Novo Nordisk A/S made an unsolicited bid for US biotech firm Metsera Inc., sparking a heated battle with Pfizer Inc. to get their hands on weight-loss treatments that both drugmakers want in order to regain lost ground in the booming market.

Chipotle Mexican Grill Inc. shares plummeted after the fast-casual chain cut its outlook for a third time this year as diners pulled back from eating out, a fresh warning sign for consumer spending.

Wall Street pumped the brakes on a furious stock rally after the Federal Reserve tempered expectations for a December rate cut and Meta Platforms Inc. tumbled 11% as the giant is taking on debt to fund its artificial-intelligence push.

Mark Zuckerberg warned that Meta Platforms Inc. will need to spend even more aggressively on artificial intelligence in the year ahead, reigniting concerns from investors who sent its shares plunging on concerns that the massive investments won’t pay off.

Estée Lauder Cos.reported profit that surpassed Wall Street’s expectations, a sign the cosmetics company’s turnaround efforts are starting to pay off despite rising costs.

Stellantis NV said it expects one-time charges in the second half of the year as political, economic and regulatory pressures force the automaker into making strategic changes.