Seeking Alpha’s roundup of statements, announcements, and remarks that could impact markets, sectors, or individual stocks.
- President Trump said he plans to announce who he will nominate for Federal Reserve chair next week.
“We’re going to be announcing next week,” Trump said during a Cabinet meeting Thursday, according to Bloomberg. “We’re going to be announcing the head of the Fed, who that will be, and it will be a person that will, I think, do a good job.”
Leading candidates for the position are said to include National Economic Council Director Kevin Hassett, Fed Governor Christopher Waller, former Fed Governor Kevin Warsh, and BlackRock (BLK) Senior Managing Director Rick Rieder. Current Fed Chair Jerome Powell is slated to step down from the job in May.
- British regulators are updating product labeling for GLP-1 and GLP-1/GIP receptor agonist drugs, which include the hugely popular weight-loss medications Wegovy and Zepbound, to reflect the potential risk of users developing life-threatening pancreatic conditions.
The labels will be updated “to highlight the potential risk of severe acute pancreatitis with these products, including rare reports of necrotizing and fatal pancreatitis,” according to the U.K.’s MHRA.
Drugs that will carry the warning include dulaglutide, exenatide, liraglutide, semaglutide, and tirzepatide. Novo Nordisk (NVO) markets semaglutide under the brand names Wegovy and Ozempic, while Eli Lilly (LLY) sells tirzepatide under the names Zepbound and Mounjaro.
- Dow (DOW) said it plans to eliminate around 4,500 jobs under a new restructuring plan called Transform to Outperform.
“The goal of Transform to Outperform is to achieve significant growth and productivity gains that elevate Dow’s competitive position,” said Dow COO Karen Carter in a statement.
“We are building on the momentum of our current self-help measures—transforming Dow into a company that is more resilient, consistently delivers growth, enables customer success, and delivers greater shareholder value across the cycle,” Carter added.
Earlier Thursday, Dow reported a widened year-over-year Q4 loss on lower sales. The chemicals company employs around 34,600 people worldwide.