For the first time since May, Novo Nordisk is gradually increasing the supply of its highly sought-after weight loss drug Wegovy. The Danish drugmaker told FOX Business the company is making significant investments in Wegovy, which gained significant attention since 2022 after being touted by high-profile figures and social media users for its weight loss effects. It "has been steadily increasing capacity to produce more Wegovy than ever before," the company said.  NOVO NORDISK'S WEGOVY REDUCES RISK OF SERI ...

Walmart inc. announced a three-for-one stock split easing the barrier for employees and investors to buy shares.  The Arkansas-based company said the stock split is part of its "ongoing review of optimal trading and spread levels and its desire for its associates to feel that purchasing shares is easily within reach." Ticker Security Last Change Change % WMT WALMART INC. 166.12 +0.56 +0.34% The announcement comes as the company's stock is trading just below its all-time high of nearly $170 per share reache ...

Walmart inc. announced a three-for-one stock split easing the barrier for employees and investors to buy shares.  The Arkansas-based company said the stock split is part of its "ongoing review of optimal trading and spread levels and its desire for its associates to feel that purchasing shares is easily within reach." Ticker Security Last Change Change % WMT WALMART INC. 166.21 +0.65 +0.39% The announcement comes as the company's stock is trading just below its all-time high of nearly $170 per share reache ...

The largest private employer in the U.S. is looking to expand its footprint to reach even more customers.  Walmart U.S. CEO John Furner announced Wednesday that the Arkansas-based company is looking to build 150 modernized stores over the next five years, its latest effort to reinforce its role as a community pillar. Of the 150, some will convert smaller stores into bigger ones.It will mark the first time Walmart has opened a new store since November 2021, a spokesperson told FOX Business.  New stores will ...

A Delaware judge ruled in favor of Tesla investors who sued to challenge the $56 billion pay package for Tesla CEO Elon Musk, a court filing showed. "This decision dares to ‘boldly go where no man has gone before,’ or at least where no Delaware court has tread," the opinion stated. "The collection of features characterizing Musk’s relationship with Tesla and its directors gave him enormous influence over Tesla."In her ruling, the judge said, "The plaintiff is entitled to recission," and directed the two par ...

General Motors announced Tuesday it will cut spending on its robotaxi unit Cruise in half, or by roughly $1 billion, in 2024 as it looks to refocus the unit after a pedestrian accident paused its driverless operations and several executives departed.  Last week, Cruise disclosed that the Justice Department and the Securities and Exchange Commission (SEC) are investigating the company after an October accident in which a Cruise robotaxi struck a pedestrian who had initially been hit by another vehicle in an ...

UPS announced Tuesday that it plans to cut 12,000 jobs after its revenue forecast missed analysts' estimates. UPS said in a statement to FOX Business that its right-sizing its global workforce after having lower volume and seeing a more than $9 billion decline in revenue year over year. The company blamed these issues on the "dynamic external and economic conditions" in 2023. UPS Chief Executive Carol Tomé echoed this in the company's earnings report, saying that 2023 was "a unique and difficult year."  THE ...

A viral video of a Costco customer returning a couch purchased over two years ago sparked online discussion about the wholesale retailer's return policy and whether customers are abusing it. A woman named Jackie shared she bought a couch from Costco over two and a half years ago, in a video posted last week to TikTok that's attracted nearly 3 million views.Jackie admits she was nervous to return the large item to the warehouse store and felt intimidated by other shoppers staring at her while waiting in line ...

General Motors on Tuesday reported lower pre-tax profit for the fourth quarter but gave investors an upbeat outlook for 2024 and signaled more capital could be returned to shareholders. "Consensus is growing that the U.S. economy, the job market and auto sales will continue to be resilient," GM Chief Executive Mary Barra told investors in a letter.In contrast, Tesla Chief Executive Elon Musk cautioned investors last week that the world's most valuable automaker expected a year of slow growth, prompting a se ...

Toyota Chairman Akio Toyoda on Tuesday apologized for safety scandals that have rocked three of the company's subsidiaries. On Monday, Toyota disclosed it was suspending shipments of some Toyota models including the Hilux truck and Land Cruiser 300 SUV after an independent panel uncovered wrongdoing in tests for diesel engines developed by supplier Toyota Industries. The disclosure comes after Toyota subsidiary Daihatsu shut down production last month after admitting to decades of fraudulent safety test res ...