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New York Oprah Winfrey famously proclaimed"I love bread!" in a Weight Watchers commercial three years ago. But carbs aren't cutting it for the company anymore.
Shares of WW — Weight Watchers' new name — closed down 34% on Wednesday after the company shocked Wall Street with poor earnings and sales.CEO Mindy Grossman attributed the problem to the keto diet, a popular eating regimen that makes bread and other carbs taboo. She said during a call with analysts Tuesday that keto is"becoming a cultural mean," and she even called it a"keto surge." Wall Street is clearly nervous, too.
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Oprah’s stake in Weight Watchers has shrunk by half a billion dollarsSince Weight Watchers announced a name change and a new tagline in September, the company’s stock has dropped by 60 percent.
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Here comes Weight Watchers...Weight Watchers is set to report fourth-quarter results after Tuesday's closing bell.
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WW, formerly Weight Watchers, craters 28 percent after posting weak 4Q results and 2019 forecastWW, formerly known as Weight Watchers, shares cratered 28 percent Tuesday after the company posted disappointing fourth-quarter results and gave a weak 2019 forecast as the company tries to pivot to a wellness company from a diet brand.
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Here comes Weight Watchers... (WTW) | Markets InsiderWeight Watchers crashes as earnings guidance is less than half of what was expected
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Weight Watchers stock plummets more than 30% after earnings show mixed results, weak guidance
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Stocks making the biggest moves after hours: Weight Watchers, Papa John's, Mylan and moreSee which stocks are posting big moves after the bell on February 26.
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Oprah Winfrey's stake in Weight Watchers falls by $48 million after shares crater 30 percentAs of Tuesday's close, Winfrey's stake in Weight Watchers was valued at $160.18 million. It dropped by $45.7 million in a matter of minutes after the company reported disappointing earnings.
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Weight Watchers' earnings fall far short, and stock plunges nearly 30%WW, the company that was known for years as Weight Watchers, is trying to 'course correct' after some business blunders left Wall Street severely disappointed.
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Oprah-backed Weight Watchers tumbles on profit warningNEW YORK (AP) — Oprah Winfrey stands to see the value of her investment in Weight Watchers shrink after the company said it hasn't signed up as many subscribers as it hoped this winter and expects...
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WW, formerly Weight Watchers, saw its shares crater 25 percent TuesdayWeight Watchers said it will tap spokeswoman and board member Oprah Winfrey to play a central role in the company’s spring TV and digital marketing campaign.
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Stocks to open lower | Trump and Kim meet | Weight Watchers cratersFutures are lower ahead of the Wednesday Wall Street open, in trading similar to Tuesday's action.
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