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Telehealth company Hims & Hers has decided to stop offering a compounded version of Novo Nordisk's weight-loss pill, Wegovy, following FDA warnings and potential legal action from Novo. The FDA cited safety, quality, and efficacy concerns over compounded drugs, which bypass clinical trials. Hims originally planned to sell the drug at a significantly reduced price to compete in the booming weight-loss drug market.

U.S. President Donald Trump has urged major oil companies to invest $100 billion in reviving Venezuela's deteriorated oil industry during a White House meeting. While some firms expressed interest, many executives, including Exxon Mobil CEO Darren Woods, labeled the nation as "uninvestable" due to past asset seizures and unstable conditions. Trump assured security guarantees and highlighted Venezuela's vast oil reserves, but companies remain hesitant without significant legal and operational changes.

General Motors (GM) announced a $7.1 billion charge in Q4 2025 due to restructuring in China and a pullback in EV investments amid weakening demand. The charges include $6 billion from EV-related impairments and $1.1 billion for joint venture restructuring in China. Despite this, GM remains committed to EVs but plans to lower production costs and adapt its strategy to evolving market conditions.

Novo Nordisk's FDA approval for its oral weight-loss drug, Wegovy, marks a significant milestone for the company and the obesity market. The pill, which showed superior weight-loss results in trials, offers a convenient alternative to injectables and aims to expand access for millions of patients. This development could help Novo regain market share amidst competition from Eli Lilly and others in a rapidly growing $150 billion obesity market.

November saw a modest 0.5% rise in U.S. home sales compared to October, but sales were down 1% year-over-year. High mortgage rates, limited housing supply, and elevated prices continue to weigh on potential buyers. Inventory levels dropped 5.9% month-over-month, while the national median home price reached $409,200, a 1.2% increase from the previous year. First-time buyers remain at 30% of sales, below the historical average of 40%. Experts highlight the importance of mortgage rates and economic conditions for a potential market rebound in 2025.

TikTok and its parent company ByteDance have agreed to create a joint venture, granting American investors majority control of its U.S. operations. Key investors include Oracle, Silver Lake, and MGX, holding a 45% stake collectively. ByteDance retains 20% ownership, with the deal expected to finalize by January 2026. The new entity will oversee data security, content moderation, and algorithm integrity, addressing U.S. national security concerns. This agreement marks a significant step in resolving tensions over TikTok’s Chinese ownership.

Warner Bros Discovery's board has urged shareholders to reject Paramount Skydance's $108.4 billion offer, citing its financial and structural risks, and instead favor Netflix's binding $83 billion merger proposal. The board highlighted Netflix's superior offer, which includes robust financing and fewer regulatory hurdles, as a more secure and beneficial option for shareholders. Paramount's claims of "air-tight financing" were questioned, with concerns over its creditworthiness and operational risks. A shareholder vote on the Netflix deal is anticipated in spring or early summer.

Ford Motor Company is pivoting its electric vehicle strategy, incurring a record $19.5 billion in special charges. The automaker will focus on hybrid and extended-range EVs (EREVs) while canceling certain EV models like the F-150 Lightning in its current form. Ford is also launching a new battery energy storage business and expects 50% of its global volume to consist of hybrids and EVs by 2030. These changes aim to address consumer demand and improve profitability for its EV segment by 2029.

The Federal Reserve has reduced the benchmark interest rate by 25 basis points to a range of 3.5%-3.75%, marking the third cut this year. The decision, made amidst rising inflation and a slowing labor market, reflects the Fed's effort to balance its dual mandate of price stability and maximum employment. However, the vote revealed a divided policy committee, with dissenters advocating for either a larger cut or no change. Fed Chair Jerome Powell emphasized the need for caution in future rate adjustments as uncertainty persists in the economy.

The University of Michigan reported a slight rise in U.S. consumer sentiment to 53.3 in December from 51 in November, surpassing economist expectations of 52. However, sentiment remains significantly lower compared to a year ago. Expectations for year-ahead inflation improved, dipping to 4.1%, the lowest since January. Despite this, consumers continue to feel burdened by high prices, and overall economic views remain subdued.

U.S. consumer spending rose by 0.3% in September, showing signs of slowing momentum compared to previous months. The moderation in spending is attributed to a weak labor market, rising living costs, and reduced government assistance. Despite these challenges, overall economic growth remained robust, with GDP estimated to have grown at an annualized rate of 3.8% in Q3. Inflation stayed elevated, with the Federal Reserve's preferred PCE Price Index rising 2.8% year-over-year, potentially influencing upcoming interest rate decisions.

Netflix has announced a $72 billion acquisition of Warner Bros. Discovery's film and television studios, along with the HBO Max streaming platform. This landmark cash-and-stock deal, approved by both companies' boards, aims to bolster Netflix's content library with iconic franchises like "Harry Potter" and "Game of Thrones." Expected to close by 2026, the deal faces potential antitrust scrutiny but positions Netflix as an even stronger player in the streaming and entertainment landscape.

Ahead of Thanksgiving, U.S. markets rallied with the Dow, S&P 500, and Nasdaq seeing nearly 1% gains. Robinhood shares surged 10% following its LedgerX acquisition, while Dell jumped 7% on strong AI demand. Conversely, Deere dropped 5% due to weak forecasts, and HP fell 2% amid layoffs and cost-cutting measures.

Best Buy exceeded Wall Street expectations for Q3, reporting a 2.7% rise in comparable-store sales, driven by strong demand for tech products like computers, gaming systems, and mobile phones. The retailer raised its full-year revenue forecast to $41.65-$41.95 billion and expects a 0.5%-1.2% increase in same-store sales. CEO Corie Barry highlighted innovation and replacement cycles as key growth factors. With these results, Best Buy is optimistic about the upcoming holiday season, despite broader economic uncertainties.

New York Fed President John Williams has indicated potential room for a December rate cut, citing a softening labor market and easing inflation risks. His comments significantly shifted market expectations, with rate cut odds rising to 70% from 35%. However, other Fed officials remain cautious, emphasizing the need for clear evidence before adjusting rates further. The ongoing debate underscores the Fed's balancing act between inflation control and supporting the job market.