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

Good morning. Today is Thursday, October 5th, and I'm your host Julie Morgan.

Walmart says people aren't buying as much food thanks to diabetes medication.

Blackberry is splitting up its business and Ford is laying off even more workers.

The rise in the use of a class of drugs used for

diabetes and weight loss is starting to have an impact on shopper behavior

according to a Walmart executive. The CEO of U.S. operations John Furner tells Bloomberg,

there is a slight pullback in overall basket in terms of items purchased

and the calories in them.

He added that it's too early to tell how much of an impact the drugs will have.

Diabetes drugs such as Novo Zimpeck and Eli Lillies Monjaro are rising in popularity as they are being used for their weight loss benefits.

Along with Novo Zweegovi, which is actually approved for weight loss, all are considered

G.L.P. 1. Agonists. The drugs allow a person to feel full

even though they're eating less food. Walmart is able to examine sales patterns

using anonymized data on shoppers.

Bloomberg explained that Walmart can look at the purchasing changes among those taking those drugs and those who aren't.

Earlier this week, the CEO of Kalinova expressed concerns about the potential impact of weight-loss drugs on his company's operations.

Blackberry Limited will separate its Internet of Things and cybersecurity businesses into two independently operated entities.

The decision is the result of a strategic review of its portfolio earlier this year.

The company is pursuing an initial public offering for the

IOT business which includes foundational software in automotive and other verticals with a launch

targeted in the first half of the next fiscal year.

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