Diamonds and Dogs
Eli Lilly (LLY) is fighting back. The drug maker is up 3% back near its 52-week high after reaffirming guidance and raising 2020 outlook. Eli Lilly is seeing improved productivity and important data readouts for several investigational medicines in its clinical pipeline and the possibility of two regulatory approvals, and up to three new launches in 2020. Eli Lilly also raised their dividend 14%. Eli Lilly hit back at Senator Warren calling her criticism of the price of their insulin drug, nonsense.
FedEx (FDX) remains in the dog house. The world's biggest package delivery firm is down 10% after missing earnings, missing sales and lowering guidance. The company is facing lower-than-expected revenue at each of their transportation segments and higher-than-expected expenses driven by continued mix shift. Management stated that current operating results are near a bottom and there are some encouraging signs of improvement in Europe and Asia, but as one analyst put it, FedEx is a show me stock for now.