Diamonds and Dogs



Eli Lilly (LLY) jumping 4% after boosting its quarterly dividend and issuing stronger-than-expected 2019 profits forecasts thanks to stronger demand for new medicines and its existing diabetes drug franchise. Eli Lilly now expects full year 2019 earnings of between $5.90 and $6.10 per share, firmly ahead of the $5.82 Street forecast and some 9% higher than the top end of its current year forecast. Diabetes drugs Trulicity, Basaglar and Jardiance will contribute to growth along with other key growth-drivers Taltz and Olumiant, which treat inflammatory conditions, and cancer treatments like Verzenio and Cyramza.

FedEx (FDX) taking a hit on slowing global growth and tariff concerns. FedEx is down 9% today following earnings. Earnings were actually better than expected as revenue rose 9.3% to $17.8 billion. However, the company lowered 2019 guidance to $15.50 to $16.60, down from a previous range of $17.20 and $17.80, and below the $17.33 consensus estimate. The forecast assumes "moderate" U.S. domestic growth and no further weakening in international economic conditions. FedEx called out tariffs as a source of softness.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.