Dave Ricks, chair and chief executive officer of Eli Lilly and Company speaks to the Economic Club of New York in New York City, U.S., March 12, 2024.
Mike Segar | Reuters
My top 10 things to watch Thursday, Aug. 8
1. Amazing second quarter for Club name Eli Lilly. The drugmaker easily beat Wall Street estimates for earnings and revenue, driven by the strong performances of blockbuster diabetes treatment Mounjaro and weight-loss drug Zepbound. CEO David Ricks says it’s only the bottom of the first inning for Mounjaro. In addition, a pill for obesity is in the works. Club members: Check your inboxes for a full analysis of the quarter later today after management’s call with analysts and investors.
2. CVS Health has a tough road ahead, but CEO Karen Lynch has taken charge of health-care benefits. Big deal … all on her. The retail drugstore chain on Wednesday reported better-than-expected earnings but cut its full-year profit outlook because of higher medical costs. I talked about it all with Lynch on “Mad Money” last night.
3. Is Devon Energy the next major independent oil company (a la ConocoPhillips or Occidental)? I am thinking it is and that CEO Rick Muncrief has put together a winner with a 4% yield. And Devon’s stock price is really low.
