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Good morning on this Wednesday, the 26th of November. I'm Julie Morgan.

HP takes a hit after warning of a tougher year ahead. We're learning more about the Trump administration's deal with Novo, and Foxcon is doubling down in Wisconsin.

HP is down 5% in pre-market action.

Shares dropped after the company gave a weaker outlook and revealed plans to cut up to 6,000 positions.

For fiscal 2026, HP said it expects to earn between $2.90 and $3.20 a share on an

adjusted basis, with the midpoint below the $3.34 per share estimate. The weak guidance comes as

HP reported better than expected results for the period ending October 31.

HP said it earned an adjusted 93 cents per share as revenue rose 4.2% year over year to come in

at $14.64 billion. A consensus of analysts expected HP to earn $0.92 per share on an adjusted

basis with $14.53 billion in revenue during the

quarter. The company says it's restructuring to stay competitive, slimming down its workforce,

tightening expenses, and putting more money into AI-driven products and tools for productivity.

Leaders say these changes are aimed at keeping HP strong over the long run, even if the

near-term picture looks bumpy.

The Trump administration has reached a deal to sharply cut Medicare's costs for 15 high-priced

drugs, including OZMPIC and Wigo V.

The Centers for Medicare and Medicaid Services says it will pay $274 for a 30-day supply,

down from $959, a 71% drop.

These prices apply to what Medicare pays drug makers and not what patients pay.

This will take effect in 2027. The cuts are part of Medicare's drug

price negotiation program, which is expected to save taxpayers about $12 billion. These cost cuts

...