Diamonds and Dogs
Eli Lilly (LLY) soaring today. The drug maker is up 7% after the FDA granted breakthrough therapy designation to Lilly's experimental Alzheimer's disease drug donanemab. Lilly also said that it plans to file for accelerated FDA approval of the drug later this year. The drug could produce billions in sales in the coming years if approved. A number of upgrades with price targets as high as $300 a share.
Profit-taking in KB Homes (KBH). The homebuilder is down 6% following earnings. Earnings easily beat expectations as revenue rose 57% to $1.44 billion but missed expectations. KB Home does have a backlog of homes to build worth $4 billion. I hope they bought the lumber already.
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