Seeking Alpha’s roundup of statements, announcements, and remarks that could impact markets, sectors, or individual stocks.
- Warner Bros. Discovery (WBD) investor Harris Oakmark said that Paramount Skydance’s (PSKY) amended bid for the company is still insufficient.
“The changes in Paramount’s new offer were necessary, but not sufficient,” said Alex Fitch, Harris Oakmark’s director of U.S. Research, in an email to Reuters. “We see the two deals as a toss-up, and there is a cost to changing paths. If Paramount is serious about winning, they’re going to need to provide a greater incentive.”
Harris Oakmark held 96 million WBD shares, equivalent to a roughly 4% stake, at the end of September, making it WBD’s fifth-largest shareholder, Reuters added.
- President Trump said he plans to urge defense contractors to spend more money on increasing production and less on stock buybacks and executive compensation.
“They want to buy back their stock—I don’t want them to buy back their stock,” Trump told reporters late Monday, according to The Wall Street Journal. “I want them to put the money in plants and equipment.”
Trump also cited Lockheed Martin (LMT) as a contractor that needed to upgrade its manufacturing facilities to speed up production.
“We have many people [who] want the F-35 fighter jet, and it takes too long to deliver them to allies or to ourselves,” Trump said. “The only way they’re going to be able to deliver them is if they build new plants. They don’t want to build new plants because it’s expensive.”
Trump is expected to meet with executives of the nation’s top defense contractors next week in Florida.
The Journal added that there has been speculation that Trump may issue an executive order banning defense contractors from engaging in stock buybacks.
- Novo Nordisk (NVO) announced it has received FDA approval for a pill formulation of its hugely popular GLP-1 weight-loss drug Wegovy, which up until now was typically administered by injection.
“As the first oral GLP-1 treatment for people living with overweight or obesity, the Wegovy pill provides patients with a new, convenient treatment option that can help patients start or continue their weight loss journey,” said Novo Nordisk CEO Mike Doustdar in a statement released late Monday.
“We are confident that the expansion of Wegovy to a pill will help patients who may have not sought or accepted treatment before,” said Dave Moore, Novo Nordisk’s EVP of US Operations, in a second statement.
Wegovy’s main competitor in the weight-loss market has been Eli Lilly’s (LLY) Zepbound, which is also delivered via injection. Novo Nordisk also markets Wegovy for diabetes under the name Ozempic, while Lilly markets Zepbound for diabetes under the name Mounjaro.