Novo Nordisk's new obesity pill, Alphabet's data center deal, the end of EV euphoria and more in Morning...

In a monumental shift for obesity treatment, regulators have approved the first-ever oral medication aimed at combating obesity. This breakthrough is seen as a significant advancement that may enhance accessibility for patients seeking effective weight management solutions. In the world of media, Paramount Skydance is intensifying its efforts to acquire Warner Bros. Discovery by securing the financial backing of billionaire Larry Ellison, father of CEO David Ellison. This move comes after the Warner Bros. board expressed the need for more robust assurances regarding Paramount's financing capabilities. Shareholders now face a pivotal decision: support the proposed sale to Netflix or opt for Paramount's competing offer. The week commenced with a flurry of deal-making activity, highlighted by Alphabet's announcement of its acquisition of Intersect, a data center company, for $4.75 billion. This strategic move aims to expedite the expansion of data center capabilities, bolstering Google's operational capacity. In another significant development, Trian Fund Management and General Catalyst are set to acquire asset manager Janus Henderson for approximately $7.4 billion, with the deal expected to finalize by mid-next year. Janus's stock saw a notable rise following the announcement, reflecting positive investor sentiment. The initial excitement surrounding electric vehicles (EVs) has waned, transitioning into a more pragmatic approach among traditional automakers. Reports indicate that the anticipated demand for EVs has not materialized as expected, prompting major car manufacturers to reassess their strategies and shift focus back to conventional trucks and SUVs. Finally, in a noteworthy move, Instacart has decided to terminate its AI-driven pricing experiments following backlash over inconsistent pricing for identical items. The company acknowledged that this testing raised concerns among consumers, a situation it deemed unacceptable. Additionally, holiday travelers are likely to benefit from lower fuel costs, as the average price of unleaded gasoline in the U.S. has reached its lowest level in four years.