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Investopedia
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Shares of WW International (WW), better known as WeightWatchers, jumped nearly 25% Tuesday when the dieting services company announced it is offering a copycat version of blockbuster weight-loss drugs.
WW said eligible members could now get compounded semaglutide, giving them "access to clinical weight management interventions that are underpinned by the comprehensive, science-backed, behavioral and lifestyle support that has helped millions of people reach and sustain their weight goals."
Semaglutide is the active ingredient in Novo Nordisk's (NVO) obesity treatment Wegovy, as well as its diabetes medicines Ozempic and Rybelsus, which have also been shown to help with weight loss.
WW noted that drugs to reduce weight have been in short supply, and interim Chief Executive Officer (CEO) Tara Comonte explained that the company is "expanding our offering to include a clinical weight management solution that is both accessible and affordable."
Compounding is a method by which another drug is added to the original patented one. WW noted that it has selected a compounding company that adheres to the same manufacturing standards enforced by the Food and Drug Administration (FDA) for production of FDA-approved drugs.
WW International shares have been sinking, plunging to an all-time low in September, as the success of Wegovy and others cut into demand for the company's services. Even with today's gains, the shares are down nearly 90% in 2024.
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Investopedia
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Sphere Entertainment (SPHR) stock fell Tuesday morning after announcing the unexpected departure of Chief Financial Officer (CFO) David Byrnes, who "will continue in his current role for an interim period to facilitate a smooth transition."
Byrnes has been finance chief of the Las Vegas Sphere operator since last December, and before that was CFO of Madison Square Garden Entertainment (MSGE), which spun off from Sphere Entertainment in April 2023.
Sphere Entertainment did not provide a reason for Byrnes' departure, simply saying that he "will be leaving the company."
Sphere Entertainment shares recently were down 8% to $41.39, but are still up about 22% so far this year.
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Instablog9ja
2 hrs
10
A 32-year-old mother of two, Lamidi Modinat, has died after being struck by a car on her way to work in Rotherham.
It is reported that on December 18th, 2023, while crossing Clifton Lane, she was tragically struck by a black Ford Focus. She sustained a serious head inj¥ry and was rushed to the hospital, where she fought for her life in critical condition for months.
Despite her brave fight, Lamidi sadly passed away on September 30th, 2024. However, in an interview with Yorkshirelive months ago, Lamidi’s devastated husband, Ahmed Taiwo, recalled the moment their lives changed forever, he said: “My wife left home at around 5pm on Monday, December, 18, and headed to work, she started her shift at 7pm and as always and got get the bus from Sheffield to Rotherham.
It was an ordinary day, she was feeling happy, my mother, who had come over to stay with us at the time, recalls she was dancing and singing before she left. Lamidi was set to celebrate her birthday on December 24 and we were all looking forward to spending some time together at the weekend. Everything seemed normal that evening, I was upstairs tending to our two young children (aged 6 and 2) when there was a knock at the door, it was the police. They told me my wife had been involved in a road collision and was seriously hurt, at first I didn’t believe them and I said ‘it can’t be my wife is at work’, when they relayed the details, I was shattered, I immediatley rushed to the hospital.
I arrived at Northern General hospital and had to wait until around 3am in the morning to see my wife because she was in such a bad state, it was agonising. I called my friends to come and wait with me because I was so scared. When I finally got to see my wife I couldn’t believe my eyes, it was surreal. I was devastated, I have only seen things like that in movies, she was covered in wires and machines, she was wrapped in different bandages, it takes a lot to take me to cry, my friends were all crying, I was in shock I couldn’t understand what had happened.”
Ahmed continued: “My wife was moved to intensive care fairly quickly, they did an MRI scan to assess the damage. The tissue in her brain has been disconnected so I believe, the brain has been severely damaged and right now we don’t know how things are going to go. She’s not talking, she’s not responding when you talk to her, she opens her eyes but she’s not doing much else at the minute. The doctors wanted to stop life support but I did not give consent.
She has two kids, I don’t want my kids to be without a mother, I do not want to give up, she was moved to the critical care department, I begged them to give her more time. She’s still breathing, she’s still trying, my children need their mum. The kids are missing her, my eldest son is really struggling, he doesn’t understand, he’s crying a lot, it’s really difficult to explain to him that he might never see her again.
Investopedia
2 hrs
14
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PepsiCo (PEP) reported declining third-quarter revenue and profit, and again lowered its full-year sales outlook, as the beverage and snack giant said inflation has continued to impact consumer spending.
The company reported $23.32 billion in revenue, down slightly from the same time last year and below what analysts had expected. PepsiCo's $2.93 billion in net income also fell year-over-year and missed consensus estimates of analysts polled by Visible Alpha.
Sales improved 0.2% in the company's North American beverages segment and 6.5% in its operations in Europe, but declined in all other regions, as company leadership noted "the cumulative effects of inflationary pressures continue to impact budgets and spending patterns."
For the second straight quarter, PepsiCo lowered its full-year organic sales outlook, now projecting "a low-single-digit increase" from approximately 4% growth, which itself was down from a prior estimate of "at least 4%."
PepsiCo shares, which were 1.6% lower on the year through Monday's close, were down a further 0.7% about 45 minutes before the opening bell.
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Instablog9ja
3 hrs
12
The prolonged absence of President Paul Biya of Cameroon has sparked rumours that he may have died in a military hospital in France. This speculation follows Biya’s extended absence after the China-Africa Summit in September, where he was expected to return to Cameroon immediately afterwards.
At 91 years old, Biya has been in power for 42 years, having assumed office on November 6, 1982. He is Africa’s second-longest-serving president, the longest-serving non-royal national leader globally, and the oldest head of state.
Rumours suggest that France is considering installing Biya’s eldest son, Franck Emmanuel Biya, as his successor for “continuity.” A Cameroonian citizen on X, Okahewahedede, remarked, “Paul Biya ruled Cameroon for 42 years and almost destr%yed the country. Now he is d£ad, and France is doing everything possible to make his eldest son, Franck Emmanuel Biya, his successor.”
Another user, jordanly00, added, “This is nothing new; he hasn’t been running the country for a while.” As speculation intensifies, the government’s silence has fueled public uncertainty regarding Cameroon’s political future. The absence of official updates on Biya’s health has led to widespread speculation, with some reports claiming he is either recovering in Switzerland or hospitalised in France.
Lawyer Christian Ntimbane expressed his concerns in an open letter to Samuel Mvondo Ayolo, director of the Civil Cabinet, urging the government to clarify the president’s situation. “If he is on vacation, say so. If he is sick, say that too,” he stated, aiming to ease public concerns. Biya’s absence has dominated media coverage, raising anxiety among citizens regarding political stability after his 42-year reign.
On social media platforms, opinions are divided. Some users suspect that France aims to install Biya as his father’s successor, while others believe Cameroon is on the verge of liberation from Biya’s prolonged rule.According to Cameroon Concord, a political framework may already be in place to facilitate the transition, with Biya’s brother-in-law, Robert Nkili, positioned to serve as interim president.
However, opposition leaders, such as Maurice Kamto, may mobilise to contest any dynastic succession attempts, advocating for democratic reforms. Biya has been Cameroon’s president since November 6, 1982, following his role as prime minister from 1975 to 1982.
As speculation continues, the government’s silence perpetuates public uncertainty about Cameroon’s political future.
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Investopedia
3 hrs
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Netflix (NFLX) reports third-quarter earnings next Thursday, Oct. 17, and analysts expect the streaming giant to post year-over-year revenue, profit, and subscriber growth ahead of the final quarter of 2024.
Analysts polled by Visible Alpha project that Netflix will report net income of $2.23 billion on revenue of $9.77 billion, up 33% and 14%, respectively, from a year earlier. Shares have gained nearly 45% since the start of the year, but they dipped following the company's quarterly reports in April and July.
Analysts expect Netflix to report just under 286 million active subscribers at the end of the quarter, up about 4 million from last quarter and over 30 million more than last year, according to Visible Alpha. Netflix has said it will stop reporting subscriber data starting in 2025, and focus instead on financial metrics.
Analysts have said Netflix's crackdown on password sharing has been successful in driving new subscribers. Barclays analysts, however, recently cited the "trade-offs" suggested by its pathways to future growth in downgrading the stock to "underweight" from "equal weight"—making them the only analysts tracked by Visible Alpha with a "sell"-equivalent rating—while leaving unchanged a price target of $550.
Netflix has an important fourth quarter, with KeyBanc analysts recently noting that the streamer's first NFL games, which will be broadcast on Christmas Day, could be a catalyst for subscriber growth. The analysts, who raised their price target to $760 from $735, said nearly a quarter of people they surveyed who aren't Netflix subscribers said the games would make them consider signing up.
The Christmas games are the latest bet on live sports from Netflix and other streamers as a way to draw new subscribers. Netflix is also set to become the official broadcaster of TKO Group's (TKO) WWE professional wrestling events starting next year.
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