WeightWatchers Falls, Charles River Rallies, Walt Disney Jumps on Profit Forecast
On this episode of Stock Movers:
- WeightWatchers (WW) shares fall after the company announced it has filed for bankruptcy to reduce its debt by $1.15 billion through a lender-backed plan, which is expected to be completed in 45 days. The company has struggled to compete with weight-loss drugs like Ozempic and has been burdened by annual interest expenses of over $100 million, limiting its ability to invest in growth initiatives and marketing.
- Charles River (CRL) shares rally after the drug development contractor boosted its adjusted earnings per share forecast for the full year, following better-than-expected first-quarter results. Separately, the company also said it is in a cooperation pact with activist Elliott Investment Management where Elliott has agreed to “customary standstill, voting, confidentiality, and other provisions”
- Walt Disney (DIS) shares jump after the company reported fiscal second-quarter results that beat Wall Street estimates and raised its outlook for the full year. It cited strong performances from theme parks and streaming TV.
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