Select a category
Advertisement
Investopedia
22 m
9
:max_bytes(150000):strip_icc()/GettyImages-2178012991-2903ef6c3e534a0f82990ed32a544d05.jpg)
Novo Nordisk (NVO), maker of popular weight-loss drugs Ozempic and Wegovy, is set to report third-quarter earnings Wednesday morning, with Wall Street analysts generally bullish on the Danish drugmaker's stock.
Analysts with current ratings tracked by Visible Alpha have six "buy" and five "hold" or equivalent ratings. The average price target for the company's shares on its home stock exchange is 963.36 Danish krone (about $140), about 28% over its Monday close.
The company could face increased competition in the weight-loss market in coming years. Companies like Viking Therapeutics (VKTX) and AstraZeneca (AZN) this week offered new data for their own weight-loss drugs in various stages of clinical trials.
Deutsche Bank analysts said Monday that they believe Novo Nordisk, along with Mounjaro and Zepbound-maker Eli Lilly (LLY), have "built moats" that will make it difficult for other companies to scale production enough to challenge their dominant positions in the weight-loss market.
Analysts expect Novo Nordisk to report 72.17 billion krone ($10.48 billion) in revenue for the quarter, with Ozempic and Wegovy sales projected to rise 28% and 63%, respectively, from the same time last year.
Eli Lilly's results missed estimates last week, with sales of Mounjaro and Zepbound continuing to rise and bolster Lilly's revenue.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
Marriott Says Americans Are Staying Home This Election Season
The Harris-Biden Matchup Is Turning...
Investopedia
1 h
13
:max_bytes(150000):strip_icc()/GettyImages-2180591145-676c126cdc8e45528fbfc3934bf7e031.jpg)
The Harris-Biden matchup is turning Americans into homebodies, according to one hotel chain.
Marriott International (MAR) CFO Kathleen Oberg said the election has curtailed demand to a greater degree than prior election cycles. Marriott has “meaningfully lower” bookings for this week and the next, Oberg said Monday on an earnings call Monday.
“The election impact on U.S. and Canada [revenue per available room] is forecasted to be around negative 300 basis points in November and negative 100 basis points for the quarter, double that of past election cycles,” Oberg said on the call, a transcript of which was made available by AlphaSense. (A basis point is a hundredth of a percentage point.)
Marriott on Monday reported $584 million in profit in the third quarter, down from $752 million a year ago. Diluted earnings per share were $2.07, compared to $2.51 a year prior, the company said. The hotelier’s global revenue per available room, which grew 3% year-over-year in the third quarter, is expected to flatten in the fourth, CEO Anthony Capuano said.
Some other travel and hospitality businesses have said demand was down heading into the presidential election, as Americans vote and await results in the race between Vice President Kamala Harris and former President Donald Trump.
“What happens during a national election is that people tend to stay home,” Avis Budget Group (CAR) President and CEO Joseph Ferraro said during his company's conference call on Monday.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
Advertisement
Instablog9ja
2 hrs
14
A Federal High Court in Abuja has struck out the suit against persons charged over the nationwide #EndBadGovernance protest.
The Trial Judge, Justice Obiora Egwuatu, on Tuesday, struck out the suit following an application by the counsel to the Attorney General of the Federation, M. D Abubakar, to take over and discontinue the suit.
The Attorney General of the Federation, Lateef Fagbemi, who was represented by the Director of Public Prosecution of the Federation (DPPF) Mohammed Abubakar had at the proceedings announced the exercise of his power of section 174 of the 1999 Constitution to take over the case from the Inspector General of Police. After granting the request by Justice Egwuatu, the AGF proceeded to request the invocation of the same section of the Constitution to discontinue the trial of the 119 accused persons.
Following no objections to the request from various lawyers representing the accused persons, Justice Egwuatu granted the request and struck out the charges. Although the accused persons were not in court, the judge ordered their immediate release from prison.
President Bola Tinubu had on Monday directed the AGF to terminate the charges against the accused persons, most of who are said to be minors and prohibited by law from facing such trial.
Instablog9ja
3 hrs
14
A man has reported how his fellow man asked his doctor wife to choose between her job and their marriage just because they haven’t spent a solid five hours together since they got married.
He said this man just called his wife and asked her to pick between her job and their marriage. She’s a doctor working with an NGO, and he mentioned that they haven’t spent a solid 5 hours together since they got married.
Instablog9ja
4 hrs
14
A Twitterati has shared his observation on the ‘workout videos’ involving Equatorial Guinea’s financial crime chief and over 300 women.
He said the s£x tape saved him from being falsely accused of r@ping the women involved.
Advertisement
Instablog9ja
5 hrs
10
Rapper Phyno has posits a question following a trending report about ‘praise and worship videos’ involving Equatorial Guinea’s financial crime chief and over 300 women.
He asked if he was praying to convince the women, but reply that apart from the influence and money he has, has also checked his working tool?
