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Sarah Ferguson

Can Oprah rescue Weight Watchers?

Can Oprah rescue Weight Watchers?

Magicians call it misdirection. Don't look at what I'm doing with that hand. Look at this hand instead.

It seemed as though Wall Street, and more than a few reporters and commentators, were bedazzled this week after Weight Watchers announced that Oprah Winfrey was buying 10% of the struggling diet company.

Abracadabra! Gone were the worries about the company's future that had caused its stock to plunge 73% since the beginning of the year.

Hey, presto! Weight Watchers' stock more than doubled Monday, the day of the Oprah announcement, and rose 11% more through Thursday's close.

And for the big finish: The company says it's no longer just a diet program, the...

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