Altria has raised its dividend 61 times in 57 years and yields ~6%, while Realty Income has raised its payout 115 consecutive quarters and yields ~6%.
Kinder Morgan carries a $9.6 billion project backlog, over 60% tied to power generation, while AT&T uses just 46% of adjusted EPS to fund its dividend.
VICI Properties yields ~7.5% with 100% portfolio occupancy and 39.6-year average lease terms, but its stock trades well below the average **** yst target of $31.
Just released. Our **** ysts combed the entire stock market and named the ten best stocks to buy right now, and Altria didn't make the cut. Enter your email to see the names that beat MO. The report is free. Enter your email and see if any of your stocks made the cut.
Retirees need two things from a dividend stock: the check must arrive on schedule, and it must grow faster than the cost of groceries. This month's list covers five cash-generating businesses in five different industries: tobacco, net-lease real estate, gaming real estate, natural gas pipelines, and telecom. In every case, earnings or cash flow will cover the payout, and each company has years of payment history behind it. Several of them pay in November, including Realty Income (NYSE:O), whose next monthly dividend of $0.2715 a share is scheduled to arrive on November 13.

#november #raised

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Washington has a way of making the economy feel good. But Jamie Dimon wants Americans to look at what's fueling the high.
Speaking at the Economic Club of Chicago earlier this month, the CEO of JPMorgan Chase (NYSE: JPM) compared government spending to a powerful drug — one that can boost corporate profits while setting the stage for a painful aftermath.
Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being one
A single line on your car insurance policy could be inflating your premium by up to 30% — here's what to change

#moneywise #finance

As we approach Gameweek 9 of the 2026/27 Fantasy Premier League campaign, getting your captaincy choice right is essential for driving your rank up the mini-league standings.
With key injuries shaking up forward lines, red-hot strikers in the form of their lives, and marquee fixtures dominating the schedule, fantasy managers have several intriguing routes to consider.
Below is our breakdown of the premier GW9 FPL captaincy pick options to help you make an informed decision before the deadline.
With João Pedro sidelined through injury and Cole Palmer searching for consistent rhythm, Morgan Rogers has stepped up as the central spark in Chelsea's attacking setup.
Operating with complete creative freedom, Rogers provides a dependable route to points as Chelsea travels to face a struggling Manchester United backline.

#gameweek #cole

Will Panthers make a trade to fix banged-up cornerback room? Dave Canales weighs in appeared first on ClutchPoints. Add ClutchPoints as a Preferred Source by clicking here.
The Carolina Panthers have a growing problem in their secondary. Head coach Dave Canales, though, is not ready to reveal whether the team will seek outside help before the NFL trade deadline. Following Thursday night's 27-19 loss to the Green Bay Packers, Canales addressed the possibility of a roster move. He also pointed to an internal option who could soon get his opportunity. With several cornerbacks sidelined, Carolina's depth is facing an increasingly difficult test.
Canales on whether latest CB injuries might prompt a trade: Defers to Dan Morgan, says Corey Thornton will be getting an opportunity “real soon.” pic.twitter.com/fqjPDhrwHJ
— Joe Person (josephperson) October 30, 2026
Watch sports LIVE with fuboTV (free trial)

#dave

Data centers have emerged as a national issue during this midterm election cycle, and candidates for the House and Senate have seized on it in their campaigns.
But state and local officials actually have more sway over data center construction and energy infrastructure, so the winners of lower-profile races may hold the economy's future in their hands.
Hyperscalers have been spending hundreds of billions of dollars a year, with forecasts for 2027 topping $1 trillion. JPMorgan has estimated AI-related investment was responsible for about one-fifth of GDP growth over the past year. ******* ysts at ING believe AI will account for a third of growth in 2026.
With Election Day just over a week away and early voting already in full swing in many states, expectations for big Democratic gains could weigh on the stock market, which has sold off in recent days on fears the AI boom will go bust.
If there is a further stock slump, it will be because a "blue wave" at the state and local levels will usher in lawmakers opposed to data centers, Thierry Wizman, global FX and rates strategist at Macquarie, said in a note on Monday.

#local #House

Morgan Gibbs-White is expected to be fit for Nottingham Forest's crucial trip to Ipswich.
The England international missed Sunday's 1-0 defeat to ******* nal with a muscle injury having missed training in the week.
Gibbs-White suffered the problem in last week's loss at Crystal Palace and Forest missed his invention as they slipped to a harsh defeat against the Gunners.
It left them in the Premier League's relegation zone - and goalless and winless in the top flight - going into Friday's trip to Portman Road.
"He was very close to playing and he said he's fine but he felt it a little bit," said Glasner.

#white #defeat #england #arsenal

Utah Royals FC fell 2-0 at America First Field against the Kansas City Current on Saturday evening in front of 10,809 fans, the club's second-highest attendance this season. Unable to secure the victory, the squad will now be forced to wait yet another week to officially clinch its first playoff berth in club history.
While the Royals were unable to earn the result in the battle at home, Real Salt Lake traveled to Kansas City, earning a 3-1 victory to lift itself to a second road win in the 2026 season. The victory earned the visitors an important three points to keep the push for the postseason alive in the doubleheader evening for Utah professional soccer against Sporting Kansas City.
As the Utah Royals took the pitch on Saturday evening the home side was without the heartbeat of its midfield as **** anese star Mina Tanaka was out due to a hamstring injury sustained while on international duty. URFC captain Paige Cronin earned an impressive milestone Saturday against the Current, starting in her 100th NWSL match.
Iron woman Kate Del Fava returned to the pitch following her USWNT debut as a second-half substitute in Tuesday's 2-2 draw against Spain. The defensive wall not only leads the Royals in possessional passes and clearances but, made her 80th consecutive start today, the longest active streak for a single club. Del Fava has played 7,661 straight minutes, the second longest streak in club history while also having played every one of the 7,211 minutes Utah has played as a team in 79 games since the Return to Royalty in 2024.
Real Salt Lake got off to a near perfect start against Kansas City to earn just its second road win of the 2026 MLS season with goals by French attacker Morgan Guilavogui and Spanish Rookie Sergi Solans in under 15 minutes. The score by the Frenchman in the 12th minute marked his third of his first MLS season, while 2026 RSL Golden Boot leader Solans netted an impressive 12th MLS goal of his rookie season to double the visitor's lead.

#Royals

Who was the Murfreesboro area TSSAA girls athlete of the week for Oct. 12-18?
You can vote below.
Nominees are:
Claire Morgan, Blackman soccer: Scored all three goals in a 3-0 win over Riverdale in the District 8-AAA semifinals.
Gabby Woods, Central Magnet soccer: Earned district tournament MVP awards in leading the Lady Tigers to the ***** le. She combined for three goals and an ***** ist in the tourney.

#murfreesboro #nominees #morgan #blackman

CALGARY. Alberta (AP) — Yegor Sharangovich scored the go-ahead goal with 4:28 left and the Calgary Flames ended Carolina's seven-game winning streak, beating the defending champion Hurricanes 3-2 on Saturday night for their second victory of the season.
Morgan Frost set up the winning goal after scoring on a power play in the second period. Matvei Gridin also scored, and Devin Cooley made 34 saves to help Calgary improve to 2-6-0.
On the deciding play, Frost sent a saucer pass across the slot to Sharangovich, who one-timed it as soon as the puck landed on his stick and picked the top corner, sending goalie Brandon Bussi's water bottle flying.
Jesperi Kotkaniemi and Jalen Chatfield scored for Carolina, and Bussi made 31 saves. The Hurricanes dropped do 7-2-1.
Hurricanes: At Vancouver on Tuesday night.

#sharangovich

Harry Kane has received another ringing endorsement in his bid for the Ballon d'Or, with England international Morgan Rogers arguing that the Bayern Munich striker has done more than enough to claim football's most prestigious individual honor.
Rogers believes Kane's accomplishments have pushed the boundaries of what could reasonably have been expected from him, pointing to his remarkable combination of club and international success.
"Harry Kane should win the Ballon d'Or. He defied what people can imagine that he could do. Treble, and hattricks in finals, Goals in the World Cup, goals for Bayern. What more can he do? That has to be rewarded," Rogers told Hayters TV (as captured by iMiaSanMia).
It is difficult to argue with the basic premise. Kane has continued to produce at an extraordinary level for Bayern while also delivering on the biggest stages for England. His ability to combine ridiculous scoring numbers with major trophies has strengthened his case considerably.
The Ballon d'Or debate will inevitably include several other elite candidates, but Rogers believes Kane's résumé speaks for itself.

#bayern

Actor C.W. Morgan has passed away at the age of 72. He was known for playing Billy Loomis' father in Scream and Scream 3. According to medical reports, Morgan died on August 30, 2026, though the reason has not been disclosed.
The confirmation of his death comes from Los Angeles County Medical Examiner records seen by TMZ and Entertainment Weekly. According to the records, Morgan died in a bathroom in Los Angeles. An LAPD spokesperson told TMZ that the death appears to be a result of natural causes.
Morgan was born in Bisbee, Arizona, and began his acting career in entertainment by starring in the 1991 TV series, Midnight Caller. Following that, he appeared in the 1992 TV movie, The Last of His Tribe. Besides the Scream movies, Morgan has also appeared in the film Metro and the TV show Nash Bridges as himself. In addition to his film and television work, he also lent his voice to the 1997 video game, The Last Express.
While his appearances were brief, his character, Hank Loomis, holds great importance to Scream fans. In the original film, it is revealed that Hank had an affair with Sidney Prescott's mother, which eventually led to his son, Billy, becoming Ghostface.
Morgan's daughter, Renata Macfie, paid tribute to the actor on Facebook. "I'm never going to have the right words for this post. Losing you has left the biggest hole in my heart. I will carry on our Mulholland drives and our Starbucks outings. I'm grateful and lucky to have had you as my daddy. My Guck. Rest easy, bubby. Life will never be the same without you and your poorly timed jokes that I inherited from you. Love you endlessly (no more fighting about that anymore, I win)."

#hank

Cristiano Ronaldo is at the centre of a media storm once again after his "well-wisher", Piers Morgan, leaked brutal text messages from him about a British broadcaster who criticised him.
Ever since Cristiano Ronaldo abruptly left the Portuguese national team in the middle of an international break, he's dominated the headlines.
His statement, in which he basically demanded that Jorge Jesus apologise for disrespecting him, comparing himself to Pele and Maradona, went viral.
It was criticised by British broadcaster Simon Jordan in an intense back-and-forth with Piers Morgan, and the latter has brought Ronaldo's take on it to the public.
People know by now that Ronaldo is not afraid of speaking his mind, and criticism affects him hard, regardless of who it comes from.

#british

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For workers wondering how far artificial intelligence could go, JPMorgan Chase CEO Jamie Dimon has a straightforward answer — AI is going to change the job market, whether people are ready for it or not. Some jobs will disappear, others will change and new ones will likely emerge. But Dimon warned that the speed of that transition could matter just as much as the technology itself.
"As a business person, my view is don't put your head in the sand," Dimon said at the World Economic Forum's annual meeting in Davos, Switzerland, in January. "It is what it is. We're going to deploy it. Will it eliminate jobs? Yes. Will it change jobs? Yes. Will it add some jobs? Probably."
Don't Miss:
Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $100.

#earn #benzinga #chase

Jamie Dimon has spent much of this year warning that the bond market is a problem waiting to happen. On April 28, at a conference hosted by Norway's sovereign wealth fund, the JPMorgan Chase CEO said there would be "some kind of bond crisis," according to TheStreet.
The debt he had in mind was mostly owed by governments. But Dimon has long argued that the pain lands somewhere else.
In a 2025 Fox Business interview, he said bond market volatility hurts the people raising money, small businesses included. He admitted he could not tell whether trouble was six months or six years away. This time, he named the next group in line.
Also read: Scott Bessent just made a bold move on the bond market
Speaking on the sidelines of a JPMorgan event in London on Oct. 6, Dimon said the worldwide scramble for capital could begin to squeeze corporate borrowers, Bloomberg reported. Investors will keep asking for more, he said. At some point, that feeds into corporate debt and credit spreads.

#debt

The stock market has its dips, but historically, Apple (APPL) stock has done well for investors. As of Oct. 1, it traded for $330.32 — a nearly 30% yearly increase, according to Yahoo Finance. Take it back further to 2016, and the stock has gone up by a little over 1,063%.
As a new investor, you might be thinking Apple stock is the perfect buy. However, as with any other investment, it's not without risk. These are some of the most common mistakes investors make when buying stocks, according to financial advisors Ed Peagler and Xintian **** .
As per J.P. Morgan, the general advice when it comes to stocks is to put no more than 10% to 20% of your total portfolio in one stock. Of course, when you see the numbers rising on a particular stock, it's easy to get excited and make investment choices based on that.
This can be a mistake, though.
"Apple is a spectacular company that most people already know and love. It's no surprise, then, that many individuals end up with too large a position in their overall portfolio. And they don't feel like they have a high concentration stock because it's Apple. They trust it," said Xintian **** , CPA, senior tax manager at Alexander Accountants, CPAs. "But high concentration is high concentration. And it amplifies the risk of an unsafe, underestimated stock."

#concentration #according

JPMorgan just raised its dividend 10% while still paying out only 28% of earnings, and Visa's even lower 23% payout fuels years of double-digit raises.
Cisco's AI infrastructure orders hit $9.3 billion, lifting earnings faster than its dividend, while T. Rowe Price yields 5% at just 10 times earnings.
Building a portfolio and living off one are two completely different skills, and almost ******* ody teaches the second. This problem is what The Definitive Guide to Retirement Income helps, and it is free today. Read more here. (Sponsor)
The best dividend raises come from companies that pay out a small piece of what they earn. JPMorgan Chase (NYSE:JPM) just showed how that works: it lifted its quarterly dividend from $1.50 to $1.65, a 10% increase, and the new annual rate still matches only 28.3% of trailing earnings. The five companies below all fit that pattern. Each has strong earnings and a payout ratio low enough to fund many more raises. A long streak of past increases supports the case for some of them, but the reason they're here is how much room each has to keep advancing.
Visa (NYSE:V) yields only about 0.72% on its $2.68 annualized dividend at a share price of $370.97. That's a small yield, but the dividend has a lot of room to grow. The payout uses about 22.8% of trailing diluted EPS of $11.75, and Visa's trailing operating margin is 66.1%.

#payout #trailing

Capital One (COF) paid $390M for failing to flag money laundering, then faced suit for closing Trump-linked accounts; JPMorgan (JPM) faces a similar lawsuit.
Fewer than 1% of over 8,000 CFPB debanking complaints alleged political bias, yet federal programs like Operation Choke Point cut off entire industries.
FinCEN withdrew two proposed crypto reporting rules, but compliance teams will stay cautious until courts rule on banks' right to close any account freely.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
American banks are caught between two kinds of punishment. If they miss dirty money, regulators fine them. If they flag it and close the account, they get sued for debanking. Capital One (NYSE:COF) has paid on both sides, and its record shows which way the pressure is moving.

#capital #debanking

(Bloomberg) -- Billionaire Ray Dalio warned that artificial intelligence is a "classic bubble" that is nearing a bursting point thanks to rising interest rates and the need to turn wealth into cash.
Most Read from Bloomberg
Apple to Launch Doorbell, Lock, Thermostat Developed With LG
Deeply Distressed US Loans Rise to Highest Level Since Pandemic, JPMorgan Says
New Hazard for Treasuries Hides in Bond Futures' Fine Print

#launch

(Bloomberg) -- Cryptocurrencies fell on Wednesday as a wave of forced selling swept across digital-asset venues, with broader market jitters further weighing on risk appetite.
Most Read from Bloomberg
Apple to Launch Doorbell, Lock, Thermostat Developed With LG
Deeply Distressed US Loans Rise to Highest Level Since Pandemic, JPMorgan Says
SpaceX in Talks to Borrow $40 Billion to Buy Nvidia Chips

#launch #developed #deeply

FYEE beat JEPI on a $100,000 investment in 2026, paying $7,023 versus $6,070, but FYEE's quarterly payout has fallen from $0.82 to $0.56 per share.
JEPI's monthly distributions better match recurring expenses for retirees, while FYEE's quarterly schedule suits investors who reinvest or can wait between payments.
FYEE's lower share price ($30 vs. JEPI's $56) means $100,000 buys nearly twice as many shares, which is why it delivers more cash despite lower per-share payouts.
Building a portfolio and living off one are two completely different skills, and almost ***** ody teaches the second. This problem is what The Definitive Guide to Retirement Income helps, and it is free today. Read more here. (Sponsor)
The JPMorgan Equity Premium Income ETF (NYSEARCA:JEPI) built its following on a simple promise. It holds lower-volatility U.S. stocks, adds income from S&P 500 call-option premium, and sends a check every month. JEPI holders value that rhythm, and JEPI remains the default name in covered-call income. On an identical $100,000 investment this year, though, the Fidelity Yield Enhanced Equity ETF (CBOE:FYEE) has paid more cash while writing far fewer checks.

#income #quarterly

JPMorgan Chase (JPM) CEO Jamie Dimon sharpened his warning about the risks of a global bond sell-off on Tuesday, saying the world's massive competition for capital could begin squeezing corporate borrowers.
Dimon warned that the combination of rising government borrowing costs and spending on the AI boom could spill into corporate credit markets, pushing up the costs for companies to refinance or raise new debt.
"There will be a point where the market will ask for more and more and more, and yeah, at one point that'll feed into corporate debt, corporate credit spreads, and things like that, which is how it normally happens," Dimon said in a Bloomberg interview on the sidelines of a JPMorgan event in London.
"The best thing to do with any of these things is deal with it before it becomes a crisis. If it becomes a crisis, we will deal with it. It just will be in a much less pleasant way," he added.
The warning comes as a global rout in bonds has pushed longer-term borrowing costs sharply higher in recent weeks, with the benchmark US 10-year Treasury yield recently surpassing heights not seen since 2002.

#credit

Options traders price NVDA at 50% odds of hitting $6 trillion by Oct. 30, needing just a 4% gain to roughly $249 a share.
Morgan Stanley restored NVDA as its top chip pick with a $300 target, while TSM's Oct. 15 earnings give the first read on AI foundry demand.
NVDA's revenue surged 106% and net income rose 126% last quarter, yet the stock's 28% year-to-date gain trails the semiconductor sector's 96% return.
Building a portfolio and living off one are two completely different skills, and almost ****** ody teaches the second. This problem is what The Definitive Guide to Retirement Income helps, and it is free today. Read more here. (Sponsor)
No company has ever been worth $6 trillion, yet a CNBC options-pricing ****** ysis put the odds of NVIDIA (NASDAQ:NVDA) reaching that level by the end of October at about 50%. The same pricing gave it about 13% odds of crossing within the week of Oct. 5.

#odds #options #trillion #morgan

SpaceX shares surged 8% Monday after Morgan Stanley reiterated its $300 price target, calling the stock "cheap and getting cheaper."
Musk confirmed plans to rename ****** eX's AI unit to ****** eXSI, adopting Trump's preferred "super intelligence" term, with no timetable given.
The rally pushed Musk's estimated net worth above $1.03 trillion, exceeding Taiwan's entire annual GDP of $977 billion.
Building a portfolio and living off one are two completely different skills, and almost ****** ody teaches the second. This problem is what The Definitive Guide to Retirement Income helps, and it is free today. Read more here. (Sponsor)
Shares of ****** eX (NASDAQ:SPCX) rose sharply Monday after two developments. First, CEO Elon Musk said the company plans to rename its artificial intelligence unit. Then Morgan Stanley (NYSE:MS) repeated its price target on the stock. The last quote was $171.40 as of 6:42 PM ET on October 5, 2026, in after-hours trading. At that point the after-hours move stood at 0.18%, according to Pluang. That figure covers post-close trading only and does not show how the regular session went.

#Monday #plans

Prince William is reportedly unlikely to reunite with Prince Harry for a documentary about their late mother, Princess Diana, as the 30th anniversary of her death approaches.
The latest claims have renewed attention on the brothers' long-running estrangement, with Piers Morgan saying the future remains deeply angry over the duke's public criticism of the royal family.
Prince Harry, meanwhile, is considering ways to honor Princess Diana in 2027, while Prince William is expected to keep his own tribute more private.
MEGA
Piers Morgan told Fox News Digital that a reunion between William and Harry appears unlikely because the brothers have not spoken properly for years.

#william #princess #piers

Phil Collins has shared an update on the status of his relationship with Paul McCartney.
Collins, 75, and McCartney, 84, have been feuding since 2002 when the Beatle made a comment about the "In the Air" singer at the 2002 Queen's Jubilee Concert.
Speaking on a recent episode of the Piers Morgan Uncensored podcast, Collins recalled of the initial exchange: "We had a rehearsal at Buckingham Palace and I had a first edition Hunter Davies book [on The Beatles], which was very quite rare. I took it to the rehearsal so Paul could sign it… Paul came up behind with Heather Mills, who he was married to at that point, and I said, 'Paul, could you sign this?'
"He probably didn't mean it like it sounded, but he said, 'He's a big Beatle fan, is our little Phil,'" Collins continued. "And I thought, 'You ******* .' I couldn't help it. That's just what I thought."
Collins added of being stung by the remark: "I knew Paul. This wasn't the first time I met him. I played on one of his albums. I played live with him with the Prince's Trust. I'd given him an award at an award show in London, so I kind of knew him. So I was kind of surprised at that particular tone of reply."

#collins #first #knew

Originally appeared on E! Online
Phil Collins is sharing how his near-death experience impacted his kids.
Over two years after he nearly died due to his struggles with alcoholism, the former Genesis frontman detailed his daughter Lily Collins' emotional reaction to his health battle when the entire family got together last Christmas.
"It was wonderful to hear their stories of how they feared they wouldn't see me again," Phil shared of his kids during an Oct. 2 appearance on Piers Morgan Uncensored. "And Lily, for example, she just burst into tears because she now has a child."
"She said, 'I never thought that my child would get to know her grandfather,'" he continued of Lily, who shares daughter Tove, 20 months, with husband Charlie McDowell. "It was very touching, very moving."

#phil #daughter #child #genesis

Phil Collins said he regrets "my marriages falling apart"
Collins was married three times
The rocker is dad to five children with his three wives
Phil Collins is opening up about the things he wishes he could have done differently.
The music legend, 75, was asked in an interview on Piers Morgan Uncensored on Friday, Oct. 2 if he had any regrets at this stage in his life. In response, Collins looked to his love life.

#collins #morgan

Luann de Lesseps is revisiting her flirty history with Joe Bradley. The former RHONY star opened up about their chemistry and the kiss that followed their first meeting. During a new Call Her Daddy appearance with Sonja Morgan, Luann also recalled the unexpected moment she later met Bradley's mom at BravoCon.
During the Call Her Daddy interview, Luann reflected on meeting Joe Bradley, who stars on Southern Hospitality.
The pair first met during an appearance on Watch What Happens Live in January 2024. Luann immediately called Bradley "charming," while he made it clear that he liked older women.
Bradley later admitted that he and Luann kissed after their night out. He said he initially kept the kiss quiet because he did not want to hurt Danielle Olivera, whom he had been seeing at the time. He later explained why he had tried to keep the kiss private.
Luann sounded amused as she looked back on their brief connection. She also acknowledged their age gap and discussed her preference for dating younger men.

#bradley #meeting #appearance

Just over a year ago, investors largely viewed IREN (IREN) as a bitcoin mining company. Today, the company supplies AI infrastructure to Microsoft (MSFT) and signs billion-dollar contracts with some of the biggest names in the AI market, including Nvidia (NVDA) and Dell Technologies (DELL). These developments provide evidence that IREN's shift toward AI infrastructure is translating into actual business activity, and the market has responded strongly to that progress. IREN shares have been rewarded with two strong moves over the last two months.
IREN's AI transformation centers on a major five-year agreement with Microsoft. The company entered into a $9.7 billion cloud services agreement with Microsoft, with 20% of the contract value paid upfront. Once fully commissioned, the deal is expected to generate nearly $1.94 billion in annualized run-rate revenue. That gives IREN a significant source of contracted business as it builds out its AI cloud operations.
Here's Another Little-Known Firm Jensen Huang's Nvidia Is Quietly Backing
MediaTek Is Stepping Up Competition Against Qualcomm With a New 2-Nanometer Chip. What This Means for QCOM Stock.
JPMorgan Changed Its Mind on Meta Stock After This Major AI Breakthrough

#NVIDIA

Morgan Stanley has cut Novo Nordisk A/S (NYSE:NVO) to Underweight on September 11, 2026. Semaglutide, the underlying molecule for Wegovy and Ozempic, generates roughly 75% of 2026 revenue. Morgan Stanley models that it will still represent 59% of total sales when its patent protection expires in 2031. And according to the firm, the valuation does not price in the impact it has on Novo's terminal value. The stock, currently trading at 10.6x earnings and down 33% from its 52-week high, slipped another 2% following the call. At this point, the question isn't about whether the patent cliff is real or not, but whether the 10x multiple reflects an actual bargain.
Semaglutide loses exclusivity in Europe in 2031 and the US in 2032. And Morgan Stanley believes Novo's oral-obesity business, projected to reach $10 billion by 2031, could not offset the pricing collapse after the arrival of generics. Growth decelerates to a 4% compound rate between 2027 and 2030. If the deceleration continues, it will justify 10x earnings as a fair price instead of a cheap one.
The 10.6x multiple already prices aggressive pessimism into a market leader of one of the fastest-growing drug classes in history. Morgan Stanley fueled the pessimism by discounting a 2031 cliff five years earlier. However, pharmaceutical patent expirations frequently face extensions and prove difficult to time. Second, the ***** umption that oral obesity treatments cannot offset patent losses relies on oral semaglutide being the bridge. But Novo's next-generation portfolio, including CagriSema and amycretin, offers a significant defense against the patent cliff. This remains unproven, however, specifically after CagriSema's earlier weight-loss data failed to impress, yet Morgan Stanley's terminal-value model discounts this pipeline almost entirely. The company is also expanding its franchise. On September 7, the STEP Young trial hit its endpoint in children aged six to twelve, strengthening the base its successors inherit.
The smart money is leaning in. As per the Insider Monkey database, 59 hedge funds held NVO in the second quarter of 2026, up from 55 in the first, indicating a slight increase in the modest institutional interest in the stock. Short interest on the ADR is negligible at about 0.7%. The positioning reflects a beaten-down value stock quietly seeing institutional accumulation while Wall Street turns increasingly bearish.

#semaglutide #oral