DIRS.INFO The most relevant business & tech news

☆ Eli Lilly's bleak annual forecast overshadows quarterly beat
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

The company's shares fell nearly 4% in premarket trading as a forecast cut for the third time this year overshadowed strong performance by its newly approved diabetes drug. The drugmaker also trimmed its full-year revenue forecast, citing a $300 million hit to its revenue from the strong dollar. Lilly now sees revenue in the range of $28.5 billion to $29 billion, below analysts' estimates of $28.76 billion at mid-point. Lilly flagged a total impact of about $1 billion from the strong dollar for the full year. The company posted better-than-expected results for the third quarter, as demand for its recently approved diabetes drug, Mounjaro, helped counter declining sales of its diabetes and cancer treatments.

☆ Stocks making the biggest moves in the premarket: Abiomed, Uber, SoFi, Pfizer and more
▼ + stars: | 2022-11-01 | by ( Peter Schacknow | ) www.cnbc.com time to read: +3 min

Uber Technologies (UBER) – Uber rallied 8.8% in the premarket after it reported better-than-expected quarterly revenue as gross bookings surged compared to a year ago. SoFi Technologies (SOFI) – SoFi surged 14.3% in premarket trading, following a smaller-than-expected quarterly loss and revenue that exceeded analysts' forecasts. Pfizer (PFE) – Pfizer jumped 4% in premarket trading following a better-than-expected quarter and an improved financial outlook. Avis Budget (CAR) – Avis Budget shares gained 3.7% in the premarket following better-than-expected quarterly earnings from the rental car giant amid continued strong travel demand. Trex (TREX) – Trex shares tumbled 7.5% in premarket trading after the maker of decking and railing materials missed both top and bottom line estimates for its latest quarter.

☆ 2 takeaways from our daily meeting: Pharma stocks under pressure, Club holdings report
▼ + stars: | 2022-11-01 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Pharma Club stocks under pressure Club earnings ahead 1. Pharma Club stocks under pressure The S & P 500 Short Range Oscillator is still over 6%, meaning the market is overbought — but there are some Club holdings under enough pressure to watch for a potential purchase. Club earnings ahead This week of earnings is jam-packed with Club names. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

☆ Eli Lilly cuts annual profit forecast on stronger dollar
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Nov 1 (Reuters) - Eli Lilly and Co (LLY.N) on Tuesday cut its annual profit forecast for the third time, as a stronger dollar piled more pressure on the drugmaker struggling with lower insulin prices and generic competition for its cancer drug. The company's shares fell nearly 4% in premarket trading as the forecast cut overshadowed strong performance by its newly approved diabetes drug. Eli Lilly now expects adjusted full-year earnings of $7.70 to $7.85 per share, compared to its prior forecast of $7.90 to $8.05. Multinational companies such as Abbott Laboratories and Johnson & Johnson (JNJ.N) have been hit by the dollar's strength against a basket of currencies. Lilly flagged a total impact of about $1 billion from the strong dollar for the full year.

☆ Premarket stocks: Why America's job market hasn't imploded
▼ + stars: | 2022-11-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Mortgage rates are at their highest levels since 2002, consumer spending and business investment is falling and the Federal Reserve is fighting persistent inflation with higher interest rates. “While job openings should continue to fall in the months ahead, the fact that they remain well above normal levels should continue to support strong job growth, possibly all the way into 2023,” said David Kelly, chief global strategist at JPMorgan Funds. The job market is good for workers but it’s not good for inflation. The problem is that this time around, the shape of the job market is different. Oil stocks and health care companies are leading the market, with Chevron (CVX), Merck (MRK) and Amgen (AMGN) topping the Dow leaders list.

☆ Eli Lilly's guidance cut is about the strong dollar, not weakening fundamentals, CEO says
▼ + stars: | 2022-11-01 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

Eli Lilly — which generates about 40% of its sales overseas — largely attributed the guidance cut to the strong U.S. dollar. With three quarters already reported, Eli Lilly now expects full-year sales to range between $28.5 billion to $29 billion and adjusted per-share earnings between $7.70 to $7.85. New diabetes drug off to great start One of our biggest reasons for liking Eli Lilly is the company's new type 2 diabetes drug that's also shown promise as an obesity treatment . The drug is similar to one that Eli Lilly is working to treat the most common form of dementia. David Ricks, CEO, Eli Lilly Scott Mlyn | CNBC

☆ Eli Lilly is still best long-term growth story in large cap pharma despite messy quarter
▼ + stars: | 2022-11-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +10 min

Eli Lilly (LLY) reported a noisy third-quarter before the opening bell Thursday, but the numbers did not change our thesis in what we think is the best long-term growth story in large cap pharma. On the bottom line, Eli Lilly grew its adjusted earnings-per-share by 12% to $1.98, beating the consensus forecast of $1.92, according to Refinitiv. Bottom line Another messy quarter for Eli Lilly but one that has little impact on what we believe is still a compelling story. Verzenio revenue of $618 million beat estimates of $615 million Jardiance revenue of $573 million beat estimates of $495 million Taltz revenue of $679 million missed estimates of $682 million Retevmo revenue of $40.5 million missed estimates of $52 million. This Tuesday, July 17, 2012, photo shows the Eli Lilly corporate headquarters in Indianapolis.

☆ What Cramer is watching Tuesday — big J&J deal, Lilly guidance light, Biden scolds Big Oil
▼ + stars: | 2022-11-01 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Club holding J ohnson & Johnson (JNJ) buys Abiomed (ABMD), premier heart pumping company, in a deal valued at $16.6 billion. J & J is paying a hefty premium: $380-per-share upfront, plus extra $35-per-share if certain milestones are met. J & J juiced growth ahead of its separation into two companies: one, pharma and the other, consumer brands. This will raise the growth rate of the MedTech portion of new J & J company. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) very good: $516 million versus $470 million expected.

☆ Eli Lilly's growth tied to nascent diabetes drug sales
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

Oct 31 (Reuters) - Wall Street analysts will be focusing on sales of Eli Lilly and Co's (LLY.N) newly approved diabetes drug Mounjaro when the company reports results on Tuesday, as sales of its older drugs come under pressure from increased competition and low pricing. The company's sales could quickly jump once Lilly gets more insurers to cover its costs, according to Risinger. Analysts expect Mounjaro sales of $81 million in the third quarter, months into its U.S. launch, according to Refinitiv data. Lilly's sales are expected to increase to $30.23 billion in 2023, versus reported sales of $24.54 billion in 2021, with Mounjaro expected to bring in $1.34 billion in sales and become the company's third-biggest selling drug, according to Refinitiv data. Growth from older drugs such as Humalog and Alimta has slowed downTHE FUNDAMENTALS** Q3 sales expected to grow 1.8% to $6.89 billion.

☆ Stocks: Dow on track for best month in more than 45 years
▼ + stars: | 2022-10-31 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

New York CNN Business —The Dow fell slightly midday Monday but is still up 14% this month, putting it on track for its best monthly gain since January 1976. Still, it’s fitting that on Halloween, candy maker Hershey (HSY) is trading at an all-time high, Shares are up nearly 25% this year. That’s nearly half of the Dow stocks. Oil stocks and health care companies are leading the market, with Chevron (CVX), Merck (MRK) and Amgen (AMGN) topping the Dow leaders list. This list of well known, brand-name stocks trading at record highs is further proof of that point.

☆ Sell biopharma stock Amgen ahead of its obesity drug update, Barclays says
▼ + stars: | 2022-10-31 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Investors should sell biopharma stock Amgen ahead of its obesity drug update next week, according to Barclays. Analyst Carter Gould downgraded Amgen to underweight from equal weight, saying there are high expectations around its obesity drug AMG133 after the stock's rally this month. Amgen shares outperformed nearly all its peers this month, even companies that have reported strong third-quarter results, after announcing at the start of October that it will disclose more obesity drug data, according to Barclays. In short, we think AMGN shares could come under pressure after the recent gains on the back of this update," the analyst wrote. The analyst's $234 price target represents 14.5% downside from where Amgen shares closed Friday at $273.81.

☆ With the Dow outperforming, here's how investors can harness the stock index
▼ + stars: | 2022-10-31 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Of the three major stock market indices, investors currently favor the Dow Jones Industrial Average – particularly in the wake of last week's dismal quarterly reports by mega cap tech firms and the subsequent sell off. So, given this backdrop, how can investors harness an outperforming Dow when constructing their portfolio? The simplest approach would be to look at the companies that comprise the index and pick those with further room to run. Here's a rundown of how we measure our portfolio against the Dow across health-care, finance and semiconductor stocks. Photo taken on March 1, 2022 shows monitors displaying stock market information at the New York Stock Exchange in New York, the United States.

☆ The Fed may have to blow up the economy to get inflation under control
▼ + stars: | 2022-10-30 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

Jobs report also on tapThe Fed meeting takes place just two days before the nation will get its next report card on the labor market. Another jobs report, from payroll processor ADP, is also due out next week, and this one looks just at Corporate America. The government said in the September jobs report that average hourly earnings rose 5% in the past 12 months. The Fed typically prefers to see wage growth in the 2% to 3% annual range as a sign that inflation is under control. Discovery, Starbucks (SBUX), PayPal (PYPL), Amgen (AMGN) and Block (SQ)Friday: US jobs report; earnings from Cardinal Health (CAH), Duke Energy (DUK) and Hershey (HSY)

☆ Jim Cramer: The tech tyranny is over. These are the stocks driving this market
▼ + stars: | 2022-10-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

The money went to the stocks of companies who buy their shares in the open market the way Silicon Valley issues it. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Wall St Week Ahead Hopeful U.S. stock rally set for date with Federal Reserve reality
▼ + stars: | 2022-10-28 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 14, 2022. Meanwhile, cash-heavy investors afraid of missing out on a sustained rally have contributed to the bullish move, market participants said. More than 150 S&P 500 companies are due to report quarterly results next week, including Eli Lilly (LLY.N), ConocoPhillips (COP.N) and Qualcomm (QCOM.O). Investors will also closely watch next Friday's monthly jobs report for signs of whether the Fed's actions have tempered the labor market. "The market is thinking good things," said Kristina Hooper, chief global market strategist at Invesco.

Oct 25 (Reuters) - Biogen Inc (BIIB.O) on Tuesday said the Alzheimer's disease drug it is developing with Japan's Eisai Co Ltd (4523.T) would be used by doctors in a competitive market as investors wait for data from rival therapies made by Eli Lilly and Co (LLY.N) and Roche (ROG.S). The drug, lecanemab was shown to slow the progress of the disease by 27% in a trial last month, and additional data is expected next month. "The data needs to be seen from the other anti-amyloid therapies before we decide what is going to be meaningful," said Biogen interim research chief Priya Singhal. Its costs were about halved as the company significantly cut back on commercial infrastructure around the launch of Aduhelm, its previous Alzheimer's drug that has sputtered amid controversy over efficacy and lack of coverage by health insurers. read moreInvestors have been pinning hopes on the Alzheimer's drug as cheaper generics of Biogen's multiple sclerosis treatment Tecfidera have entered the market, hurting sales.

☆ 2 takeaways from our daily meeting: We like health care and staples, Club names in the news
▼ + stars: | 2022-10-24 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Health care and consumer staples leading the market Stocks gained on Monday, with health-care and staples stocks leading the charge. Quick mentions: META, DIS, SBUX Meta (META) investor Altimeter Capital urged CEO Mark Zuckerberg in an open letter on Monday to reduce headcount expenses, limit its investment in the metaverse and bring down its annual capital expenditures. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Cramer: This bear market is getting long in the tooth — here's what is changing
▼ + stars: | 2022-10-23 | by ( Jim Cramer | ) www.cnbc.com time to read: +8 min

Owning a Johnson & Johnson (JNJ) or a Constellation Brands (STZ) isn't exciting. When I look at the companies that have reported already, I like Home Depot (HD) and UnitedHealth (UNH), Procter & Gamble (PG) and Johnson & Johnson. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ These two strategies can help you stay diversified in any kind of stock market
▼ + stars: | 2022-10-21 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Barbell strategy The other way to think about diversification — and one we used heavily during this year's choppy market — is the barbell portfolio strategy. And if inflation persists but also economic activity picks up, you better own energy stocks. That also brings more demand into the oil market, so expect oil prices and the energy stocks tied to it to benefit. But using correlations and the barbell method to create a diverse mix of holdings can help you stay invested in market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Eli Lilly to buy genetic medicine developer Akouos for $487 million
▼ + stars: | 2022-10-18 | by ( Shashwat Awasthi | Byron Kaye | ) www.reuters.com time to read: 1 min

Oct 18 (Reuters) - Drugmaker Eli Lilly and Co (LLY.N) will acquire genetic medicine developer Akouos Inc (AKUS.O) in a cash deal worth about $487 million. Lilly will also pay Akouos' shareholders an additional amount of about $610 million contingent on certain events related to its trials. Register now for FREE unlimited access to Reuters.com RegisterReporting by Leroy Leo in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Here’s our October rapid-fire update on all 34 stocks in Cramer’s Charitable Trust portfolio
▼ + stars: | 2022-10-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +13 min

Here's a rapid-fire update on every stock in the CNBC Investing Club portfolio. For Club members who are seeking income, we think a stock like Devon represents a better option than, say, AbbVie. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Biogen's Alzheimer's drug could be more competitive than peers, Stifel says in upgrade to buy
▼ + stars: | 2022-10-13 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Biogen 's new Alzheimer's treatment could lead to even stronger gains for the biotech company going forward, according to Stifel. Analyst Paul Matteis upgraded shares of the biotech company to buy from hold, saying that upcoming data for Alzheimer treatments from competitors Roche and Eli Lilly could show that clinical results for Biogen's product, lecanemab, could be more competitive than feared. "Gantenerumab and donanemab readouts are overhangs for Biogen, but there's reason to think that in most scenarios, lecanemab will have a competitive clinical profile," he added. Shares of Biogen outperformed this year, up 5.7%, as investors pivoted into health care companies for their defensive attributes. Still, the analyst is concerned about challenges for the biotech company, including uncertainty around the company's future CEO.

☆ 3 takeaways from our daily meeting: Wall Street's bounce, small buy, reviewing analyst notes
▼ + stars: | 2022-10-12 | by ( Krystal Hur | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. LVMH also owns Sephora, which carries prestige beauty brands like Estee Lauder, which is another good sign for the Club stock. Quick mentions: PG, PXD, AMZN Atlantic Equities upgraded Kimberly Clark, the maker of Huggies and Kleenex, to overweight. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ What Cramer is watching Wednesday — more hot inflation, PepsiCo strong, drug stocks mixed
▼ + stars: | 2022-10-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Raymond James lowers price target on Club holding Procter & Gamble (PG) to $155 per share from $175; keeps outperform (buy) rating). Stanley Black & Decker (SWK) downgraded to equal weight from overweight (hold from buy) at Morgan Stanley. Piper Sandler cuts Yeti (YETI) price target to $48 per share from $76 but keeps overweight (buy) rating. Deutsche Bank lowers price targets on all asset gatherers: BlackRock (BLK), Blackstone (BX) and KKR (KKR). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Microsoft cloud leader Scott Guthrie says companies aren't holding off on cloud spending as inflation mounts
▼ + stars: | 2022-10-12 | by ( Jordan Novet | ) www.cnbc.com time to read: +5 min

Scott Guthrie, executive vice president of cloud and enterprise at Microsoft Corp., speaks during the Microsoft Developers Build Conference in Seattle, Washington, U.S., on Monday, May 7, 2018. But Guthrie said that doesn't seem to be the case with Azure, Microsoft's cloud infrastructure service. "I've not seen the current situation cause people to pause cloud," said Guthrie, executive vice president of Microsoft's cloud and artificial-intelligence group, in an interview with CNBC. Guthrie said he hasn't heard companies saying they would slow their use of cloud computing because of the higher energy costs. That's been a discussion topic among executives at Paris-based health care company Sanofi , which uses cloud services from Amazon , Google and Microsoft.

Search resuls for: "LLY"

25 mentions found