- The Dow Jones Industrial Average rose slightly on Monday, while the S&P and Nasdaq fell.
- OpenAI has changed its policy regarding secondary share sales.
- Novo Nordisk is also building a new manufacturing facility in Clayton, North Carolina.
Here are five important things investors should know before starting the trading day.
Unlike the other two major indexes, the Dow Jones Industrial Average rose on Monday, closing up 0.67% at 39,411.21. Meanwhile, the S&P 500 and tech-heavy Nasdaq both fell, dropping 0.31% to 5,447.87 and 1.09% to 17,496.82, respectively. In fact, Monday was the worst day for the Nasdaq since April. Nvidia also fell in the previous trading session, dropping 6.7%. These losses have pushed the company’s shares down 13% from last week’s peak. Last week also saw the company briefly surpass Microsoft in market capitalization to become the world’s most valuable company. Follow our live market updates.
OpenAI CEO Sam Altman speaks at the World Economic Forum in Davos, Switzerland on January 18, 2024.
Stefan Wermuth | Bloomberg | Getty Images
OpenAI is reversing its controversial stock sale policy. CNBC reported that the artificial intelligence startup will allow current and past employees equal participation in its annual tender offer. In a document shared last week through OpenAI’s stock management software and seen by CNBC, OpenAI said it was changing its policy to “place the same sale restrictions on all sellers (current and past service providers).” This includes employees and advisors, OpenAI said in the document. The company previously had rules that allowed OpenAI to decide who could participate in the stock sale, CNBC reported. The restrictive approach had raised concerns among shareholders about whether they would be able to liquidate some of their shares, worth millions of dollars.
The injectable weight loss drug Wegovy will be available at New City Halstead Pharmacy in Chicago, Illinois from April 24, 2024.
Scott Olson | Getty Images
Novo Nordisk is stepping up its drug therapy offerings. The Danish drugmaker said it will spend $4.1 billion to build a new manufacturing facility in Clayton, North Carolina, to boost supplies of injectables such as the blockbuster weight-loss drug Wegovy and diabetes treatment Ozempic. The 1.4 million-square-foot facility, scheduled for completion between 2027 and 2029, will fill and package syringes and injection pens, the company said. Medicines such as Wegovy have recently faced record shortages in the U.S. as demand outpaced supply. Novo Nordisk plans to invest $6.8 billion in production this year, up from about $4 billion in 2023.
Paramount Global is increasing its streaming prices. The company announced on Monday that it will increase the prices of its Paramount+ with Showtime plan and Paramount+ Essential option for all new subscribers starting Aug. 20. Those customers will see a $1 increase to $12.99 per month for the Paramount+ with Showtime plan and a $2 increase to $7.99 per month for the Paramount+ Essential option. Current Paramount+ with Showtime customers will be affected by the price increase after Sept. 20, while current Paramount+ Essential customers will not have to pay the increase. The price increases for the streaming service come after National Amusements ended Paramount merger talks with Skydance earlier this month.
Amy Poehler and Maya Hawke provide the voices of Joy and Anxiety, respectively, in Disney and Pixar’s Inside Out 2.
Disney | Pixar
Inside Out 2 may be on its way to the $1 billion club. As of Sunday, the Disney and Pixar film had earned $724.4 million worldwide. That officially surpassed Warner Bros. and Legendary Entertainment’s Dune Part 2’s $711.8 million to become the highest grossing film of 2024. And the figure could be even higher, as the animated film has yet to be released in Japan. Japan accounted for about $33 million of the first film’s $850.5 million in global box office gross. If the film does top $1 billion, it will be the first Disney animated film to do so since Warner Bros.’ Barbie. Additionally, no Pixar or Walt Disney Animation Disney animated film has grossed more than $480 million worldwide since 2019.
—CNBC’s Hakyung Kim, Yun Lee, Hayden Field, Annika Kim Constantino, Lillian Rizzo and Sarah Whitten contributed to this report.
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