Novo Nordisk rises after Wegovy gets FDA nod for liver disease

Novo Nordisk rose in premarket trading after its blockbuster weight-loss shot Wegovy was approved by the Food and Drug Administration to treat a liver condition.

The company announced late Friday that Wegovy was granted approval for the treatment of metabolic dysfunction-associated steatohepatitis (MASH). Expanding the list of conditions its drugs can be prescribed for stands to bolster its sales — which have decelerated in recent quarters.

The company faces stiff competition from compounding pharmacies and Eli Lilly, which makes competing weight-loss and diabetes shots. Lilly’s drugs are newer and more effective at helping patients lose weight but Novo’s are currently approved to treat a broader range of conditions.

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J. Edward Moreno4h

Oscar Health jumps after Trump signals openness to extending ACA subsidies as part of deal to end government shutdown

Oscar Health jumped in after-hours trading after President Trump suggested he is open to extending Affordable Care Act subsidies as part of a funding bill to reopen the government.

The stock was recently up 9.1%.

ACA plans, which are a major source of revenue for some insurers, including Oscar, are at the center of budget negotiations as the government shutdown stretches on.

According to NBC News, when asked if he would be willing to make a deal on the subsidies, Trump told reporters: “If we made the right deal, I’d make a deal.” Senate Minority Leader Chuck Schumer denied that Trump was talking with Democrats about reaching an agreement but said, “We’ll be at the table,” The New York Times reported.

J. Edward Moreno5h

Constellation Brands earnings report beats Wall Street estimates

Constellation Brands ticked up in after-hours trading Monday after it reported earnings results that beat Wall Street expectations.

Constellation, which owns a variety of booze brands including Modelo Especial in the US, reported quarterly adjusted earnings per share of $3.63, higher than the $3.38 analysts polled by FactSet were expecting.

It also reported $2.48 billion in revenue, slightly above the $2.45 billion the Street predicted.

The company slashed its full-year guidance last month, reducing its fiscal 2026 adjusted EPS outlook to $11.30 to $11.60, down from its previous range of $12.60 to $12.90. Analysts are penciling in $11.49 adjusted earnings per share for the fiscal year.

The company left that guidance unchanged.

Despite owning one of the US’s most sold beers, Constellation is facing various headwinds ranging from declining beer consumption and pressure on Hispanic consumers.

Tasha Matsumoto

The S&P 500, Nasdaq 100, and Russell 2000 all post fresh closing highs

Gold and bitcoin also moved higher.

Chicago Bulls Dennis Rodman (91), Scottie Pippen (33) and Michael Jordan (23) during game vs Miami Heat. Miami, FL 2/23/1996

Luke Kawa5h

AppLovin craters after Bloomberg report that the SEC is investigating its data collection practices

What AppLovin CEO Adam Foroughi said would be “a fun quarter” is turning unfun in a hurry.

Shares of the ad tech company tumbled after Bloomberg reported that its data collection practices are the subject of an SEC probe, in particular whether it violated service agreements in a bid to push higher volumes of targeted advertisements.

Citing people familiar with the matter, Bloomberg says the investigation is in response to a whistleblower complaint as well as reports from short sellers, some of which were published in February.

It’s getting pretty tough keeping all these AI deals straight

Where is all this money supposed to come from? And who gets to keep it?

Matt Phillips6h

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