☕️ Weighted Options

FDA approves Eli Lilly's new weight loss drug

Good morning.

The US Food and Drug Administration (FDA) has approved pharmaceuticals company Eli Lilly’s weight loss drug Zepbound, making it a worthy competitor to Novo Nordisk in the burgeoning weight loss industry which Wall Street expects could be worth US$100 billion by 2030.

*Stock data as of the market close. Commodities and crypto data in USD.

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Market News: The AGM at fund manager Magellan yesterday had its board facing shareholders over an 80% fall in its share price and the exit of its championed stock picker and co-founder Hamish Douglass.

Chair Andrew Formica faced the music, telling shareholders it would be a “long path back to recovery” as shares in the fund manager ended slightly higher on the day.

Together with Stake | Invest on Wall St and the ASX


  • Sanjeev Gupta’s Australian metals business Infrabuild has hired Jeffries to test the market for a US$350 million bond with yields as high as 15%. (Financial Times)

  • Australian, German and Canadian critical minerals explorers will ask for higher prices for EV metals in a bid to move reliance away from China. (Reuters)

  • Disney is expected to report earnings where it will explain how to fix streaming losses and a lower share price. (CNBC)

  • 950 of General Motors’ driverless cars are being recalled in the US after one of its robotaxis was involved in an accident with a pedestrian. (Reuters)

  • US chip company Vishay Intertechnology has agreed to buy Newport Wafer Fab for US$177 million after the UK government stepped in on national security ground. (Financial Times)



  • Activist investor Armytage criticizes COG's proposal for Diverger. (AFR)

  • Westpac seeks a new external auditor after parting ways with PwC. (Capital Brief)

  • Brookfield and EIG consider takeover bid for Origin Energy before vote. (The Australian)

  • IFM Investors acquires extra 2% of Atlas Arteria for $169m. (AFR)

  • Oaktree and Quadrant are reviewing MediaWorks and are considering splitting QMS from radio. (The Australian)

  • KKR to spend summer on Queensland Airports bid, enlists RBC. (AFR)

  • Sara Lee administrator seeks public support amid interest from 60 potential buyers. (SMH)

  • AustralianSuper is criticized for rejecting Origin Energy bid. (AFR)

  • EastLink bidder deadline, vendors may not be satisfied. (The Australian)

Capital Markets

  • UBS to offload $2bn Australian private credit loan book from Credit Suisse acquisition. (Capital Brief)

  • Mayur Resources secures $90m funding from Appian Capital Advisory for Papua New Guinea project. (AFR)

  • Brazilian Rare Earths is listing on ASX on Dec 18 and raising $50m. (AFR)

  • Cuscal delays ASX listing due to market conditions. (AFR | The Australian)

  • Navigate Global Payments is saved by Tozer & Co family office with a $30m recapitalization. (AFR)


  • Contour Cube, a Sydney ice facial startup, gains attention from Kendall Jenner and is featured in the Poosh holiday gift guide. (BNA)

  • Melbourne's Phantm raises $2m in oversubscribed seed round for plastic reduction platform. (BNA)


  •  ACCC lawyers call setting trial date for Qantas lawsuit "premature." (Capital Brief)

  • James Hardie posts record profit on price hikes and cost reductions, despite lower sales volume. (Capital Brief)

  • Rob Stein is heading resources research at Macquarie, replacing Bairstow. (AFR)

  • Optus faces a nationwide outage, impacting mobile and internet services. (Capital Brief)

  • FleetPartners faces shareholder class action over past financial reporting. (BNA)

  • PwC to cut over 340 jobs after Westpac ends a 20-year relationship, citing tax leak scandal and economic conditions. (SMH)

  • Shaw and Partners hires Rio Tinto's Dorab Postmaster as a new resource analyst. (AFR)