Novo Nordisk NVO, +1.48% NOVO.B, +1.93% said Thursday it has entered research collaboration agreements with Omega Therapeutics Inc. OMGA, -8.08% and Cellarity on new treatments for obesity management. The Danish developer of weight-loss drugs Ozempic and Wegovy said the Omega collaboration will leverage its proprietary platform technology to develop an epigenomic controller that aims to enhance metabolic activity. The Cellarity collaboration aims to discover biological drivers of metabolic dysfunction-asso ...

Shares in JD Sports Fashion plummeted 22% on Thursday as the sportswear retailer slashed its guidance, in another sign of a slump in the global sportswear market following Nike’s warning of a drop in consumer spending last month. JD Sports Fashion JD, -23.06% has cut its profit guidance, citing weaker-than-expected sales during its peak trading period.The Manchester-headquartered retailer on Thursday said sales in the peak 22-week period ending Dec. 30 fell behind its expectations, in a trading update. The ...

Mark Zuckerberg cashed in on his company’s 2023 stock rally in a big way — selling nearly $428 million worth of shares in Meta Platforms Inc. over the final two months of the year. The Meta META, -0.53% co-founder and chief executive offloaded just under 1.8 million shares over the course of every trading day between Nov. 1 and the end of last year, according to a regulatory filing with the U.S. Securities and Exchange Commission on Tuesday.  The sales were in accordance with a Rule 10b5-1 trading plan a ...

Intel Corp. INTC, -1.57% on Wednesday named Justin Hotard as executive vice president and general manager of its data-center and AI group, effective Feb. 1. Hotard, who was most recently executive vice president and general manager of High-Performance Computing, AI and Labs at Hewlett Packard Enterprise Co. HPE, +0.65%, will report directly to Chief Executive Pat Gelsinger. He succeeds Sandra River, who became CEO of the Programmable Solutions Group, which began as a standalone business on Jan. 1. ...

Apollo Global Management Inc. and Capital One Financial Corp. stood out as the largest of nine financial companies that landed on KBW’s best ideas list for 2024, according to a research note released Wednesday.With a market capitalization of about $53 billion, private-equity firm and annuities manager Apollo Global Management Inc. APO, +1.20% offers multiple pathways for growth, with an expectation of a 20% total return for 2024, analysts said.“[The] market continues to focus myopically on sum-of-the-parts ...

Apple Inc. appears to be in an innovation rut and that’s one reason a D.A. Davidson analyst is taking a cautious view of the stock. Analyst Gil Luria picked up coverage of Apple shares AAPL, -0.62% with a neutral rating late Tuesday, warning that the company needs to get “unstuck” when it comes to generating exciting new things. “While Apple has continued to introduce new form factors, especially within the wearables category, the handset and watch form factors have seemed to plateau over the last 3-4 years ...

Stocks and bonds posted gains last year, but the big rise in markets in the final two months of 2023 wasn’t enough to leave the technology-heavy Nasdaq Composite up from the end of 2021.“Following the strong year in 2023, the S&P 500 is now +3% in two years, but the Nasdaq is still -2% since the end of 2021 despite the big gain,” wrote BofA Global Research equity and quant strategists in a BofA note Wednesday. The “Magnificent 7” is up 9% in two years, but Tesla Inc., Amazon.com Inc. and Google parent Alpha ...

Morgan Stanley MS, -1.83% Chairman James Gorman said Wednesday a proposed set of bank capital requirements by federal regulators may be scaled back by the time they go into effect, according to a transcript of his interview with Bloomberg TV. “It will not go through in that form,” Gorman said. “If it did, I think it would have very, very negative consequences for corporate lending across this country, which is not what you want. It’s not going to help the economy grow.” Gorman’s comments came after regulat ...

Shares of General Motors Co. GM, -2.62% took a 2.5% dive in midday trading Wednesday, even as the automaker said it sold 2.6 million vehicles in the U.S. in 2023, up 14% from a year ago and enough to lead the industry in total sales. GM said it grew market share by 0.3 percentage points in 2023, and said electric vehicle sales increased 93% to 75,883 EVs. While all of GM’s brands saw sales increase in 2023, the fourth quarter wasn’t as strong. During the last quarter, Chevrolet sales eased less than 1%, Ca ...

Amazon.com Inc. is known for its expansive e-commerce operation and its cloud-computing prowess, but a third pillar of the company’s business could see more shine in 2024. That’s according to BofA Securities analyst Justin Post, who predicted a “solid” year ahead for Amazon’s advertising business. Admittedly, ads are already a nice contributor for Amazon AMZN, -0.07% and amounted to an estimated $32 billion in North America revenue last year, by Post’s math. But he’s upbeat about a new development for 2024 ...