Novo Nordisk’s new obesity drug, Alphabet’s data center deal, the end of EV euphoria and more in Morning Squawk

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Here are five important things investors need to know to start their trading day.

Yesterday, regulators approved the first-ever GLP-1 pill – yes, a pill – to treat obesity. This is seen as a landmark decision that will expand access for patients.

Here’s what you need to know:

novo nordiskThe company behind the blockbuster hit Wegobee has announced that its new weight loss drug will be released early next year after receiving approval from the Food and Drug Administration. A starting dose of 1.5 milligrams is available for purchase at pharmacies and through some telemedicine providers for $149 per month with discounts. Novo Nordisk shares rose 7% in overnight trading. competitors Eli Lilly, The company, which was about to launch its own obesity drug, fell more than 1%. Other companies are also paying attention. dominion energyIts stock price fell more than 3% yesterday after the White House halted a wind power project under development. Follow us here for live market updates.

paramount skydance Billionaires weigh in on floundering bid Warner Bros. Discovery. Yesterday, Paramount secured the support of CEO David Ellison’s father, Larry Ellison, in amending the media company’s proposal.

Mr. Ellison’s support is seen as a response to questions from the Warner Bros. Discovery board about Paramount’s ability to finance the proposed acquisition. WBD Chairman Samuel Di Piazza told CNBC last week that the board wants further involvement from Larry, who is known as a co-founder. oracle.

WBD investors must make the following decisions: Follow the recommended sales. Netflix Or you could go public with Paramount. CNBC’s Alex Sherman explains whether shareholders are for or against Paramount.

Deal announcements were in full swing yesterday as the holiday week begins.

alphabet announced that it would acquire data center company Intersect for $4.75 billion in cash, assuming debt. Google’s parent company said the partnership will allow it to bring additional data centers and power generation capacity online more quickly.

Meanwhile, CNBC reported on Monday that Trian Fund Management and General Catalyst will acquire the asset management company. Janus Henderson The deal is expected to close in the middle of next year. The companies will pay $49 per share in cash, valuing Janus at approximately $7.4 billion. Janus stock rose more than 3% in yesterday’s trading.

The excitement around electric cars has all but disappeared. As CNBC’s Michael Weiland reports, this is the era of EV realism.

Despite billions of dollars spent and grand ambitions, demand did not meet expectations. Traditional car companies now admit that federal tax credits and other incentives, rather than true consumer preferences, primarily generated interest in cars.

As a result, Detroit automakers are deprioritizing EVs, once expected to be the future of the business. Instead, they focus on more traditional trucks and SUVs.

instacart announced on Monday that it is ending its controversial artificial intelligence-powered pricing test. Retailers will no longer be able to use the delivery platform’s technology to experiment with what consumers will pay.

As CNBC’s Annie Palmer points out, the technology came into the spotlight after studies by Consumer Reports and others found that pricing tools were causing shoppers to pay different prices for the same item at the same store. Instacart said that after testing, “some people may question the prices displayed,” which the company said is “fine.”

Holiday road trippers will be getting a gift of sorts at the pump. The average price of unleaded gasoline in the United States has hit a four-year low.

— CNBC’s Annika Kim Constantino, Tasmin Lockwood, Spencer Kimball, Pia Singh, Sara Salinas, Lillian Rizzo, Alex Sherman, Ashley Caputo, Fred Imbert, Michael Weiland and Annie Palmer contributed to this report. Terry Cullen edited this version.