United (UAL) earnings Q2 2024

United Airlines planes at Denver International Airport.

Leslie Josephs | CNBC

United Airlines‘ second-quarter profit rose more than 20% from last year as strong demand for international travel boosted the carrier’s results, but its third-quarter forecast came in shy of estimates as an oversupply of flights weighs on fares.

United said Wednesday that it expects to earn between $2.75 and $3.25 a share on an adjusted basis in the current quarter, lower than the $3.44 a share analysts polled by LSEG estimated.

Here’s what United reported for the second quarter compared with what Wall Street expected, based on average estimates compiled by LSEG:

  • Earnings per share: $4.14 adjusted vs. $3.93 expected
  • Revenue: $14.99 billion vs. $15.06 billion expected

United earned $1.32 billion, or $3.96 per share, in the three months ended June 30, up from $1.08 billion, or $3.24 per share, a year earlier. Adjusting for one-time items, United reported second-quarter earnings of $4.14 a share, compared with $3.93 that analysts expected.

Revenue of $14.99 billion jumped 5.7% over last year, though it was just shy of estimates.

United reiterated its full-year forecast for adjusted earnings of $9 to $11 a share.

United and Delta Air Lines, which also disappointed with its third-quarter guide, have still been standouts in the airline industry. Most carriers have been struggling with an increase in U.S. domestic capacity that has weighed on airfares, despite record demand.

Both carriers have added international flights, which have been in high demand after the pandemic, and premium offerings, like bigger lounges and more spacious seats, capitalizing on travelers willing to pay more for a ticket.

United said on Wednesday that premium revenue grew more than 8% from last year, while sales from the most restrictive basic economy tickets rose 38%, as it caters to both ends of the market.

United expanded domestic flying by more than 5% in the second quarter over last year, and unit revenues fell more than 1% over last year. Yields on flights to and from Europe, which is a smaller slice of United’s sales, rose more than 5%, compared with the second quarter of 2023.

United CEO Scott Kirby said airlines have been trimming their schedules and that there will be an inflection point to moderate the supply in mid-August.

“Looking forward, we see multiple airlines have begun to cancel loss-making capacity, and we expect leading unit revenue performance among our largest peers in the second half of the third quarter,” he said.

On Tuesday, Spirit Airlines cut its second-quarter forecast, citing weaker-than-expected revenue for fees like seating or luggage. Southwest Airlines and American Airlines, which report results on July 25, previously reduced their second-quarter estimates.

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Biden To Help Time period Limits For Supreme Court docket Justices

President Joe Biden is set to call for major changes to the Supreme Court, including ethics reform and term limits for Justices.

The Washington Post reported:

President Biden is finalizing plans to endorse major changes to the Supreme Court in the coming weeks, including proposals for legislation to establish term limits for the justices and an enforceable ethics code, according to two people briefed on the plans.

He is also weighing whether to call for a constitutional amendment to eliminate broad immunity for presidents and other constitutional officeholders, the people said, speaking on the condition of anonymity to discuss private deliberations.

Biden’s shift on the Supreme Court is massive and incredibly smart. The Supreme Court has never been as unpopular as it is currently. The court’s conservative majority is corrupt, rogue, and out of control. Term limits on Supreme Court justices would mean that justices like Alito and Thomas would be sent off into retirement and replaced by two new justices that President Biden would choose.

Biden’s support for Supreme Court reform is also politically savvy, as it keeps the reproductive rights issue front and center while putting Trump and the Republicans in a position of having to defend their deeply unpopular Supreme Court majority.

If Biden wins this election, Democrats will probably keep the Senate and win back the House.

The stakes in 2024 just got even higher as a Democratic victory could mean the end for Alito and Thomas.

Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.

Awards and  Professional Memberships

Member of the Society of Professional Journalists and The American Political Science Association

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These are the 10 worst U.S. states for high quality of life

The job market may have cooled a bit, but there are still far more job openings nationwide than there are people available to fill them. That means qualified workers are still a precious commodity.

So, companies seeking to attract great employees like to set up shop in states that offer a great quality of life. While some states are more than happy to oblige, these are not those states. They are America’s worst states to live and work in. 

Each year, CNBC’s America’s Top States for Business study considers quality of life among ten categories of competitiveness used to rank the states. Under this year’s methodology, the Quality of Life category counts for 13% of a state’s overall score. 

We score each state on multiple livability factors including crime rates, health care, air quality and child care. We also consider worker protections, and legal safeguards against discrimination of all kinds. And, we look at personal freedom including reproductive rights. 

In these ten states, the welcome mat has more than a few holes in it. 

10. Arizona 

Members of Arizona for Abortion Access, the ballot initiative to enshrine abortion rights in the Arizona State Constitution, hold a press conference and protest condemning Arizona House Republicans and the 1864 abortion ban during a recess from a legislative session at the Arizona House of Representatives on April 17, 2024 in Phoenix, Arizona. 

Rebecca Noble | Getty Images

Because everyone has their own opinion about the weather, we don’t include it in our Quality of Life rankings. That means Arizona reaches the bottom tier without even considering the sweltering heat. We do, however, consider air quality, and the state’s rising temperatures are contributing to some of the worst ozone pollution in the nation, according to the American Lung Association. 

The Grand Canyon State also has growing gaps in health care, with fewer than two staffed hospital beds per 1,000 people, according to the American Hospital Association. 

In May, Democratic Gov. Katie Hobbs signed a repeal of the near-total abortion ban passed in 1864, before Arizona was a state. But that still left the state with a 15-week ban. And a quirk in the state constitution could allow the 1864 ban to go back into effect, if only briefly, this fall. 

2024 Quality of Life Score: 119 out of 325 Points (Top States Grade: D-)

Strengths: Crime, Voting Rights, Worker Protections

Weaknesses: Air Quality, Reproductive Rights, Health Care  

9. Kansas 

Thomas Barwick | Digitalvision | Getty Images

Quality child care is sparse in the Sunflower State, with just 825 licensed child-care centers in a state of 2.9 million people, according to Child Care Aware of America. Kansas also has some of the most expensive child care in the nation. A married couple earning a median income can expect to spend nearly 14% of it on child care. 

Oh, and don’t let the idyllic prairie fool you: Kansans reported more than 11,000 violent crimes in 2022, the most recent figure available from the FBI. The crime rate has recently begun to decline after nearly a decade on the rise, but Kansas is still more violent than the nation as a whole. 

2024 Quality of Life Score: 113 out of 325 Points (Top States Grade: F)

Strengths: Health Care, Reproductive Rights

Weaknesses: Child Care, Crime, Worker Protections

8. Louisiana

Police officers work at the scene of a shooting that occured during the Krewe of Bacchus parade in New Orleans, February 19, 2023. 

Chandan Khanna | AFP | Getty Images

People in the Pelican State pride themselves on being made of stern stuff. That’s probably a good thing in a state with the fourth-highest violent crime rate in the nation, according to FBI statistics, including more than 300 murders in 2022.

Louisiana is America’s least healthy state, according to the United Health Foundation, with the fourth-highest rate of premature deaths. More than 40% of Louisianans are obese. However, the state is a leader in child care, with more than 1,800 licensed facilities in a state of 4.5 million people, according to the Louisiana Department of Education.

2024 Quality of Life Score: 100 out of 325 points (Top States Grade: F)

Strength: Child Care

Weaknesses: Crime, Health, Reproductive Rights

7. Missouri

St. Louis County Prosecutor Wesley Bell listens to a concerned voter after casting his ballot on November 3, 2020 outside the St. Louis County Board of Elections in St. Ann, Missouri.

Michael B. Thomas | Getty Images

In 2020, as the Covid-19 pandemic raged, Missouri became one of the last states to give in and allow early and mail voting. But it remains one of the most burdensome states to vote in, according to elections researcher Michael Pomante, who has published a Cost of Voting Index since 2018. Missouri is one of only 10 states requiring a qualified excuse to vote by mail. Missouri also has America’s sixth-highest crime rate, with more than 30,000 offenses reported in 2022.

 2024 Quality of Life Score: 98 out of 325 points (Top States Grade: F)

Strength: Air Quality

Weaknesses: Voting Rights, Crime, Reproductive Rights

6. Tennessee 

Educators and various organizations from across the state of Tennessee march to the Amazon headquarters in downtown Nashville in protest of Governor Bill Lee’s school voucher program on March 12, 2024 in Nashville, Tennessee. 

Seth Herald  | Getty Images

The Tennessee Bureau of Investigation reports that violent crime in the Volunteer State is declining, including a nearly 9% drop in the murder rate in 2022. But it is still among the most violent states in the nation, according to FBI crime statistics. 

The Human Rights Campaign alleges Tennessee lawmakers unleashed “a tsunami of discriminatory legislation” in 2024, including a law signed by Republican Gov. Bill Lee in April that forbids the state social services department from seeking to place LGBTQ+ foster children in supportive homes. Another law clears the way for the state to abolish its independent human rights commission, folding it into the partisan Attorney General’s office. 

2024 Quality of Life Score: 96 out of 325 points (Top States Grade: F)

Strengths: Child Care, Air Quality

Weaknesses: Crime, Inclusiveness, Health Care

5. Arkansas

Kali9 | E+ | Getty Images

The Natural State is dangerous, with the second-highest violent crime rate in the nation after New Mexico. Anti-discrimination provisions in the state’s public accommodation law are weak, according to the National Conference of State Legislatures, with no protections against discrimination based on age, veteran or military status, pregnancy, sexual orientation or marital status. However, the state is a leader in affordable child care. A married, median income couple can expect to pay just 9% of their income on child care. The state of about three million people has nearly 1,800 licensed child-care facilities. 

2024 Quality of Life Score: 93 out of 325 points (Top States Grade: F)

Strength: Child Care

Weaknesses: Inclusiveness, Crime, Voting Rights 

4. Oklahoma 

Dr. Franz Theard consults a woman seeking abortion from Oklahoma in his clinic, Womens Reproductive Clinic, a provider of abortions in Santa Teresa, New Mexico on May 7, 2022. Paul Ratje/The Washington Post via Getty Images

Paul Ratje | The Washington Post | Getty Images

Oklahoma’s abortion ban, triggered by the Supreme Court’s 2022 Dobbs decision, is among the most restrictive in the nation, according to the Guttmacher Institute. It prohibits abortions at any stage of pregnancy, except in cases of rape or incest, or if the procedure is necessary to save the life of the mother. Oklahomans have the nation’s third-highest obesity rate and the third-lowest rate of physical exercise. That helps make the Sooner State among America’s least healthy. 

2024 Quality of Life Score: 85 out of 325 points (Top States Grade: F)

Strength: Air Quality

Weaknesses: Reproductive Rights, Health, Worker Protections, Voting Rights 

3. Alabama 

Voters enter a polling location to cast their ballots in the state’s primary on March 5, 2024 in Oxford, Alabama. 15 States and one U.S. 

Elijah Nouvelage | Getty Images

Alabama is one of only three states that do not allow early voting, according to The Center for Election Innovation and Research (the others are Mississippi and New Hampshire). And this year, the state passed significant new restrictions on absentee voting. 

Oxfam America ranked the Yellowhammer State dead last for wage policies. The state minimum wage of $7.25 per hour covers less than 20% of the cost of living for a family of four. Alabama is one of only five states with no public accommodation law barring discrimination against non-disabled people. 

2024 Quality of Life Score: 83 out of 325 points (Top States Grade: F)

Strength: Child Care

Weaknesses: Voting Rights, Inclusiveness, Worker Protections 

2. Indiana 

Solstock | E+ | Getty Images

Indiana is the worst state for access to child care, with just 772 licensed facilities in a state of nearly seven million people. The low supply versus demand makes child care expensive in the Hoosier State. A married couple can expect to spend nearly 13% of a median income on child care.

Indiana has joined a parade of states passing laws targeting the LGBTQ+ population, including a ban on gender-affirming care for minors, and barring teachers from discussing human sexuality from pre-kindergarten through third grade. 

2024 Quality of Life Score: 78 out of 325 points (Top States Grade: F)

Strength: Crime

Weaknesses: Child Care, Reproductive Rights, Inclusiveness, Voting Rights 

1. Texas 

Darwin Varela is carried into the Fort Duncan Regional Medical Center after suffering from dehydration on July 18, 2023 in Eagle Pass, Texas. 

Brandon Bell | Getty Images

Yes, we know. People are moving to the Lone Star State in droves. Some 220,000 educated workers moved there in 2022 alone, according to the Census Bureau. So how could we possibly score Texas at the bottom for Quality of Life? The fact is that people move to a state for any number of reasons. The ones arriving in Texas are encountering some serious livability issues, based on the data. 

Take something as basic as health care. Texas ranks near the bottom in primary care providers per 100,000 residents at 182, according to the United Health Foundation. According to The Commonwealth Fund, Texas leads the nation — by far — in residents without health insurance, and a staggering 19% of all people with a credit score in Texas have medical debt that has gone to collections.

Those new Texans are also finding few protections in the law. Texas is another state with no public accommodation law barring discrimination against non-disabled people; it has passed a barrage of laws targeting the LGBTQ+ community; and its abortion ban is the strictest in the nation. Also, if any of those new Texas residents lose their jobs, state unemployment benefits cover less than 10% of the average cost of living, according to Oxfam America. 

Might Texas’ restrictive policies trigger a backlash? There are some anecdotal accounts of people leaving the state over its abortion ban and its anti-LGBTQ+ laws. But for now, statistically speaking, people keep pouring into the state with America’s worst quality of life. 

2024 Quality of Life Score: 75 out of 325 points (Top States Grade: F)

Strength: Air Quality

Weaknesses: Reproductive Rights, Health Care, Voting Rights, Inclusiveness, Worker Protections

Correction: Alabama is one of only three states that do not allow early voting. Delaware recently reinstated early voting. Elections researcher Michael Pomante has published a Cost of Voting Index since 2018 separate from his work for the States United Democracy Center. An earlier version of this article misstated these facts.

Citigroup (C) earnings Q2 2024

Jane Fraser, CEO of Citi, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 1, 2023. 

Patrick T. Fallon | AFP | Getty Images

Citigroup on Friday posted second-quarter results that topped expectations for profit and revenue on a rebound in Wall Street activity.

Here’s what the company reported:

  • Earnings: $1.52 a share vs. $1.39 a share expected, according to LSEG
  • Revenue: $20.14 billion vs. $20.07 billion expected

The bank said net income jumped 10% from a year earlier to $3.22 billion, or $1.52 a share. Revenue rose 4% to $20.14 billion.

Equities trading revenue rose 37% to $1.5 billion, driven by strength in derivatives and a rise in hedge fund balances, roughly $300 million more than the StreetAccount estimate.

Fixed income revenue dipped 3% to $3.6 billion, essentially matching analysts’ expectations, on lower activity in rates and currency markets.

Investment banking revenue surged 60% to $853 million, driven by strong issuance of investment-grade bonds and a rebound in IPO and merger activity from low levels in 2023.

Shares of the bank fell nearly 2%.

“Our results show the progress we are making in executing our strategy and the benefit of our diversified business model,” Citigroup CEO Jane Fraser said in the release. “Markets had a strong finish to the quarter leading to better performance than we had anticipated.”

Citigroup was just this week rebuked for failing to fix its regulatory shortfalls.

Last year, Fraser announced plans to simplify the management structure and reduce costs at the third-biggest U.S. bank by assets. But earnings will take a backseat if Citigroup cannot appease regulators’ concerns about its data and risk management.  

JPMorgan Chase announced results earlier Friday, while Goldman Sachs, Bank of America and Morgan Stanley report next week.

Correction: This article has been updated to correct that Citigroup reported revenue of $20.14 billion for the second quarter. A previous version misstated the figure due to a rounding error.

Rudy Giuliani chapter case dismissed

Rudy Giuliani speaks to members of the media where Florida Gov. Ron DeSantis was scheduled to host a campaign event in Manchester, New Hampshire, on Jan. 21, 2024.

Brandon Bell | Getty Images

A New York federal bankruptcy judge on Friday in a scathing ruling dismissed the Chapter 11 bankruptcy protection case of Rudy Giuliani, immediately exposing the newly disbarred former Trump lawyer to his creditors seeking repayments of his massive debts in other court venues.

Those creditors include two Georgia election workers, to whom Giuliani owes $148 million in civil damages for defamation from a federal district court jury award in December.

The damages stem from slanderous statements the former New York City mayor made about the workers, Ruby Freeman and her daughter, Wandrea “Shaye” Moss, when he was trying to overturn the loss of then-President Donald Trump in the 2020 presidential election.

Freeman and Moss, unlike many other Giuliani creditors, supported the idea of dismissing the bankruptcy case in the Southern District of New York, which he filed days after losing the defamation judgment.

Giuliani also agreed to the dismissal, as it would allow him to go forward with an appeal of his court loss to the women, and avoid having a bankruptcy trustee oversee the handling of his assets.

The bankruptcy case’s dismissal comes 10 days after the state of New York disbarred Giuliani for his widespread lies about voter fraud leading to Trump’s defeat in 2020 to President Joe Biden. Giuliani, a former top federal prosecutor in New York and senior Department of Justice official, is criminally charged in state courts in Georgia and Arizona with felonies related to his efforts to undo Trump’s defeat.

In his ruling on Friday, Bankruptcy Judge Sean Lane wrote that he “finds that dismissal of this bankruptcy case with a one year bar to refiling is in the best interests of creditors.”

Lane blasted Giuliani’s conduct in the case, writing, “The record … reflects Mr. Giuliani’s continued failure to meet his reporting obligations and provide the financial transparency required of a debtor in possession.”

Read more CNBC politics coverage

“Most significantly, none of Mr. Giuliani’s business entities have made any production [of required information] at all despite being required to do so,” the judge wrote.

“Nor has Mr. Giuliani or his entities identified any legitimate reason why the requested information should not or cannot be produced,” he added. “This failure to provide even basic disclosure about these assets is sufficient in and of itself for a finding of cause.”

A spokesman for Giuliani did not immediately respond to CNBC’s request for comment.

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Elon Musk’s X deceives customers and breaches on-line content material guidelines, EU says

Elon Musk, chief executive officer of SpaceX and Tesla and owner of X, speaks at the Milken Conference 2024 in Beverly Hills, California, May 6, 2024.

David Swanson | Reuters

The European Commission on Friday accused Elon Musk’s X of deceiving users and infringing digital content rules, putting the social media giant at risk of a hefty fine.

The commission, which is the EU’s executive arm, started an investigation last year to assess whether X is in breach of the Digital Services Act (DSA) — a piece of landscape legislation requiring Big Tech firms to better police the content on their platforms.

The body’s preliminary view, published Friday, is that X has broken rules regarding dark patterns, advertising transparency and data access for researchers. So-called dark patterns are deceptive tactics designed to push people toward certain products and services.

X’s use of the blue checkmark for verified accounts does not correspond to industry practices, the commission said, as anyone can subscribe and obtain a verified status. It added that there was evidence of “motivated malicious actors” abusing the verified status to deceive users.

The commission also accused X of putting in place design features and barriers that hinder advertising transparency, and said it fails to allow researchers to access its public data, as is required by the DSA.

“In our view, X does not comply with the DSA in key transparency areas, by using dark patterns and thus misleading users, by failing to provide an adequate ad repository, and by blocking access to data for researchers,” the European Union’s antitrust chief, Margrethe Vestager, said in Friday’s statement.

“The DSA has transparency at its very core, and we are determined to ensure that all platforms, including X, comply with EU legislation.”

X did not immediately respond to CNBC’s request for comment.

If the commission’s views are confirmed, X could face a fine of up to 6% of its global annual revenue.

“X has now the right of defence — but if our view is confirmed we will impose fines & require significant changes,” EU industry chief Thierry Breton said in a post on X.

The commission is also investigating TikTok, Alibaba’s AliExpress and Meta over similar concerns.

It comes as the EU clamps down hard on tech giants like Google and Meta. In 2022 the commission introduced the Digital Services Act, with a key part of it focused on how digital companies target users with ads.

Kevin Hart Reportedly Sued For $12M By Ex-Buddy

Kevin Hart is reportedly being sued by his former friend, Jonathan T. Jackson, in relation to his 2017 sex tape scandal.

RELATED: Play Too Much! Four Times Kai Cenat & Kevin Hart Had Us In TEARS During Their Viral Livestream

More Details On What Prompted The Lawsuit Against Kevin Hart

According to court documents obtained by Entertainment Tonight, Jackson is alleging that Hart breached a settlement agreement they came to in July 2021.

Additionally, Jackson alleges that the agreement “required Hart to pursue and advocate for the dismissal of all criminal charges against [him] and make a public statement exonerating him.” According to the outlet, Jackson was the subject of an extortion investigation after footage surfaced showing Hart having sexual relations with a woman named Montia Sabbag.

At the time, Hart was married to Eniko Parrish, who was pregnant with their first child.

According to USA Today, Jackson was charged with attempted extortion in 2018. However, the charges against him were later dropped.

Here’s Why Jonathan T. Jackson Is Suing The Comedian

According to Entertainment Tonight, the pair’s settlement agreement ordered Hart to “go live and post a video on his Instagram account.” Additionally, Hart was to assert Jackson’s innocence in the matter.

Furthermore, Hart allegedly agreed that he would leave the post up “for at least 24 hours.”

USA Today reports that Hart did take to social media to share the video on October 27, 2021. However, Jackson believes that instead of exonerating him, Hart “willfully deviated” from explicitly mentioning that Jackson did not extort him.

“…J.T. Jackson has recently been found not guilty, and those charges have been dropped against him, and I can finally speak on what I once couldn’t,” Hart told viewers at the time. “I couldn’t do it because of the legal process. It kind of put a fork in the road between he and I, and that relationship is lost. But I’m glad that now I can finally not only speak on it, but I can say I’m happy that that chapter of my life is over…”

Check out Hart’s 2021 statement below.

More Details On What The Man Is Seeking In His Suit

According to the outlet, the lawsuit asserts that Hart’s words failed to issue a “clear and unequivocal exoneration of Plaintiff.” Due to this, Jackson has reportedly encountered “enormous difficulties in obtaining acting roles.”

“Hart’s statement dilutes this intent by framing the exoneration more as a conclusion to a chapter in Hart’s own life rather than a clear and unequivocal exoneration of Plaintiff,” the lawsuit reads, per USA Today.

Jackson is reportedly suing Hart, citing “breach of written contract, fraud and intentional infliction of emotional distress.” Furthermore, he is reportedly seeking to receive over a whopping $12 million from Hart.

“[Jackson’s] legal exoneration, a pivotal moment, could not erase the years of adversity, missed opportunities, and emotional anguish inflicted upon Plaintiff and his family. Despite the courtroom victory, the shadow of unfounded allegations persisted, casting a long and enduring stain exacerbated by Hart’s role in shaping public opinion through negative media portrayal,” Jackson’s lawsuit reportedly asserts.

RELATED: Kevin Hart Roasts Katt Williams On ‘NBA Unplugged’ Over His Recent Comments About Him In Viral Interview

What Do You Think Roomies?

Drugmakers are racing to develop weight reduction tablets

Aykut Karahan | Istock | Getty Images

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Good afternoon! Several drugmakers are hurrying to capitalize on one of the next major innovations coming to the booming weight loss drug market: effective, convenient and potentially affordable obesity pills. 

Most of the weight loss and diabetes drugs available now are weekly injections, such as Novo Nordisk’s Wegovy and Ozempic and Eli Lilly’s Zepbound and Mounjaro. They are among medications called GLP-1 agonists, which have skyrocketed in popularity over the last year. 

Now these rivals and other drugmakers such as Pfizer are hoping to develop oral weight loss and diabetes drugs that are more convenient for patients to take and easier to manufacture at scale. That development may help alleviate the supply shortages plaguing the existing injectable treatments in the U.S.

Pills are also typically cheaper than injections, but it’s unclear if that will be the case with oral obesity drugs. 

Novo Nordisk has a low-dose oral version of semaglutide, the active ingredient in Wegovy and Ozempic, that costs $968.52 per month before insurance and other rebates. The pill, marketed as Rybelsus, is approved for diabetes treatment. The current injections all have list prices of around $1,000 per month. 

Pfizer on Thursday signaled that it remains in the running to develop an obesity pill after a string of setbacks last year. The company said it will advance a once-daily version of its oral weight loss drug, danuglipron, into more studies to help identify an ideal dosage. 

Pfizer disappointed investors last year after it scrapped a twice-daily version of danuglipron and a second oral obesity drug called lotiglipron. 

But Pfizer’s once-daily danuglipron is still in early-stage development. It’s also unclear if the drug giant will commit to conducting late-stage studies on danuglipron, which it needs to do before it can file for regulatory approvals. 

CFOTO | Future Publishing | Getty Images

Eli Lilly and Novo Nordisk are further ahead in the race. 

Eli Lilly is developing an oral GLP-1 called orforglipron, which helped patients lose up to 14.7% of their weight after 36 weeks in a mid-stage trial, compared to 2.3% among those who took a placebo. Eli Lilly has previously said that it expects late-stage trial results on orforglipron in 2025. 

Meanwhile, Novo Nordisk last year released phase three trial results on its highd-ose version of oral semaglutide, which is intended for weight management. The pill helped patients lose around 15% of their body weight on average after 68 weeks.

The company at the time said it plans to file for Food and Drug Administration approval in 2023. Novo Nordisk has not indicated whether it has done so. 

Novo Nordisk in March also touted data on another experimental weight loss pill called amycretin, which helped people lose 13.1% of their weight after 12 weeks in an early-stage trial. Results from a mid-stage trial are not expected until 2026. 

Amycretin suppresses appetite by targeting the same gut hormone that Wegovy mimics, which is known as GLP-1. But amycretin also targets a pancreas hormone called amylin, which affects hunger.

Here are some of the other drugmakers developing oral drugs for obesity, diabetes or both: 

Feel free to send any tips, suggestions, story ideas and data to Annika at annikakim.constantino@nbcuni.com.

Latest in health-care technology

Digital health funding shows ‘measured momentum’ this year, report says

Things are looking up for the digital health sector — at least a little bit.

Digital health startups in the U.S. raised $5.7 billion across 266 deals in the first half of 2024, a report from Rock Health on Monday found. If that pace continues, deal counts and funding dollars could surpass totals from 2019 and 2023. Digital health startups raised $8.2 billion across 420 deals in 2019, and $10.7 billion across 498 deals last year, the report said. 

The “pandemic-fueled funding cycle” from 2020 to 2022 remains hard to compete with, according to Rock Health. Investors at the time were flocking to health-care companies and funding peaked at $29.2 billion in 2021.

Rock Health said that Series A activity was especially strong in the first half of 2024, though Seed rounds and Series B checks were also popular. Seed, Series A and Series B funding made up nearly 85% of all labeled raises for the period, the report said. 

The firm calls rounds without a public title (like Series A, for instance) “unlabeled rounds.” Startups will often raise unlabeled rounds to avoid taking valuation haircuts and push through challenging markets, though they often don’t stave off tough conversations forever. 

Rock Health said the overall percentage of unlabeled digital health deals peaked at 55% in the fourth quarter of 2023, and decreased to 47% and 33% in the first and second quarters this year, respectively.  

“This waning could mark the beginning of our return to a ‘more normal’ cadence of labeled raises,” the report said.

Many Healthy Returns readers can probably guess what’s coming next: Artificial intelligence drew investors to many early-stage digital health companies in the first half of this year. Nearly 40% of all the digital health companies that raised Series A rounds use AI, and 34% of the sector’s total funding went to companies that deploy the tech in some capacity. 

The ground may also be thawing in the digital health IPO market, which went almost two full years without seeing any public offerings. The health-care payment software vendor Waystar and the precision medicine company Tempus AI went public in June, while the pregnancy monitoring company Nuvo went public via SPAC in May.

Rock Health said this exit activity mirrors the slight uptick in IPOs across broader markets. 

To sum up, “early-stage checks are growing, the proportion of unlabeled deals is tapering, and the digital health IPO market is showing early signs of life,” the report said. 

We’ll have to see what the rest of the year has in store.

Feel free to send any tips, suggestions, story ideas and data to Ashley at ashley.capoot@nbcuni.com.

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A ‘radically inclusive’ out of doors house for LGBTQ+ and folks of shade

Participants during the snowboarding activity with the Hoods to Woods Foundation at Big Snow American Dream in East Rutherford, New Jersey on June 13, 2024.

Danielle DeVries | CNBC

EAST RUTHERFORD, N.J. — For 16-year-old Zyshawn Gibson, snowboarding down the indoor ski park at Big Snow American Dream in East Rutherford, New Jersey, was a welcome change of scenery.

Gibson’s participation at the ski park was made possible through the Hoods to Woods Foundation, a nonprofit based in New York and New Jersey that “promotes awareness of the outdoors to inner city children through snowboarding,” according to the organization’s website. Through its 15-year history, Hoods to Woods has helped hundreds of underserved youth such as Gibson develop a new interest and outlet through snowboarding, co-founder Omar Diaz estimated.

“It keeps me out of the house,” Gibson told CNBC from a lounge room in the Big Snow complex. “It’s a different thing to do, instead of being outside in the streets and being in danger and stuff like that.”

Hoods to Woods, the brainchild of Diaz and co-founder Brian Paupaw, is dedicated to providing new opportunities for teenagers and young adults who come from similar backgrounds to their own. The group hosts weekslong programs across urban areas in the two states.

Participants during the snowboarding activity with the Hoods to Woods Foundation at Big Snow American Dream in East Rutherford, New Jersey on June 13, 2024.

Danielle DeVries | CNBC

The organization is just one of several across the United States working to bringing people of color to outdoor activities, including winter sports — spaces where they are often marginalized and underrepresented.

A 2019-2020 participation study released by Snowsports Industries America showed that the participation for white Americans remained at 67.5%. In comparison, Asians accounted for 7.7% of the participants, while Black people made up 9.2% and Hispanics came in at 14%.

Similarly, a demographics study updated by the National Ski Areas Association in 2023 found that white participants represented 88.1% of guests.

One factor that contributes to this divide is the high barrier to entry for these winter sports, given the average expenses when it comes to equipment and transportation. The same study from Snowsports Industries America revealed that more than half of winter sports participants in 2019 through 2020 made over $75,000 a year.

Breaking down barriers

But organizations such as Hoods to Woods have made it their mission to break down these walls.

The nonprofit started in 2009 as an effort from Paupaw and Diaz, two seasoned snowboarders, to give back to their communities by introducing youth to the outdoors through snowboarding.

Co-founder Omar Diaz (right), his son Sebastian (middle) and volunteer Katie Korpacz pose for a photo during the snowboarding activity with the Hoods To Woods Foundation at Big Snow American Dream in East Rutherford, New Jersey on June 13, 2024.

Danielle DeVries | CNBC

“The representation of people that looked like me and even came from my environment was important, because you could be out on the mountain and you hear people talking but they don’t sound like you,” Diaz said. “You grow up in an urban environment, and in the mountains everyone around you sounds completely different.”

The entire program — including snowboarding lessons, transportation and meals — is free for its youth participants. Paupaw and Diaz raise money to pay for travel and food.

The group also accepts donations of gear or gifts, while Big Snow has lent its facilities at no charge to the nonprofit for years.

Curating communities in the outdoors

Outside of Hoods to Woods, there are other nonprofits in the United States dedicated to similar causes.

For instance, Edge Outdoors in Washington state, aims to “[address] the invisibility of Black, Indigenous, women of color in snow sports,” founder Annette Diggs told CNBC. The group also works to include women who belong to the LGBTQ+ community, including both trans and queer-identifying participants.

“One thing that’s unique about Edge is that we work with the community — a lot of our participants are being taught by people from their community, meaning Black and brown people,” she said.

Ciera Young, who is Black and has multiple sclerosis, learned adaptive skiing through a scholarship from Edge.

“I was just so grateful that my instructors listened to me, and they said, ‘We want to make sure you’re able to ski the way you want to ski and that you feel empowered,'” she said. “Being in a space with other BIPOC folks was incredible.”

Zyshawn Gibson, left, and Tah’gee Van Dunk during the snowboarding activity with the Hoods to Woods Foundation at Big Snow American Dream in East Rutherford, New Jersey on June 13, 2024.

Danielle DeVries | CNBC

Meanwhile, Vermont-based nonprofit Unlikely Riders, created in 2020, is planning to build a people of color-stewarded outdoor community center, which co-founder Abby Crisostomo envisions will one day be a “radically inclusive space.”

In the four years since its founding, Crisostomo estimated that Unlikely Riders has hosted more than 145 events, donated 2,500 pieces of winter gear and instructed more than 570 community members for free. In addition to skiing and snowboarding, the group also introduces people of color and LGBTQ+ communities to mountain biking while fostering a welcoming environment.

Small businesses, such as Skida or the people of color-owned ToughCutie, have been instrumental in championing the efforts of Unlikely Riders by donating gear and hosting events.

Coming full circle

Besides their mission of inclusivity, the co-founders of Hoods to Woods also emphasized the importance of mentorship within the program, including checking in with their community participants and helping with financial literacy, college applications and employment offers.

“I saw kids who had behavioral problems at school and at home, do a 180 because they were able to be in environment where they could be themselves and think freely,” Paupaw said. “To me, that’s one of the most powerful things I’ve witnessed as a human being, but also as a co-founder of this program.”

Through Hoods to Woods, Diaz, Paupaw and their volunteers have built many relationships with their participants. Some come back to volunteer after graduating from their programs.

Participants and volunteers during the snowboarding activity with the Hoods to Woods Foundation at Big Snow American Dream in East Rutherford, New Jersey on June 13, 2024. More than half of the program’s volunteers are certified snowboard instructors, said co-founder Omar Diaz.

Danielle DeVries | CNBC

“This is the perfect combination,” Diaz told CNBC. “Giving back to the youth, changing their lives, doing it in a place that I love — I’m happy. There’s no better way to give back.”

Miquan Chisholm, 27, was one of the program’s first participants 15 years ago. He’s now a dedicated volunteer to the cause. His daughter is just 3 now, but he envisions a future in which she will one day join the community.

“It changed my life because it gave me a different view on life. I never thought that I would be snowboarding as a Black person … And I fell in love with it,” he said. “Hoods to Woods definitely gave me the confidence to try new things and just be open-minded about things in life and realize there’s so many opportunities for people out there.”

Don’t miss these insights from CNBC PRO

Biden Hits Trump with $50 Million Advert On Abortion And Mission 2025

The Biden-Harris campaign is launching a $50 million ad campaign in July, using Trump’s own words and his Project 2025 to highlight the threat he poses to women’s and girls’ health freedom. The “Her Own” ad will run in all battleground states.

The ad will remind voters that Donald Trump is bragged about overturning Roe v Wade and is responsible for overturning Roe v. Wade, using the Republican presumed nominee’s own words from the June debate in which Trump bragged about appointing three “great” Supreme Court justices who helped “kill” Roe and even said, “it’s been a great thing.”

NARRATOR:
For almost 50 years, Roe v. Wade was the law of the land, ensuring a woman could make her own health care decisions.

TRUMP:
And what I did is, I put three great Supreme Court Justices on the Court, and they happened to vote in favor of killing
Roe v. Wade. It’s been a great thing.

NARRATOR:
Ask yourself, who do you want in the White House: The man proud to overturn
Roe v. Wade, or the President fighting for your rights?

PRESIDENT BIDEN:
I’m Joe Biden and I approve this message.

The Biden-Harris campaign will run the spot “on pivotal high viewership moments to reach politically diverse audiences, such as The Bachelorette season premiere, the Olympic Games on NBC, and the Republican National Convention, where Trump and his extremist Project 2025 agenda will be under a national spotlight.”

Days ago, conservative leaders warned of a coming split in the Trump coalition due to his wanting to water down their abortion platform because he knows he can’t win running as the guy who will institute a nationwide abortion ban, and yet that’s exactly what the Trump/conservative coalition presidential policy agenda Project 2025 lays out.

It’s more than fair for voters to be skeptical of any Hail Mary promises from Republicans on abortion after they spent decades trying to get where we are today, and several of their Supreme Court justices misled voters and Senators about seeing Roe as established precedent.

Republicans have struggled as the nation turned against them on abortion after seeing the results of Republican policy in action. They tried changing the messaging, in what amounts to their usual belief that they can flat out lie to voters and get away with it, but given the medical torture their overturning of Roe is inflicting on a ten-year-old girl and women across the country, the spin has failed to take root, so we saw Trump lying about “after birth” abortion at the debate and now scrambling to change a deadly platform after bragging about it.

Women plan to “Roe the Vote” this November, and that’s why Donald Trump is trying to run from his own “achievement” of stealing rights from girls and women.

“Donald Trump brags that ‘killing Roe v. Wade’ has been ‘a great thing.’ So, let’s take a closer look at what Donald Trump thinks is ‘great’: a ten-year-old rape victim had to leave her home in Ohio and travel several hours to Indianapolis in order to receive an abortion. A Texas woman miscarried in the lobby restroom of an emergency room after front desk staff were too scared to admit her. OBGYNs fled Idaho for fear of being prosecuted under the state’s extreme abortion ban,” Biden-Harris 2024 Senior Spokesperson Lauren Hitt said in a statement sent to PoliticusUSA. “If Trump is reelected, he will go even further –  punishing women who receive an abortion, banning abortion nationwide, and carrying out the rest of the extreme Project 2025 agenda. The only thing standing between American women and Trump’s cruel attacks on reproductive health care is Joe Biden and Kamala Harris.”

In years past, pundits would have decried this as fear-mongering, but tragically today it’s a reality and Democrats have been proven right about the threat Republicans’ pose to basic established freedoms. If one reads Project 2025, it’s clear many more freedoms are on the chopping block.

The issue of abortion is a game changer for Democrats, and this ad comes at a pivotal time when they need to refocus their attention on the issues of abortion and democracy for the election instead of petty power grabs by paid representatives. Democrats need to stop being fearful babies prioritizing their own races and start standing up strong and proud over their platform to do their part for the future of our union.

Lives are literally at stake.

Listen to Sarah on the PoliticusUSA Pod on The Daily newsletter podcast here.

Sarah has been credentialed to cover President Barack Obama, then VP Joe Biden, 2016 Democratic presidential candidate Hillary Clinton, and exclusively interviewed Speaker Nancy Pelosi multiple times and exclusively covered her first home appearance after the first impeachment of then President Donald Trump.

Sarah is two-time Telly award winning video producer and a member of the Society of Professional Journalists.

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