Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

It's good to have you here on this Wednesday, August 6th. I'm Julie Morgan.

Novo pulls back, ESPN huddles with the NFL, and OpenAI reaches for a $500 billion valuation.

Novo Nordisk is cutting costs.

The Danish drug maker says it is facing increasing competition from Eli Lilly and generic

versions of its obesity drug, Wigo V, with slower growth expected for its treatments

in the second half of the year.

Novo expects sales growth to be 8 to 14 percent, and operating profit growth is now likely to be 10 to 16 percent at constant exchange rates.

This is down from 13 to 21 percent and 16 to 24 percent, respectively.

The current president and CEO says the lowered sales outlook for 2025 is driven by lower growth expectations for the second half of the year, reflecting the persistent

use of compounded GLP1 slower than expected market expansion and competition.

Novo said it continues the global rollout of WeGOV to more markets

and invest in commercial activities towards driving market penetration for both Wegovi and OZMPIC.

Investors wiped off some $95 billion from Novo's market value last month after it issued a profit warning and named a new

CEO. The new CEO takes office on Thursday. Disney's ESPN has reached a non-binding deal with the

National Football League to acquire key NFL media assets in exchange for a 10% equity stake in ESPN.

Under the deal, ESPN will take over ownership and operations of NFL network and fully

integrated into its streaming and pay TV platforms. It will also gain broad rights to the

Red Zone brand, distribute the Red Zone channel to pay TV providers,

and merge NFL Fantasy with ESPN Fantasy to create the NFL's official season-long fantasy game.

In total, ESPN's platforms will license three additional NFL games per season

to air on NFL Network and shift

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