Samsung Joins The Trillion Dollar Club

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Daniel Bock· Host0:14

[instrumental music] Here's your morning brief for Wednesday, May 6th. I'm Daniel Bock for The Wall Street Journal. President Trump has said the US would pause its operation to guide commercial ships through the Strait of Hormuz. Project Freedom, as it's being called, began on Monday, prompting Iran to fire at ships in the waterway and target energy facilities in the United Arab Emirates. Trump said, quote, "Great progress had been made toward a peace agreement with Tehran," though he also said that a preexisting effort to blockade Iranian ports will continue. Shares in Novo Nordisk have rallied after first quarter sales surged 30%. It marks a turnaround for the maker of weight loss drug Wegovy, which has been locked in stiff competition with US rival Eli Lilly and trying to offset a bruising obesity drug price war. But Novo said the launch of its obesity pill is the best volume launch of a GLP-1 product ever, with over 2 million people already on prescription. Whether this growth will continue in the coming quarters will partly depend on the success of Eli Lilly's weight loss pill, which only launched at the end of the first quarter. And Korean tech giant Samsung has joined a rare league of companies worth more than a trillion dollars. Its shares have more than doubled so far this year, thanks to AI's red-hot demand for its memory chips. Its