Weight Watchers Stock Soars Toward 7-month High After Oprah Winfrey Takes Stake

Weight Watchers International Inc.'s stock soared 37% in premarket trade Monday, putting it on course to open at a seven-month high, after the weight management services company said Oprah Winfrey was taking a 10% stake. As part of a new partnership, Winfrey will buy newly issued shares representing 10% of the shares outstanding, will receive options to buy an additional 5% of the shares outstanding and has joined the board of directors. "Weight Watchers has given me the tools to begin to make the lasting shift that I and so many of us who are struggling with weight have longed for," Winfrey said in a statement. "I believe in the program so much I decided to invest in the company and partner in its evolution." The stock had run up 64% over the past three months through Friday, but was still down 73% year to date.