Diamonds and Dogs
Eli Lilly (LLY) higher on enthusiasm for their Alzheimer drug. Eli Lilly is up 4% to new highs following earnings and an improving pipeline of new drugs, with positive developments in diabetes, cardiovascular products and Alzheimer's. The company expects to submit its Type 2 diabetes drug and Alzheimer's drug to the FDA for approval by the end of the year.
Profit-taking in GM (GM). GM is down 8% following strong earnings. Still, operating profit in GM's North America operations came in at $2.9 billion in the second quarter, down from $3.1 billion in the first quarter. Earnings were hit by the recall as well as the global automotive semiconductor shortage that is constraining auto production everywhere.
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