Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Friday, September 1st, and I'm your host Julie Morgan.

23 and me is up double digits after a big decision from the FDA.

Bernstein says reclassifying cannabis is not the preferred outcome,

and UPS is offering some in early retirement.

The US FDA has given 23 and me clearance to report an additional 41 variants in BRCA1 and BRCA2 genes that are associated with

higher risk of certain cancers.

23 and me is up nearly 16% in premarket trading.

The variants are linked to a higher risk of breast ovarian prostate

and pancreatic cancers.

The additional variants will be added to the company's genetic health risk report. The FDA also granted 23 and Mia predetermined change control plan.

This permits the company to add more BRCA1 and BRCA2 variants and other cancer risk information to its report without the need for a pre-market review.

UPS is reportedly looking to cut the number of pilots from its payroll through retirement

package offers.

In an email statement sent on Thursday, UPS confirmed that it is offering a voluntary separation benefit to eligible

pilots.

The retirement offer to pilots includes a comprehensive compensation package consisting of both

cash and health care benefits.

UPS has a goal to see 167 pilots take the compensation package.

The Atlanta-based company has not reduced its pilot workforce since 2010.

Cannabis stocks have been rallying on reports that the drug could be reclassified as less risky. But Bernstein said in a note that a reclassification

of cannabis by the US government from a Schedule I to a less risky Schedule 3 drug is not a preferred

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