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☆ CrowdStrike beats quarterly consensus but lowers full-year guidance
▼ + stars: | 2024-08-28 | by ( Jordan Novet | ) www.cnbc.com time to read: +4 min

Annual recurring revenue was $3.86 billion, just above the StreetAccount consensus of $3.85 billion. With respect to guidance, CrowdStrike called for adjusted net earnings of 80 cents to 81 cents per share on $979.2 million to $984.7 million in revenue. For the 2025 fiscal year, CrowdStrike now sees $3.61 to $3.65 in adjusted earnings per share and $3.89 billion to $3.90 billion in revenue. That is down from management's June forecast for adjusted earnings per share of $3.93 to $4.03 and revenue between $3.98 billion to $4.01 billion. The adjusted guidance excludes costs tied to the outage.

Persons: George Kurtz, Burt Podbere, Gray Powell, Trevor Rambo, BTIG, CrowdStrike, Podbere, Kurtz Organizations: Delta Air Lines, Travelers, CrowdStrike Locations: management's

☆ Stocks making the biggest moves premarket: Peloton, Workday, Chewy and more
▼ + stars: | 2024-08-23 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Chewy — The pet retailer stock advanced more than 2% on an upgrade from Piper Sandler to outperform from neutral. The company also announced a $300 million stock buyback plan. The company topped earnings estimates by 9 cents a share and matched revenue estimates of $5.25 billion. Workday posted adjusted earnings per share of $1.75 on $2.09 billion in revenue. Analysts polled by LSEG had forecasted $1.65 earnings per share and revenue of $2.07 billion.

Persons: Piper Sandler, Warby Parker, Warby, Wells, Bill.com, LSEG, —, Samantha Subin, Jesse Pound, Pia Singh Organizations: —, JPMorgan, JMP Securities, UBS, BJ's Wholesale, Ross Locations: Vegas, Macau, Wells Fargo

☆ Stocks making the biggest moves midday: Cava, Intuit, Ross Stores, Workday and more
▼ + stars: | 2024-08-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Cava Group — Shares of the fast-casual restaurant chain popped more than 21% on stronger-than-expected quarterly results . Cava posted earnings of 17 cents per share on $233 million in revenue in the fiscal second quarter. That topped LSEG estimates calling for earnings per share of 13 cents and revenue of $220 million. Ross Stores — The off-price retailer's stock price added 1.4% after the company beat earnings estimates by 9 cents a share in the second quarter. Ross matched revenue estimates of $5.25 billion, per LSEG.

Persons: Cava, Warby Parker, Nicholas Jones, Goldman Sachs, Bill.com, Ross, Tesla, Jerome Powell's, Piper Sandler, — CNBC's Hakyung Kim, Jesse Pound, Brian Evans, Samantha Subin, Lisa Kailai Han, Michelle Fox Organizations: Intuit —, Intuit, FactSet, JMP Securities, Warby's, UBS, Ross Stores, LSEG, Nvidia, Federal, Investors, VanEck Semiconductor Locations: Cava, Vegas, Macau

☆ Workday stock gains as software provider widens 2027 margin target
▼ + stars: | 2024-08-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Subscription revenue growth grew 17%. With respect to guidance, Workday is now looking for an adjusted operating margin of 25.25% in the 2025 fiscal year, compared with the 25% forecast it provided in May. In September 2023, Workday said it was targeting a 25% adjusted operating margin for fiscal year 2027 and subscription revenue growth between 17% and 19%. Deutsche Bank analysts led by Brad Zelnick increased their 12-month price target on Workday stock to $275 from $265. "The increased 30% operating margin target was the big upside surprise as it is now committed both sooner and greater than most were expecting," the analysts wrote.

Persons: Carl Eschenbach, Zane Rowe, Rowe, We're, Brad Zelnick, Piper Sandler, Jerome Powell, Carl Eschenbach didn't, Julie Biel Organizations: Deutsche Bank, Citi, Evercore ISI, Computing Fund Locations: Davos, Switzerland

☆ Snowflake shares sink 14% on decelerating product revenue growth
▼ + stars: | 2024-08-22 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Shares of Snowflake closed down more than 14% on Thursday after the data cloud analytics company released fiscal second-quarter 2025 earnings that beat Wall Street's estimates but showed decelerating product revenue growth compared to past quarters. The company reported $829.3 million in product revenue, which accounts for most of Snowflake's sales, up 30% year over year. They said the company's smaller product revenue beat and deceleration in growth will not inspire weary investors. "A 2% product revenue beat in Q2, down from 5% in Q1, with product revenue growth dipping further to 29.5% YoY," likely sows "enough doubt in the investor conversation to keep shares under pressure in the near-term," the analysts wrote in a note Thursday. "True, 30% y/y product growth is slower than the 33-34% level we saw the past 2 quarters.

Persons: Sridhar Ramaswamy, Morgan Stanley, Snowflake's, — CNBC's Michael Bloom Organizations: LSEG, Barclays Locations: Toronto

☆ Palo Alto Networks finally gets back on track — delivering strong earnings and a promising outlook
▼ + stars: | 2024-08-19 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

After two rough quarters, Palo Alto Networks on Monday evening delivered the type of earnings report we expect from one of the best cybersecurity companies in the world. PANW YTD mountain Palo Alto Networks YTD The issue with billings in recent quarters has been that the high cost of money has resulted in increased negotiations on terms and financing options. Palo Alto Networks Why we own it: We believe cybersecurity is a secular growth market as bad actors are relentless and companies simply cannot afford to not invest in defense. Palo Alto Networks headquarters in Santa Clara, California, US, on Monday, Aug. 14, 2023. Palo Alto Networks Inc. is scheduled to release earnings figures on August 18.

Persons: management's, billings, Dipak Golechha, Nikesh Arora, Arora, Palo, we're, platformization, I've, Jim Cramer, Jim Cramer's, Jim, David Paul Morris Organizations: Palo Alto Networks, Revenue, LSEG, Total billings, U.S, Networks, billings, Palo Alto, Alto Networks, Cisco Systems, Palo, CNBC, Bloomberg, Getty Locations: Palo, billings, XDR, Palo Alto, Santa Clara , California

☆ Palo Alto Networks bet big on bundling. Investors want more proof that it's working
▼ + stars: | 2024-08-16 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

In addition to the headline numbers, here are three other factors to keep in mind when Palo Alto reports after Monday's market close. Palo Alto cut its 2024 full-year guidance for revenue and billings during quarterly results in February because of its pivot to "platformization," or bundling its products and services. Shares of Palo Alto nosedived 28% in the session following the Feb. 20 release. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance 2. As for other competitors, the case for companies to give Palo Alto their business just keeps getting stronger.

Persons: Jeff Marks, Palo, Nikesh Arora, it's, Jim Cramer, Wells Fargo, Evercore, CrowdStrike, Arora, we've, Jim Cramer's, Jim, Chris Jung Organizations: Palo Alto Networks, Wall, Palo Alto, Palo, billings, Palo Alto nosedived, Barclays, Alto, Investors, CNBC, Mobile, Congress, Fira, Barcelona, Getty Locations: Palo Alto, Palo, billings, Barcelona, Spain

☆ Stocks making the biggest moves midday: Walmart, Nike, Dell, Tapestry and more
▼ + stars: | 2024-08-15 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +4 min

The firm owned more than 3 million shares of Nike at the end of June, a stake worth roughly $229 million, the filing disclosed. Dell — Shares climbed 7.1% after JPMorgan added Dell to its focus list, noting the potential for upside after a recent pullback. Tapestry adjusted earnings per share of 92 cents, versus analysts' estimates of 99 cents per share, per LSEG. Berkshire holds 132.9 million shares of Sirius XM versus 36.7 million previously. Earnings per share fell to $4.59 in the fiscal second quarter from $7.98 per share a year ago.

Persons: Bill Ackman's, Warren Buffett, Berkshire Hathaway, Ted Weschler, Todd Combs, Alibaba, FactSet, Robinhood, Yun Li, Samantha Subin, Michelle Fox, Pia Singh, Alex Harring, Sean Conlon, Jesse Pound Organizations: Walmart, Nike, Bill Ackman's Pershing, Capital Management, Berkshire, Dell, JPMorgan, Citi, Cisco Systems, Cisco, Deere, Bros, UBS, Deutsche Bank, Lumentum Holdings, Sirius XM Holdings, Sirius XM, Management

☆ Buy these stocks with solid earnings power during the volatility, Wolfe Research says
▼ + stars: | 2024-08-14 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Second quarter earnings season has delivered robust profits despite the recessionary concerns that have roiled the market in recent days. Now, Wolfe Research recommends a handful of stocks that are positioned to outperform in the back half of the year. Here are some of the stocks that made the Wolfe Research screen: Apple was the only "Magnificent Seven" stock that made Wolfe's screen. Zoetis also appeared on the Wolfe screen. Duke Energy , which also reported quarterly results that beat expectations last week, also made Wolfe's screen.

Persons: Chris Senyek, Wolfe, Apple, Luca Maestri, Kellanova, FactSet, Mars, Snickers –, CNBC's David Faber, Hershey, althought, Zoetis Organizations: Wolfe Research, Apple, LSEG, Pfizer Animal Health, Duke Energy Locations: Chicago, New Jersey, North Carolina

☆ Chinese tech giant Tencent's quarterly profit jumps 82% as key gaming unit accelerates
▼ + stars: | 2024-08-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Here's how Tencent did in the June quarter against LSEG consensus estimates:Revenue: 161.12 billion Chinese yuan ($22.5 billion) versus 160.77 billion yuan expected. 161.12 billion Chinese yuan ($22.5 billion) versus 160.77 billion yuan expected. Profit attributable to equity holders of the company: 47.63 billion Chinese yuan versus 39.95 billion yuan expected. Tencent said its China games business brought in revenue of 34.6 billion yuan in the second quarter, a 9% year-on-year rise. International games revenue also rose 9% versus the year ago period to 13.9 billion yuan.

Persons: Tencent, of Organizations: Artificial Intelligence, Revenue, Investors, Fighter Mobile, South, Tencent, Mobile, DnF Locations: Shanghai, That's, China, Valorant

☆ UK inflation rose to 2.2% in July, after two months at the Bank of England's 2% target
▼ + stars: | 2024-08-14 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

U.K. inflation rose to 2.2% in July, coming in slightly below expectations but inching back above the Bank of England's 2% target, data from the Office for National Statistics showed Wednesday. The headline inflation had come in at 2% in both May and June, in line with the Bank of England's target rate. So-called core-CPI — which excludes food, energy, alcohol and tobacco prices — came in at 3.3% in July, down from the 3.5% print of July, the statistics office said. The data comes after the Bank of England earlier this month cut interest rates for the first time in over four years, taking the key bank rate to 5%. Uncertainty remains about when the central bank will cut rates again, and whether another cut will even take place this year.

Persons: BOE Organizations: Bank of England's, Office, National Statistics, Reuters, Bank of, Bank of England

☆ Intel sells stake in UK chip designer Arm amid company-wide restructuring and cost cuts
▼ + stars: | 2024-08-14 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Intel has sold its 1.18 million share stake in British chip firm Arm Holdings, according to a regulatory filing, as the California chip designer shores up its balance sheet amid intense competition. The sale, disclosed on Tuesday, likely raised Intel nearly $147 million, based on Arm's average stock price between April and June. Intel had cash and cash equivalents of $11.3 billion, and liabilities of about $32 billion at the end of June, according to its latest financials. Intel and Arm declined to comment on the sale when contacted by CNBC on Wednesday. Japan's SoftBank Group has a majority stake in Arm, and has been a beneficiary of the jump in the company's shares.

Persons: Pat Gelsinger, Gelsinger, Japan's Organizations: Intel, Arm Holdings, AMD, Qualcomm, Nvidia, Samsung, CNBC, Wednesday, Japan's SoftBank Locations: Santa Clara , California, California, South

☆ Stocks making the biggest moves after hours: Alphabet, Flutter, Nu Holdings and more
▼ + stars: | 2024-08-13 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Flutter Entertainment — Shares of the gaming company surged more than 10% after a stronger-than-expected report for the second quarter. The parent company of Fanduel reported $3.61 billion in revenue, topping the $3.40 billion expected by analysts, according to LSEG. Nu Holdings — Shares of the Brazil-based financial firm climbed about 4% after a stronger-than-expected second quarter. Ibotta — The tech stock fell almost 9% after a wider-than-expected loss for the second quarter. Ibotta reported a loss of $1.32 per share, compared with an estimated loss of 85 cents per share, according to LSEG.

Persons: Draftkings, Mercury, Ibotta Organizations: Bloomberg News, Justice Department, Nu Holdings, . Mercury Systems Locations: U.S, Illinois, Brazil

☆ Home Depot expects sales to weaken as consumers grow more cautious
▼ + stars: | 2024-08-13 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared to the prior fiscal year. It had previously expected comparable sales, a metric that takes out the impact of store openings and closures and other one-time factors, to decline about 1%. Total sales are expected to increase between 2.5% and 3.5% including a 53rd week in the fiscal year and approximately $6.4 billion in sales from SRS. In an interview with CNBC, Chief Financial Officer Richard McPhail said Home Depot has contended with consumers who have a "deferral mindset" since the middle of 2023. It marked the seventh consecutive quarter of negative comparable sales at Home Depot.

Persons: Richard McPhail, They've, McPhail, Jerome Powell, –, Robert Hum Organizations: CNBC, LSEG, Depot, Target, Home Depot, Consumers, Federal Reserve Locations: Florida Keys, United States, U.S

☆ This little known aerospace stock could rally 30%, Goldman Sachs says
▼ + stars: | 2024-08-13 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Ducommun 's growth and profit margin potential make the stock hard to ignore, according to Goldman Sachs. Analysts led by Noah Poponak upgraded the small cap aerospace stock to buy from neutral. Goldman called the company an "acquisition compounder opportunity" within the aerospace and defense sector ever since current management took the helm in 2017. Goldman was the lead joint bookrunner for Ducommun's last sale of stock in May 2023. Ducommun shares rose more than 8% in early trading on Tuesday.

Persons: Ducommun, Goldman Sachs, Noah Poponak, Poponak, Goldman Organizations: Triumph Locations: Monday's

☆ HelloFresh shares pop 11% as meal kit giant beats profit estimates
▼ + stars: | 2024-08-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Source: HelloFreshShares of German meal kit firm HelloFresh jumped on Tuesday after the company reported a better-than-expected profit in the second quarter and said its ready-to-eat meals segment saw rapid growth. HelloFresh shares climbed as much as 20% during morning trade, but had pared gains to rise 11% to 5.90 euros ($6.44) as of 6:19 a.m. The figure was down 23.7% from the same period last year, but exceeded the 123 million euros forecast of analysts surveyed by LSEG. Revenues at the firm increased by 1.7% in the quarter, to 1.95 billion euros, HelloFresh said. In March, HelloFresh shares plunged as much 42% suffering their worst-ever session to date after the company disappointed investors with its 2024 annual earnings outlook.

Persons: HelloFresh Organizations: LSEG, UBS Locations: North America

☆ A shopping list of quality stocks to buy during the pullback from Strategas
▼ + stars: | 2024-08-13 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Chevron has a free cash flow yield of 6.3%. The chipmaker has a free cash flow yield of 5.6% and an interest coverage ratio of 13.9. Nearly 70% of analysts on the stock have issued a strong buy or buy rating. The company has a free cash flow yield of 10.7% and a total coverage ratio of 5.5. About three-fifths of analysts covering the company hold a buy or strong buy rating.

Persons: Jason De Sena Trennert, Trennert, Wolfe, LSEG, — CNBC's Michael Bloom Organizations: Strategas Securities, . Energy, Chevron, Qualcomm, Wolfe Research

☆ Yen slips, markets brace for U.S. inflation data
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +3 min

Last week ended calmer, with Thursday's stronger-than-expected U.S. jobs data leading markets to pare bets for Federal Reserve interest rate cuts this year. "It's more a case of market squaring up a little bit ahead of the U.S. inflation data," said Christopher Wong, currency strategist at OCBC Bank in Singapore. The dollar was trading at 146.87 yen , up 0.2% from late U.S. levels on Friday. The Aussie was barely up at $0.6577 on Monday, while the New Zealand dollar stayed below last week's three-week high of $0.6035. Implied volatility on the yen, measured in yen options, has also subsided.

Persons: Bank of Japan's hawkishness, Jackson, Christopher Wong, J.P, Morgan Organizations: Bank of Japan's, Federal Reserve, Nvidia, OCBC Bank, New Zealand, Reserve Bank of New, Bank, Japan, U.S . Commodity Futures Trading Commission Locations: U.S, Singapore, Reserve Bank of New Zealand

☆ Wells Fargo says buy stocks, not the stock market now. Here's its bargain list
▼ + stars: | 2024-08-09 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Recent market turbulence has unearthed some bargain prices for momentum stocks, according to Wells Fargo. He suggests that investors "buy stocks, not the stock market." Here's a closer look at stocks Wells Fargo is eyeing in light of the recent market volatility. Shares of the Facebook parent have gained roughly 45% in 2024, but have slumped 3% over the past month. Eli Lilly has climbed 53% in 2024, but is down roughly 8% over the past month.

Persons: Wells, Christopher Harvey, Harvey, Harvey isn't, Blayne Curtis, Eli Lilly, Lilly, Zepbound Organizations: Services, Nvidia, Jefferies, Facebook, Meta, LSEG, Netflix Locations: Wells Fargo, U.S, Wells

☆ Stocks making the biggest moves midday: Sweetgreen, Doximity, E.l.f. Beauty and more
▼ + stars: | 2024-08-09 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Doximity — Shares jumped more than 38% after the digital health company reported first-quarter earnings that surpassed expectations. That is more than the 22 cents per share that analysts polled by FactSet were expecting. Expedia reported adjusted earnings of $3.51 per share, versus the $3.06 per share LSEG consensus estimate. Akamai Technologies — The stock rose nearly 11% after the cloud company reported better-than-expected second-quarter results. According to LSEG, analysts expected $1.53 per share on $977 million in revenue.

Persons: Sweetgreen, Doximity, FactSet, Unity, LSEG, Versace, Michael Kors, Expedia, Akamai, Insulet, Alex Harring, Samantha Subin, Yun Li, Jesse Pound, Pia Singh, Michelle Fox Organizations: Unity, Capri, Capri Holdings, Revenue, Technologies, Paramount Global, Bank of America

☆ Restaurant Brands revenue tops estimates, fueled by Tim Hortons
▼ + stars: | 2024-08-08 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Restaurant Brands International on Thursday reported quarterly revenue that beat analysts' expectations, fueled by better-than-expected sales at Tim Hortons and the company's international restaurants. Shares of Restaurant Brands rose 3% in morning trading. Out of Restaurant Brands' four chains, Tim Hortons performed the best, with same-store sales growth of 4.6%. For the second half of the year, Restaurant Brands is expecting same-store sales growth of roughly 2%. Two days before the quarter ended, Restaurant Brands completed its acquisition of Popeyes China, which will be included in its results next quarter.

Persons: Tim Hortons, Josh Kobza, we've, Popeyes, Burger, Kobza Organizations: Lakeside, United Kingdom . Restaurant Brands, Brands, LSEG, Burger King, U.S, Firehouse, Burger, Restaurant Brands, Holdings Locations: Grays, United Kingdom, Burger, Brazil, Australia, Japan, China, Carrols

☆ E.l.f. Beauty sales jump 50% on gains in color cosmetics and skin care, launch of Bronzing Drops serum
▼ + stars: | 2024-08-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

The company's sales soared to $324.5 million in its fiscal first quarter, leading it to raise its full-year guidance. He added that its Bronzing Drops serum quickly became a best seller on the company's website after its launch during the quarter. Following quarter after quarter of outsized growth, Wall Street has come to expect a lot from E.l.f. The company now anticipates its adjusted net income will be between $198 million and $201 million, compared with a previous outlook of between $187 million and $191 million. During the quarter, selling, general and administrative expenses increased by roughly $88.6 million to $180.6 million, representing 56% of net sales.

Persons: Tarang Amin, E.l.f, Mandy Fields, Fields, I'm, we're, Amin, we've, Gen Z, We'll, Gabby Douglas, Anastasia, Tas, Jameela Jamil Organizations: CNBC, LSEG, Alpha Locations: E.l.f

☆ Paramount Global announces it will cut 15% of U.S. workforce, shares rise on second-quarter earnings
▼ + stars: | 2024-08-08 | by ( Alex Sherman | ) www.cnbc.com time to read: +1 min

Paramount Global is cutting 15% of its U.S. workforce, or about 2,000 jobs, part of a broader cost-cutting plan as it prepares for a merger with Skydance Media. Paramount has identified $500 million in cost savings, which include the head count reductions, as part of $2 billion in synergies related to its transaction with Skydance. Paramount agreed to a merger with Skydance Media last month. Meanwhile, earnings surged as the company's streaming division swung to an unexpected profit — the first time Paramount has announced a profitable quarter for its direct-to-consumer business. Here's how Paramount performed in the quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Persons: — Organizations: Paramount, Skydance Media, LSEG

☆ Eli Lilly's blowout quarter should quiet investor concerns about the stock
▼ + stars: | 2024-08-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +11 min

Eli Lilly on Thursday reported a home-run quarter fueled by sales of its blockbuster obesity and diabetes drugs, quieting any lingering investor concerns in the stock. Eli Lilly Why we own it: Eli Lilly's best-in-class drugs should enable growth above the industry average for many years to come. The report left little doubt that Eli Lilly's best days are ahead, driven by the growth of GLP-1s. It's really early" for Zepbound, Eli Lilly CEO David Ricks said in a CNBC interview Thursday. But the good news is Eli Lilly's multibillion dollar investments to expand manufacturing capacity are paying off.

Persons: Eli Lilly, Eli Lilly's, Zepbound, Jim Cramer, Lilly, David Ricks, It's, We're, Eli Lilly hasn't, Novo, spooked Lilly, Gordon Brooks, it's, Ricks, Brooks, Verzenio, —, didn't, Jim Cramer's, Jim, George Frey Organizations: Revenue, LSEG, Novo Nordisk, Biogen, Merck, Pfizer, CNBC, Food and Drug Administration, Viking Therapeutics, Novo Nordisk —, FDA, RTP, Bloomberg, Getty Locations: Eisai, U.S, GLP, Roche, it's, Indianapolis, North Carolina, Europe, Germany, Provo , Utah

☆ Eli Lilly blows past estimates, hikes guidance as Zepbound, Mounjaro sales soar
▼ + stars: | 2024-08-08 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +6 min

Shares of Eli Lilly closed more than 9% higher on Thursday. That has forced Eli Lilly and its rival Novo Nordisk to invest heavily to boost manufacturing. "We just see unbelievable demand, and we're not even trying that hard to promote this drug," Eli Lilly CEO David Ricks told CNBC in an interview. Eli Lilly said sales were largely driven by higher demand for Mounjaro and Zepbound as production increases improved supply in the U.S. With a market cap of more than $730 billion, Eli Lilly is the largest pharmaceutical company based in the U.S.

Persons: Eli Lilly, Eli Lilly's, we're, David Ricks, Ricks, Zepbound, Mounjaro, Wegovy Organizations: U.S, Novo Nordisk, Food, CNBC, LSEG Locations: U.S, United States, Novo

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