Weight Watchers Spiking

Shares of Weight Watchers International WTW are spiking on Thursday, one day after the stock fell in the wake of FDA approval of Arena Pharmaceuticals' ARNA weight loss drug lorcaserin. The decision from the agency marked the first approval of a weight loss drug in 13 years. Shares of Weight Watchers fell on the news, on the vague fear that the company's business could be hurt by lorcaserin. The reality, however, is that the drug is not a substitute for diet, but rather a supplement to diet. During Thursday's trading session, WTW shares are making back yesterday's losses and were recently trading up more than 3% to $51.11. Year-to-date, the stock has lost almost 7% and over the last 3 months, WTW has fallen nearly 35%. Weight Watchers International, Inc. (WWI) is a global-branded consumer company and a provider of weight management services, operating globally through a network of Company-owned and franchise operations.