Obesity pills show significant weight loss
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 26 June 2023
⏱️ 6 minutes
🧾️ Download transcript
Summary
Novo Nordisk high-dose pills show promise with weight loss in trials. Alphabet (GOOG) (GOOGL) is downgraded by UBS. Dan Ives gives his bullish view on three tech stocks.
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Show links:
Pills for obesity: Novo Nordisk records success in late-stage trials
Alphabet slips as UBS downgrades, citing 'limited upside,' monetization worries
Microsoft, AWS, Google may benefit as cloud spending showing 'pockets of upticks'
TV usage drops again in May, but streaming keeps rolling
Tesla is downgraded at Goldman Sachs as Wall Street continues to dial up caution on the EV stock
Carnival Non-GAAP EPS of -$0.31 beats by $0.02, revenue of $4.9B beats by $130M
Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action news and analysis. |
| 0:10.0 | Good afternoon. Today is Monday, June 26, and I'm your host, Kim Kahn. |
| 0:14.0 | Our top story so far in today's session. |
| 0:17.0 | Novo Nordisk says that the high-dose oral versions of its diabetes medication |
| 0:21.0 | semagglutide, significantly reduced weight and improved blood sugar. |
| 0:26.0 | That could make them a more convenient alternative to the therapy's expensive injections. |
| 0:30.0 | Semagglutide is the active ingredient in drugs like Ozempeck, which of surge in popularity as effective |
| 0:35.9 | weight loss treatments. |
| 0:37.8 | According to a late stage trial of high-dose oromigluotide in treating adults with |
| 0:41.4 | type 2 diabetes, 25 milligram and 50 milligram pills |
| 0:45.4 | showed significant higher weight loss than the 14 milligram pills. |
| 0:49.6 | Another late stage study in overweight or obese people without type 2 diabetes showed that the 50 |
| 0:55.4 | milligram pill led to significantly greater weight loss compared to a placebo. |
| 1:00.0 | Novo plans to seek regulatory approval for the high-dose pills later this year, but its commercial |
| 1:04.9 | launch and pricing are yet to be decided. |
| 1:07.7 | BMO capitals Evan David Segerman forecasted that weight loss pills could make up about 15% of the total |
| 1:13.7 | norkit as some people are just needle-phobic. |
| 1:17.1 | Now here's a look at how trading is shaping up. |
| 1:19.8 | Stock trading is choppy after the market broke a five week winning streak. |
| 1:23.5 | The SMT and Dow are up slightly. |
| 1:25.3 | The NASDAQ is getting a little more of its groove back, up half a percent. |
| 1:29.1 | There's more action in the bond market. |
... |
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