion and $19.8 billion.

Persons: DoorDash Locations: San Francisco

☆ Your health records are coming to new apps. Here's why
▼ + stars: | 2024-08-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

It's about to get a lot easier for patients in the U.S. to access their own medical records. Health-care software vendor Epic Systems on Thursday announced that individuals will be able to securely release their health data to different apps they choose to use, meaning they will have more direct control over their medical information than ever before. For instance, if patients are using a health coaching app or an app that reminds them to take their medicine, they can choose to import their records directly into those platforms. It launched in December, and aims to iron out both the legal and technical requirements for sharing patients' data at scale. If one person uses Verizon as their phone carrier, a second person uses AT&T and a third person uses T-Mobile, they are all still able to call and text one another.

Persons: hasn't, TEFCA, Micky Tripathi, Tripathi Organizations: Systems, U.S . Department of Health, Human Services, HHS, Verizon, Mobile, CNBC Locations: U.S

☆ 23andMe CEO Anne Wojcicki files proposal to take company private as stock craters
▼ + stars: | 2024-07-31 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Anne Wojcicki, CEO of 23andMe , has submitted a proposal to take the genetic testing company private as its stock price continues to hover below $1. The proposed price of 40 cents per share reflects an 11% premium to 23andMe's closing stock price from April. 23andMe went public in 2021 via a merger with a special purpose acquisition company, which valued the company at around $3.5 billion. In November, the company received a deficiency letter from the Nasdaq Listing Qualifications Department, which said the company had 180 days to bring its share price back above $1. The Special Committee will need to approve or reject Wojcicki's proposal to take the company private, according to the filing Wednesday.

Persons: Anne Wojcicki, Wojcicki, 23andMe Organizations: U.S . Securities, Exchange Commission, Nasdaq, Department Locations: Sunnyvale , California

☆ Neuralink rival Synchron lets patients control Apple Vision Pro with their thoughts
▼ + stars: | 2024-07-30 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Neurotech startup Synchron on Tuesday announced it has connected its brain implant to Apple 's Vision Pro headset. Apple released the Vision Pro earlier this year, and users typically control it with eye movements, voice commands and hand gestures. He said Synchron will likely work to connect its BCI to other headsets, but it's starting with the Vision Pro. Apple has been "very supportive" of the Vision Pro integration, he added. Synchron is a part of an increasingly competitive BCI industry, and the company said Tuesday that it is the first to connect its system to Apple's Vision Pro.

Persons: Synchron, Thomas Oxley, Oxley, Elon Musk's, It's Organizations: BCI, U.S . Food, Drug Administration, Apple, Vision, CNBC, Neuroscience, Blackrock Neurotech Locations: U.S, Australia

☆ Dexcom shares plunge more than 40%, head for worst day on record
▼ + stars: | 2024-07-26 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +4 min

Dexcom shares sank more than 40% on Friday and headed for their worst day ever after the diabetes management company reported disappointing revenue for the second quarter and offered weak guidance. The stock fell $45.38 to $62.47 as of early afternoon, wiping out about $18 billion in market cap. Prior to Friday, the biggest drop came in September 2017, when the shares plunged 33% in a day. Dexcom held its stock market debut in 2005. With Friday's selloff, Dexcom shares are down almost 50% for the year, while the S&P 500 is up 15%.

Persons: Dexcom, Kevin Sayer, we've, Sayer, JPMorgan's Robbie Marcus, Marcus, Jereme Sylvain, Sylvain, William Blair, Leerink, Stelo, Friday's Organizations: JPMorgan, U.S . Food, Drug Administration

☆ GE HealthCare taps Amazon Web Services to build generative AI for medical use
▼ + stars: | 2024-07-25 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

GE HealthCare on Thursday announced it is teaming up with Amazon Web Services to build new generative artificial intelligence models and tools that can efficiently analyze complex medical data. GE HealthCare, which offers medical imaging, ultrasound, patient care and pharmaceutical diagnostic solutions, believes generative AI can help. GE HealthCare offers its own AI tools, but its partnership with AWS will supply the company with the technical infrastructure required to quickly build generative AI models and tools at scale. GE HealthCare will use AWS' solutions like Amazon Bedrock and Amazon SageMaker, according to a release Thursday. Kass-Hout said GE HealthCare maintains rigorous testing and standards before bringing products to market, and the same will be true with the generative AI applications it develops.

Persons: Dr, Taha Kass, Kass, Hout, Matt Wood Organizations: GE, Amazon Web Services, Deloitte, GE HealthCare, AWS, CNBC

☆ Dexcom shares plummet more than 30% after company lowers fiscal year guidance
▼ + stars: | 2024-07-25 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Shares of Dexcom tumbled more than 35% in extended trading Thursday after the diabetes management company reported disappointing revenue for the second quarter and offered weak guidance. The company reported net income of $143.5 million, up from the $115.9 million it reported during the same period last year. Dexcom updated its full fiscal year guidance to reflect expected revenue between $4 billion and $4.05, which is down from the $4.20 billion to $4.35 billion it forecast last quarter. "While Dexcom advanced several key strategic initiatives in the second quarter, our execution did not meet our high standards," Dexcom CEO Kevin Sayer said in the release. In March, the company announced its new over-the-counter CGM called Stelo had been cleared for use by the U.S. Food and Drug Administration.

Persons: LSEG, Dexcom, Kevin Sayer, Stelo Organizations: LSEG Revenue, U.S . Food, Drug Administration

☆ Republican representatives call on CrowdStrike CEO George Kurtz to testify
▼ + stars: | 2024-07-22 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Republican representatives on Monday called on CrowdStrike CEO George Kurtz to testify in front of the House Committee on Homeland Security, days after the company issued a faulty software update that crashed millions of Microsoft Windows devices. The outage caused disruptions across "key functions" of the global economy, including banking, aviation, health care, emergency services and media, the lawmakers said. Kurtz said Friday that the outage was not a cyberattack or security incident, and CrowdStrike deployed a fix that day. Green and Garbarino asked CrowdStrike to set up a hearing with the Subcommittee on Cybersecurity and Infrastructure Protection by Wednesday at the latest. CrowdStrike and Microsoft did not immediately respond to CNBC's request for comment.

Persons: George Kurtz, Mark Green, Andrew Garbarino, Garbarino, Kurtz, CrowdStrike Organizations: Microsoft Corp, Homeland Security, Microsoft, Protection Locations: New Delhi, India, U.S

☆ Brain implant patient says OpenAI's tech helps him communicate with family
▼ + stars: | 2024-07-16 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Mark using Synchron's BCI Courtesy: SynchronA 64-year-old named Mark has spent the last year learning how to control devices like his laptop and phone using a brain implant. Mark, who asked CNBC not to use his last name for privacy reasons, was implanted with Synchron's BCI in August 2023. H/O: Synchron's AI-Powered chat feature Courtesy: SynchronMark has been testing Synchron's new chat feature intermittently over the last two months. For instance, Mark can use the chat feature to schedule an appointment with his doctor and keep up with his daughters. Oxley said Synchron is still working to roll out the new chat feature, but Mark has helped pioneer it.

Persons: Mark, OpenAI, it's, Synchron, I've, Thomas Oxley, Oxley Organizations: BCI, CNBC, Synchron's BCI

☆ Inside the $43 million Veterans Affairs simulation hospital where doctors are piloting new tech
▼ + stars: | 2024-07-13 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +6 min

An operating room at SimVET Courtesy: SimVETInside a sprawling $43 million Veterans Affairs facility equipped with operating rooms, intensive care units and an outpatient clinic, there are no patients. The SimVET facility in Orlando, Florida Courtesy: SimVETThe Veterans Health Administration services 9 million veterans in 172 medical centers across the U.S. Each medical center has a simulation program, and some have a dedicated space on site. "We have two fully staffed operating rooms, all the equipment you would normally use: lights, booms, real anesthesia machines. A mannequin at the SimVET facility Courtesy: SimVETBeyond its unusual patients, SimVET is home to many familiar-looking health-care scenes. Fluorescent lights line a long hallway full of exam rooms, and operating rooms stuffed with machinery look like they were plucked straight from a nearby hospital.

Persons: it's, Scott Wiltz, SimVET, Wiltz, SimVET Wiltz, Amanda Borchers, Borchers Organizations: Veterans Affairs, Orlando International Airport, National Center, CNBC, Veterans Health Administration, U.S, Research Network, SimVET, Medical Locations: Florida, SimVET, Orlando , Florida, Orlando, Lexington, Kentucky

☆ Musk says next Neuralink brain implant expected soon, despite issues with the first patient
▼ + stars: | 2024-07-10 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Elon Musk said Wednesday that his brain tech startup Neuralink hopes to implant its system in a second human patient within "the next week or so." No BCI company has received approval from the U.S. Food and Drug Administration to commercialize their devices. In a livestream with Neuralink executives Wednesday, Musk said the company is hoping to implant its device in the "high single digits" of patients this year. However, in the weeks following the procedure, Neuralink said some threads from the implant retracted from Arbaugh's brain. Musk and the Neuralink executives said during Wednesday's livestream that only around 15% of the channels in Arbaugh's implant are functional.

Persons: Elon Musk, Musk, Neuralink, Noland Arbaugh, Wednesday's, DJ Seo, Matthew MacDougall Organizations: BCI, Neuroscience, U.S . Food, Drug Administration, Barrow Neurological, FDA, Wall Street, CNBC Locations: U.S, Barrow, Phoenix , Arizona, Neuralink

☆ Supreme Court punts social media moderation cases back to lower courts
▼ + stars: | 2024-07-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Chris Marchese (L), director of the NetChoice Litigation Center, looks on as Matt Schruers (C), president and CEO of the Computer & Communications Industry Association, speaks to reporters outside of the U.S. Supreme Court in Washington, D.C., on Feb. 26, 2024. The Supreme Court on Monday wiped existing rulings around two state laws that aim to prevent tech companies from banning users over potentially harmful rhetoric. The move prolongs a debate over whether Republicans will be able fight what they view as "censorship" by leading social media platforms. The Court sent the issue back to lower courts for further review, arguing that the previous rulings failed to properly explore whether the content moderation laws would be unconstitutional under all circumstances. Texas and Florida have passed legislation that Republican lawmakers claim will stop tech companies including Facebook parent Meta; X, formerly known as Twitter; and Google's YouTube from stifling conservative opinions.

Persons: Chris Marchese, Matt Schruers Organizations: NetChoice Litigation, Computer & Communications Industry Association, U.S, Supreme, Washington , D.C, Republicans, Facebook, YouTube Locations: Washington ,, Texas, Florida

☆ Cramer says the market can't broaden out due to uncertainty away from tech
▼ + stars: | 2024-06-13 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday said it's no secret that the market rally has been driven by a handful of tech stocks, and it's not likely to change anytime soon. Cramer said companies like Nvidia , Apple , Microsoft , Alphabet , Amazon , Oracle and now Broadcom have been integral to the rally. But while tech stocks have been shining, Cramer said other sectors can't quite say the same. For instance, Cramer pointed to the banks, which often serve as a bellwether for the market. It's hard to know where the market would be without the tech sector, he added.

Persons: CNBC's Jim Cramer, it's, Cramer, It's, Huntington, Hunt Organizations: Nvidia, Apple, Microsoft, Oracle, Broadcom, Federal Reserve, Trucking, Norfolk, Norfolk Southern and Union Pacific, Molson Coors, Kraft Heinz, PepsiCo Locations: Norfolk Southern

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