Luke Vargas

In other markets news today, Danish pharma giant Novo Nordisk has downgraded its guidance amid U.S. competition from copycat versions of its blockbuster weight loss and diabetes drugs. That competition, though, should theoretically let up soon, as the U.S. Food and Drug Administration has told anyone distributing copies of Novo's Ozempic and Wegovi to stop by month's end.

In other markets news today, Danish pharma giant Novo Nordisk has downgraded its guidance amid U.S. competition from copycat versions of its blockbuster weight loss and diabetes drugs. That competition, though, should theoretically let up soon, as the U.S. Food and Drug Administration has told anyone distributing copies of Novo's Ozempic and Wegovi to stop by month's end.

compounded versions of the drugs had been allowed during an earlier supply crunch. Weight Watchers has filed for bankruptcy. Founded in 1963, the health and wellness company has struggled to adjust to the increased use of drugs for weight loss, despite offering them alongside its legacy food consumption and exercise plans.

compounded versions of the drugs had been allowed during an earlier supply crunch. Weight Watchers has filed for bankruptcy. Founded in 1963, the health and wellness company has struggled to adjust to the increased use of drugs for weight loss, despite offering them alongside its legacy food consumption and exercise plans.

Weight Watchers intends to be taken over by the institutions that own its loans and bonds, and its stock will largely be wiped out. U.S. electric vehicle sales declined by 5 percent in April, in spite of 10 percent growth in the broader car market, according to research firm Motor Intelligence. Tesla, which accounts for half of all U.S. EV sales, reported a drop of nearly 13 percent.

Weight Watchers intends to be taken over by the institutions that own its loans and bonds, and its stock will largely be wiped out. U.S. electric vehicle sales declined by 5 percent in April, in spite of 10 percent growth in the broader car market, according to research firm Motor Intelligence. Tesla, which accounts for half of all U.S. EV sales, reported a drop of nearly 13 percent.

though Kia, Hyundai, Ford, and Rivian also saw sales declines. Dealers cited multiple factors for the pullback, from cooling customer interest to fewer promotions and discounts that had juiced sales in the past. Well, we will get more insights into the state of the auto market when used car dealer Carvana reports earnings later today.

though Kia, Hyundai, Ford, and Rivian also saw sales declines. Dealers cited multiple factors for the pullback, from cooling customer interest to fewer promotions and discounts that had juiced sales in the past. Well, we will get more insights into the state of the auto market when used car dealer Carvana reports earnings later today.

Updates are also due from Uber and Walt Disney this morning, and the Federal Reserve will announce its latest interest rate decision at 2 p.m. Eastern. It's widely expected to hold rates steady, though investors will be listening for clues on how policymakers gauge the risks of tariff-induced inflation pressure against the odds of an economic slowdown.

Updates are also due from Uber and Walt Disney this morning, and the Federal Reserve will announce its latest interest rate decision at 2 p.m. Eastern. It's widely expected to hold rates steady, though investors will be listening for clues on how policymakers gauge the risks of tariff-induced inflation pressure against the odds of an economic slowdown.

And heads up that we have got a bonus episode coming later today. In the next What's News in Earnings, we'll dig into the latest quarterly results from the aforementioned automotive sector, including how car companies are reacting to President Trump's tariff plans, and whether and when consumers might see higher prices passed along to them.

And heads up that we have got a bonus episode coming later today. In the next What's News in Earnings, we'll dig into the latest quarterly results from the aforementioned automotive sector, including how car companies are reacting to President Trump's tariff plans, and whether and when consumers might see higher prices passed along to them.

That'll be in the feed around midday, ahead of our usual PM show tonight. And finally, cardinals will close themselves in the Vatican's Sistine Chapel today to cast their first ballots in the conclave to choose a new pope. Journal editor Stacey Maitry says that after weeks of alliance building and unusually blunt campaigning, all eyes are on this year's frontrunner.

That'll be in the feed around midday, ahead of our usual PM show tonight. And finally, cardinals will close themselves in the Vatican's Sistine Chapel today to cast their first ballots in the conclave to choose a new pope. Journal editor Stacey Maitry says that after weeks of alliance building and unusually blunt campaigning, all eyes are on this year's frontrunner.

Speaking of dark horses, Stacey says there has been an unusual amount of intrigue around this conclave rivaling a recent Oscar nominated dramatization.

Speaking of dark horses, Stacey says there has been an unusual amount of intrigue around this conclave rivaling a recent Oscar nominated dramatization.

And that's it for What's News for this Wednesday morning. Today's show was produced by Kate Boulivant and Daniel Bach. Our supervising producer is Sandra Kilhoff. I'm Luke Vargas for The Wall Street Journal. And as always, thanks for listening.

And that's it for What's News for this Wednesday morning. Today's show was produced by Kate Boulivant and Daniel Bach. Our supervising producer is Sandra Kilhoff. I'm Luke Vargas for The Wall Street Journal. And as always, thanks for listening.

The Trump administration cuts off Harvard from new federal funding, plus political crisis in Germany as election winner Friedrich Merz fails to become the country's next chancellor.

The Trump administration cuts off Harvard from new federal funding, plus political crisis in Germany as election winner Friedrich Merz fails to become the country's next chancellor.