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With the second half of the year underway, Oppenheimer is highlighting what it calls its top small- and midcap seasonal standout investment ideas. On the basis of price charts alone, Oppenheimer tapped midcap growth stocks as its top rotation idea from a technical perspective. Oppenheimer has a $20 price target on Zeta, implying 18% upside from Tuesday's close. In a note last month, RBC Capital Markets also rated Zeta outperform with a price target of $20. In this area, Oppenheimer likes Viking Therapeutics , reiterating the stock as one of its best ideas.
Persons: Oppenheimer, Russell, Brian Schwartz, Zeta, Novo Nordisk's Wegovy, Eli Lilly's Zepbound, Jay Olson, Freshpet Organizations: Oppenheimer, Zeta Global Holdings, Zeta, RBC Capital Markets, Novo Nordisk's, Viking Therapeutics, Therapeutics Locations: Zeta, Novo
Joe Raedle | Getty ImagesAn Express Scripts spokesperson said the "prices of insulin and other medicines are set by their manufacturers, who have raised list prices repeatedly." They also create lists of medications — or formularies — that are covered by insurance and reimburse pharmacies for prescriptions. The investigation into insulin prices also examines drugmakers, but it is unclear whether they will be named in the upcoming lawsuits, Politico reported, citing people familiar with the matter. Eli Lilly , French drugmaker Sanofi and Danish pharmaceutical company Novo Nordisk control roughly 90% of the U.S. insulin market. Pharmacist Thomas Jensen looks over a prescription drug at the Rock Canyon Pharmacy in Provo, Utah, on May 9, 2019.
Persons: Lina Khan, Tom Williams, Joe Raedle, PBMs, Eli Lilly, Sanofi, Thomas Jensen, George Frey Organizations: Trade, Financial Services, General Government, CQ, Inc, Getty, Federal Trade Commission, CNBC, UnitedHealth, CVS, FTC, Politico, Novo Nordisk, Pharmacy Locations: Miami, U.S, Danish, Provo , Utah
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. KeyBanc raised its price target on the Club chipmaker's stock to $180 per share from $130. New research indicated that tirzepatide, the active ingredient in Lilly's Mounjaro for diabetes and Zepbound for weight loss leads to more weight loss than Novo Nordisk's semaglutide. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Goldman Sachs, Piper Sandler, , KeyBanc, Eli Lilly, Lilly, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Apple, Big Tech, Nvidia, Club, Blackwell, Novo Nordisk's semaglutide
Helen of Troy — The housewares stock plummeted nearly 28%, hitting a new 52-week low during the session. The company posted an earnings miss for its first quarter of fiscal 2025 before the bell, earning 99 cents per share, excluding items. Lucid — The electric vehicle company's stock added nearly 1% after rallying about 8% in the previous session. Lucid jumped after the firm said it delivered 2,394 vehicles in the second quarter, marking a 70% year-over-year increase. Tesla — Shares of the electric vehicle company popped more than 4%.
Persons: Blackwell, Helen of Troy —, FactSet, UiPath, Lucid, Eli Lilly's Mounjaro, Eli Lilly, Morgan Stanley, Corning, Yun Li, Pia Singh, Sarah Min, Darla Mercado Organizations: Nvidia, UBS, BP — U.S, Novo Nordisk, Novo Nordisk's Ozempic, Sony, Paramount, National Amusements, Skydance Media, Apollo, CNBC Locations: Novo
CNBC Daily Open: French far-right advance blocked
  + stars: | 2024-07-08 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Far-right advance thwartedFrance's left-wing New Popular Front coalition unexpectedly blocked a far-right advance in the parliamentary run-off vote, securing the largest number of seats but falling short of an absolute majority. Gox bankruptcy estate confirmed that repayments in bitcoin and bitcoin cash had commenced, likely fueling investor concerns of a massive sell-off. However, recent profit-taking and valuation concerns led to a pullback and a rare downgrade from a Wall Street analyst.
Persons: France's, Jan Hatzius, Goldman Sachs, Bitcoin, Emmanuel Papadakis Organizations: CNBC, Popular Front, Rassemblement, Nasdaq, Dow Jones, Federal Reserve, Novo Nordisk, Novo Nordisk's Ozempic, Deutsche Bank, Harvard Medical, Nvidia, Wall Locations: Europe's, U.S, Gox, bitcoin, Novo
CNN —People taking tirzepatide injections lost more weight and were more likely to reach specific weight loss targets than those taking semaglutide, according to a new study. But 82% of people taking tirzepatide reached this important clinical benchmark, compared with about 67% of those taking semaglutide. Average weight loss was also consistently higher among those taking tirzepatide over time. And by one year, average weight loss was nearly double for those taking tirzepatide — more than 11%, compared with about 6% for those taking semaglutide. According to the new study, individuals with type 2 diabetes had less significant weight loss than those without a diagnosis — but average weight loss was still greater among those taking tirzepatide.
Persons: tirzepatide, Eli Lilly, , Dr, Sanjay Gupta, CNN’s Brenda Goodman Organizations: CNN, US Food and Drug Administration, Novo Nordisk, semaglutide, FDA, CNN Health Locations: Truveta
We don't say they have a secular wind at their backs. We don't say: Apple's business is much better than we thought. They keep coming back to one main point: You can't have these companies dominate without something bad happening to the stock market. Let me present a different, factual manifesto: The companies with these amazing gains are companies that just don't stop inventing. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Eli Lilly, Joe Biden, Biden, Lilly, , Tesla, Elon Musk, Jim Cramer's, Jim Cramer, Jim Organizations: Amazon, Microsoft, Apple, Nvidia, Nasdaq, pharma, Novo Nordisk, National Football League, YouTube, Web Services, Costco, Walmart, Jim Cramer's Charitable, CNBC, Facebook, Google Locations: Lilly
Tema ETFs has been capitalizing on the risk appetite for weight loss stocks. The firm's founder and CEO Maurits Pot thinks the winning weight loss trade isn't based on just hype. "We could see a world where the majority of the world's population takes a GLP-1, not just for weight loss, but for other diseases." His top holdings include Mounjaro manufacturer Eli Lilly and Ozempic and Wegovy maker Novo Nordisk. Eli Lilly is up 57% so far this year, while Novo Nordisk is up 38%.
Persons: Maurits Pot, Pot, Eli Lilly, Ozempic Organizations: Cardiometabolic, Novo Nordisk Locations: Tema, Novo
Check out the companies making headlines in midday trading: Nvidia — Shares of the artificial intelligence darling fell 1% after a rare negative call on Wall Street . New Street Research downgraded Nvidia to hold from buy, citing limited upside given the big run already this year. Crypto stocks — Stocks tied to the cryptocurrency plummeted after the trustee for the now defunct Mt. SoftBank Group , Arm Holdings — U.S. shares of SoftBank rose 5.5% after Japanese shares hit their first record high in 24 years on Thursday. Teck Resources — The stock rose more than 2% after Bloomberg reported Thursday that Canada had approved Glencore's $6.9 billion acquisition of Teck's metallurgical coal business.
Persons: Macy's, Stocks, Energy, CleanSpark, Masayoshi, SoftBank, Nio, Zeekr, Li, Emmanuel Papadakis, Teck, Alex Harring, Jesse Pound Organizations: Nvidia, New, Research, Street Journal, Arkhouse Management, Brigade Capital Management, Marathon, SoftBank, Arm Holdings —, Reuters, Francisco Partners, KKR, , European Union, Li Auto, Novo Nordisk, Novo Nordisk's Ozempic, Deutsche Bank, Harvard Medical, Bloomberg, Getty Locations: SoftBank, Europe, Novo, Teck
The June employment report on Friday morning came in slightly better than expected with the economy adding 206,000 nonfarm jobs versus 200,000 expected. 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. Top things to watch Friday, July 5Stocks were mixed slightly Friday following another record S&P 500 th holiday. The June employment report on Friday morning came in slightly better than expected with the economy adding 206,000 nonfarm jobs versus 200,000 expected.
Persons: Eli Lilly, Jefferies, Jim Cramer's, Jim Cramer, Jim, Constellation Brands Novo Nordisk Eli Lilly Samsung Organizations: Treasury, Constellation Brands, JPMorgan, Novo Nordisk, Samsung Electronics, Jim Cramer's Charitable, CNBC, Constellation Brands Novo Nordisk, Constellation Brands Novo Nordisk Eli Lilly Samsung Electronics
Crypto stocks — Stocks tied to bitcoin price slid after the cryptocurrency dropped 5% to its lowest level since February , with the now defunct Mt. Macy's — Shares of the retailer jumped more than 6% following a Wall Street Journal report that an investor group has hiked its takeout offer. Arkhouse Management and Brigade Capital Management are now offering about $24.80 per share for Macy's, up from $24 previously, the report said. Tesla — The electric vehicle manufacturer popped 2%, marking a continuing comeback after its second-quarter vehicle deliveries number beat analyst estimates earlier this week. Shell — Shares popped 1%.
Persons: Stocks, Energy, CleanSpark, Instructure, Tesla, CNBC's Hakyung Kim, Tanaya Macheel, Sarah Min, Jesse Pound Organizations: Marathon, Francisco Partners, KKR, Reuters, Macy's, Journal, Arkhouse Management, Brigade Capital Management, Novo Nordisk —, Harvard, Novo Nordisk's Ozempic, Deutsche Bank, Shell Locations: Novo, Singapore, Rotterdam
Novo Nordisk investors appeared unperturbed Thursday by a critical Harvard report that linked weight loss drugs to a rare eye condition. Semaglutide, which is present in weight loss drugs including Novo Nordisk's Ozempic and Wegovy, might be associated with an increased risk of a rare eye disease, according to a study carried out by Harvard Medical School. Patients were more likely to be diagnosed with the eye condition compared to patients who were not prescribed the weight loss drugs, the study found. A spokesperson from Novo Nordisk said the optic nerve disease NAION is not an "adverse drug reaction for the marketed formulations of semaglutide" as per the approved labels. "Patient safety is a top priority for Novo Nordisk, and we take all reports about adverse events from use of our medicines very seriously," the spokesperson said.
Persons: Emmanuel Papadakis Organizations: Novo Nordisk, Harvard, Novo Nordisk's Ozempic, Harvard Medical School, Analysts, Deutsche Bank Locations: London
But health professionals are warning consumers not to take medical advice from the same companies trying to sell them food, supplements and other consumables. “People who are on (GLP-1 drugs) eat less calories. Daily Harvest, a meal kit service, has a GLP-1 food collection. In May it announced a new line of frozen meals called Vital Pursuit, pitching the brand to users of weight loss drugs. Some taking GLP-1 drugs have reported losing hair and muscle.
Persons: Ozempic, JP Morgan, , , Donny Kranson, GLP, Nestlé’s, Jorge Moreno, Jody Dushay, Tom Little, “ I’m, , 1nutrition.com, Atkins, Robert Atkins, Nestlé, Mark Schneider, Marie Callender’s, Slim Jim, Orville Redenbacher’s, Tom McGough, William Dietz Organizations: New, New York CNN, , Vontobel Asset Management, GNC, Nestlé, Visitors, Yale School of Medicine, Physicians, Harvard Medical School, Danone, Bloomberg, STOP, George Washington University Locations: New York, United States, Switzerland, Novo Nordisk's, Hillerod, Denmark, what’s, Conagra, GLP
Eye doctors in Boston have started to notice a small but worrisome uptick in cases of a rare type of sudden blindness among patients taking semaglutide. (Semaglutide is the active ingredient in two Novo Nordisk drugs: Ozempic for type 2 diabetes and Wegovy for obesity.) Rare, and notableThe number of patients on semaglutide who developed NAION was tiny: Out of more than 16,000 eye patients in Massachusetts included in this six-year retrospective investigation, only 37 people on semaglutide developed NAION. Patients with diabetes and high blood pressure have always been at an increased risk of developing eyesight issues. (Novo Nordisk is working on another, separate study, testing whether semaglutide might be useful in treating diabetic retinopathy.)
Persons: semaglutide, Dr, Joseph Rizzo Organizations: Service, Business, Ophthalmology, Novo Nordisk, Harvard Medical School Locations: Boston, Massachusetts, Novo, semaglutide
CNN —People who take Ozempic or Wegovy may have a higher risk of developing a rare form of blindness, a new study suggests. The condition is relatively rare — up to 10 out of 100,000 people in the general population may experience it — but the doctors noted three cases in one week, and each of those patients was taking semaglutide medications. The risk was found to be greatest within the first year of receiving a prescription for semaglutide. Semaglutide prescriptions have soared in the US, which could raise the number of people at risk for a potential side effect. But the large number of people who are taking semaglutide should raise confidence that the absolute risk of developing NAION as a result is rare.
Persons: , Joseph Rizzo, ” Susan Mollan, Disha, Dr, Sanjay Gupta, Chanapa, Andrew Lee, ” Narang Organizations: CNN —, Mass, Novo Nordisk, CNN, Harvard Medical School, , University Hospitals Birmingham, Endeavor Health, CNN Health, US Food and Drug Administration, FDA, American Academy of Ophthalmology, Houston Methodist Hospital Locations: Chicago
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEli Lilly and Novo Nordisk are ahead in manufacturing but need time to meet demand, says Louise ChenLouise Chen, Cantor Fitzgerald analyst, joins CNBC's 'Squawk Box' to discuss Eli Lilly's surge over the past year, manufacturing, and more.
Persons: Eli Lilly, Louise Chen Louise Chen, Cantor Fitzgerald, Eli Lilly's Organizations: Novo Nordisk
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow up, Nvidia sinksThe Dow Jones Industrial Average rose 260 points as investors rotated out of technology and into banking and energy stocks, such as Goldman Sachs and Chevron. He expressed concerns about potential criticism from former President Donald Trump if rate cuts occur before the election. "I suspect the market is probably more right than wrong when it says the rate cuts are likely to come after the election," he said. James Butterfill, head of research at CoinShares, attributes the sell-off to concerns over the number of rate cuts.
Persons: Dow, Goldman Sachs, David Rubenstein, Rubenstein, CNBC's Andrew Ross Sorkin, Donald Trump, Bitcoin, James Butterfill, Shein Organizations: CNBC, Nvidia, Dow Jones, Chevron, Nasdaq, Treasury, The Carlyle, Federal Reserve, Novo Nordisk Locations: Israel, Lebanon, Novo, North Carolina, Danish, London, U.S, Beijing, Singapore, China
Novo Nordisk said Tuesday that its Wegovy weight loss treatment has been approved in China for long-term weight management, opening up the blockbuster drug for sale in the world's second largest economy. China's National Medical Products Administration "recently" approved the weekly injectable drug, Novo Nordisk said in a press release on the Chinese version of its website, according to Google translate. Novo Nordisk did not immediately respond to CNBC's request for further information on the proposed pricing and rollout timeline of the drugs. The company's Ozempic diabetes drug was approved in 2021 and saw sales in the greater China region double last year. On Monday, Novo Nordisk announced it is investing $4.1 billion to expand its manufacturing in the U.S.
Persons: , Eli Lilly Organizations: Novo Nordisk, Medical Products Administration, Google, Reuters, National Health Commission, U.S Locations: China, Danish, London, Clayton , North Carolina
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer argued that the market's been too focused on the AI darling. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jim, Eli Lilly, Novo Nordisk's Wegovy, Mounjaro, Ozempic, Jim Cramer's Organizations: CNBC, Nasdaq, Nvidia, DuPont, Bloomberg, Novo Nordisk's, Club Locations: China, LLY
Check out the companies making headlines in midday trading: SolarEdge Technologies — Shares of the company tumbled more than 20% following the announcement that it will offer $300 million worth of convertible notes due 2029. — The stock plunged more than 7% after the company updated its earnings guidance for the full year on Monday after the bell. The wholesale pool supplies distributor expects full-year earnings between $11.04 and $11.44 per share. Carnival — Shares added nearly 8% after the cruise company posted a second-quarter earnings and revenue beat. Penn Entertainment — The casino operator and online gambling platform's stock fell 5% after Raymond James downgraded it to market perform from outperform.
Persons: Leslie's, LSEG, Raymond James, Enovix, Rivian, , Alex Harring, Lisa Kailai Han, Jesse Pound Organizations: U.S . Securities, Exchange, Pool Corp, Carnival, Penn Entertainment, Airbus, Nvidia —, Novo Nordisk, Guggenheim, Spirit AeroSystems, Boeing, Bloomberg Locations: Singapore, France, China
Novo Nordisk on Monday said it will spend $4.1 billion to build a new manufacturing plant in Clayton, North Carolina, in a bid to boost the supply of its blockbuster weight loss drug Wegovy, diabetes treatment Ozempic and other injectable therapies. The company said it plans to invest $6.8 billion in production this year, up from roughly $4 billion last year. Construction of the 1.4 million-square-foot facility has begun and is expected to be completed between 2027 and 2029, Novo Nordisk said. Twelve other production sites are located in Denmark, France, China, Japan, Algeria, Brazil, Iran and Russia, according to a Novo Nordisk spokesperson. Around 35,000 U.S. patients on average start Wegovy each week today, up from roughly 27,000 in May, a Novo Nordisk spokesperson said in a statement.
Persons: Doug Langa, Clayton —, Langa, Eli Lilly Organizations: Novo Nordisk, Danish, Novo Nordisk's, Drug Administration Locations: Clayton , North Carolina, U.S, Novo, North Carolina, Clayton, Durham , North Carolina, West Lebanon , New Hampshire, Denmark, France, China, Japan, Algeria, Brazil, Iran, Russia
Vials on the Wegovy line at the Novo Nordisk A/S production facilities in Hillerod, Denmark, on Friday, March 8, 2024. LONDON — Shares of Denmark's Zealand Pharma popped nearly 23% in Friday morning deals, notching a record high after an early-stage study of its weight loss drug challenger produced positive results. Petrelintide was "judged to be safe and well tolerated at all dose levels" and the results provided "robust support" for its potential as an alternative to GLP-1 receptor agonist-based therapies for weight management, Zealand Pharma said in a release. GLP-1RA-based treatments include Ozempic, the diabetes drug produced by fellow Danish pharmaceutical firm Novo Nordisk , which has exploded in popularity globally for its weight-loss effects. Soaring demand for Ozempic and obesity drug Wegovy have propelled Novo Nordisk to become Europe's most valuable company.
Persons: Petrelintide Organizations: Novo Nordisk, Denmark's Zealand Pharma, Zealand Pharma Locations: Hillerod, Denmark, Danish
Read previewWith weight-loss drugs like WeGovy and Ozempic dominating many of today's consumer healthcare conversations, there's a mounting concern for a particularly vulnerable group: children. In January 2023, the American Academy of Pediatrics (AAP) recommended that healthcare providers offer weight-loss medications, in addition to lifestyle adjustments, to treat obesity in children 12 and older. And in addition, there was limited evidence on weight loss maintenance after medications were discontinued in children," Nicholson said. These injectable drugs have proven successful as weight-loss interventions for adults with obesity, early research shows. Nicholson said clinicians have used lifestyle interventions, like nutrition and exercise plans, to help children with obesity lose weight and reduce risk factors like hypertension, diabetes, and liver disease.
Persons: , Eli Lilly, Hilary Brueck, Wanda Nicholson, Nicholson, Amanda Staiano, Staino Organizations: Service, Pharmaceutical, Novo Nordisk, Business, American Academy of Pediatrics, US Preventive Services, Force, George Washington University School of Public Health, FDA, Pennington Biomedical Research, of Louisiana State University Locations: Pennington
South Africa’s public health care system has run out of the human insulin pens that it provides to people with diabetes, as the pharmaceutical industry shifts production priorities to blockbuster weight-loss drugs that use a similar device for delivery. Novo Nordisk, the company that has supplied South Africa with human insulin in pens for a decade, opted not to renew its contract, which expired last month. No other company has bid on the contract — to supply 14 million pens for the next three years, at about $2 per pen. Novo Nordisk’s drugs Ozempic and Wegovy, which are widely prescribed in the U.S. for weight loss, are sold in single-use pens produced by many of the same contracted manufacturers who make the multidose insulin pens. A month’s supply of Ozempic in the United States costs about $1,000, far more than insulin.
Persons: , Ambre James, Brown Organizations: Novo Nordisk Locations: South Africa, U.S, Ozempic, United States
Skyrocketing demand for a class of weight loss and diabetes treatments has lifted Eli Lilly to new heights over the last year. But the drugmaker has much more work it wants to do with that hard-won success, outgoing Chief Financial Officer Anat Ashkenazi told CNBC. Ashkenazi took over as CFO at Eli Lilly in 2021 after roughly two decades with the pharmaceutical giant. Her tenure hasn't come without challenges: Eli Lilly and rival Novo Nordisk have both struggled to manufacture enough supply of their treatments to meet unprecedented demand, causing nationwide shortages of those drugs. Eli Lilly does not expect to match the pace of demand this year and maybe not even in 2025, Ashkenazi said at a conference in March.
Persons: Eli Lilly, Anat Ashkenazi, Eli, Zepbound, Ashkenazi, Eli Lilly's Organizations: CNBC, Novo Nordisk
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