Movers & Shakers: Meta’s stock up on report of more layoffs, and WeightWatchers telehealth deal gives it access to promising obesity drug market

by | Mar 7, 2023 | Stock Market

These were among some of the more prominent stocks on the move in Tuesday trading:Stock gainers
Biopharmaceutical company ADial Pharmaceuticals Inc.’s stock
soared 22%, after the company issued an update on its regulatory strategy for AD04, its lead compound for the treatment of alcohol use disorder.

WW International, also known as WeightWatchers
saw shares rise nearly 15% after the weight-management company reported fourth-quarter results and confirmed a Wall Street Journal report that it had agreed a deal to buy Sequence, which offers telehealth appointments with doctors, for $106 million in cash and stock. Crucially, the deal will give it access to obesity drugs like Ozempic, Wegovy and Mounjaro, that have become highly popular.

Visteon Inc.‘s stock
rose 3% after the car-parts maker said its board authorized a share buyback program of $300 million that will expire Dec. 31, 2026. The maker of hardware and software for cars said it expects to fund the buybacks using cash on hand and future cash flow generation. 

Dick’s Sporting Goods’s stock
jumped 9% after the retailer beat analysts’ earnings estimate for the fourth quarter and delivered better-than-expected full year earnings outlook. 

Dish Network‘s stock
rose about 7% in a rebound from its Monday close, where it finished the session at a 14-month low. The stock led gainers in the S&P 500

Meta Platforms‘s stock
rose slightly after a report from Bloomberg late Monday that it is poised to lay off thousands more staff members, starting later this week. Late last year, the social media giant cut 11,00 …

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