In Brief
Oprah helps Weight Watchers gainNEW YORK — Oprah Winfrey’s loss is Weight Watchers’ gain.The former talk show host, who bought a nearly 10 percent stake in the weight loss company last year, sent shares soaring Thursday after saying in a new ad that she’s lost more than 40 pounds on the plan, all while eating pasta and tacos.Shedding pounds is Winfrey’s financial gain as well as Weight Watchers.The media mogul spent about $43.2 million in October 2015 for 6.4 million shares. On Thursday, that stake was worth about $77 million, as its shares rose 15 percent to $12.12 in early trading.
Mars criticizes paper on sugarNEW YORK — Mars Inc., the maker of Skittles and M&M’s, is breaking ranks with other food companies. It’s denouncing an industry-funded paper that says recommendations on limiting sugar are based on weak science.The paper drew criticism this week because it was paid for by a group whose members include Coca-Cola, Hershey and Red Bull.Mars — also a member of the group, the International Life Sciences Institute — said the paper undermines the work of public health officials and makes all industry-funded research look bad.
Rite Aid has ‘difficult’ 3QNEW YORK — Rite Aid reported a 75 percent drop in third-quarter profit in what executives called a “difficult” environment in which the company is being acquired by rival Walgreens.Walgreens Boots Alliance Inc. and Rite Aid earlier this week agreed to sell 865 stores to ease concerns of anti-trust regulators. It has been more than a year since the nation’s largest and third-largest drugstore chains announced that they would attempt to merge in a $9.4 billion deal.New generic drugs also hit the company’s sales.Rite Aid, based in Camp Hill, Pa., earned $15 million, or 1 cent per share. Earnings, adjusted for non-recurring costs, were 2 cents per share, the company said Thursday, a penny shy of Wall Street expectations.
In Calif., Uber pulls self-driving carsSAN FRANCISCO — Uber pulled its self-driving cars from California roads after state regulators moved to revoke their registrations, officials said Wednesday.The move comes after a week of talks failed.Hours after Uber launched the service in its hometown of San Francisco last Wednesday, the DMV threatened legal action if the company did not stop. The cars need the same special permit as the 20 other companies testing self-driving technology in California, regulators argued.Uber maintains it does not need a permit because the cars are not sophisticated enough to continuously drive themselves.The DMV said the registrations for the vehicles were improperly issued because they were not properly marked as test vehicles.
