The logo of pharmaceutical company Novo Nordisk is displayed in front of its offices in Bagsvaerd, on the outskirts of Copenhagen, Denmark, Nov. 24, 2025.
Tom Little | Reuters
This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.
Here are five key things investors need to know to start the trading day:
1. Trim tab
Regulators approved the first-ever GLP-1 pill — yes, a pill — for treating obesity yesterday. It’s viewed as a landmark decision that can lead to expanded access for patients.
Here’s what to know:
- Novo Nordisk, the company behind blockbuster shot Wegovy, said the new weight-loss pill will launch early next year after receiving clearance from the Food and Drug Administration.
- The starting dose of 1.5 milligrams will be available at pharmacies and through select telehealth providers for $149 per month, with savings offers.
- Shares of Novo Nordisk surged 7% in overnight trading. Competitor Eli Lilly, which has been trying to launch its own obesity pill, slid more than 1%.
- Elsewhere, we’re keeping an eye on Dominion Energy, whose shares fell more than 3% yesterday after the White House halted the wind project it was developing.
- Follow live markets updates here.
2. Family business
The Paramount logo is displayed on the water tower at Paramount Studios on December 8, 2025 in Los Angeles, California.
Mario Tama | Getty Images
Paramount Skydance is putting some billionaire weight behind its embattled bid for Warner Bros. Discovery. Yesterday, Paramount guaranteed the backing of Larry Ellison, the father of CEO David Ellison, in an amended offer for the media company.
The elder Ellison’s support is viewed as a response to questions from Warner Bros. Discovery’s board of directors about Paramount’s ability to finance its offer. WBD Chairman Samuel Di Piazza told CNBC last week that the board wanted more involvement from Larry, who is known for co-founding Oracle.
WBD investors have a decision to make: Go along with the recommended sale to Netflix or tender their shares to Paramount. CNBC’s Alex Sherman walks through why shareholders may go with or against Paramount.
3. Holi-deals
A general view of the Google Midlothian Data Center where Texas Gov. Greg Abbott and Alphabet and Google CEO Sundar Pichai are scheduled to speak on Nov. 14, 2025 in Midlothian, Texas.
Ron Jenkins | Getty Images
Deal announcements were in full swing to kick off the holiday week yesterday.
Alphabet said it would acquire data center company Intersect for $4.75 billion in cash while assuming its debt. The Google parent said the deal would help bring additional data center and generation capacity online more quickly.
Meanwhile, CNBC reported Monday that Trian Fund Management and General Catalyst would acquire asset manager Janus Henderson in a deal that’s expected to close mid next year. The duo will pay $49 per share in cash, which values Janus at around $7.4 billion. Janus shares jumped more than 3% in yesterday’s session.
4. EVs’ new reality
Fronts of the GMC Sierra Denali,Tesla Cybertruck and Ford F-150 Lightning EVs (left to right).
Michael Wayland / CNBC
The euphoria around electric vehicles is largely gone. Now, as CNBC’s Michael Wayland reports, it’s the era of EV realism.
Despite billions of dollars spent and grand ambition, demand never met expectations. Now, legacy car companies are admitting that federal tax credits and other incentives mainly generated interest in the vehicles, not genuine consumer preference.
As a result, Detroit automakers are deprioritizing the EVs that were once heralded as the future of the business. Instead, they’re focusing on more-traditional trucks and SUVs.
5. Price check
The Instacart website on a laptop computer arranged in Hastings-on-Hudson, New York, U.S., on Monday, Jan. 4, 2021.
Tiffany Hagler-Geard | Bloomberg | Getty Images
Instacart said Monday it was ending its controversial artificial intelligence-driven pricing tests. Retailers will no longer be able to use the delivery platform’s technology to experiment with what consumers pay.
As CNBC’s Annie Palmer notes, this technology was thrust into the spotlight after a study by Consumer Reports and other organizations found that the pricing tool led shoppers to pay different prices for identical items from the same store. Instacart said that its testing left “some people questioning the prices they see,” which the company said was “not okay.”
The Daily Dividend
Holiday road-trippers will get a gift of sorts at the pump: The average price of unleaded gasoline in the U.S. has hit four-year lows.
— CNBC’s Annika Kim Constantino, Tasmin Lockwood, Spencer Kimball, Pia Singh, Sara Salinas, Lillian Rizzo, Alex Sherman, Ashley Capoot, Fred Imbert, Michael Wayland and Annie Palmer contributed to this report. Terri Cullen edited this edition.
