Stock market today: Dow, S&P 500, Nasdaq futures rise as Trump hints at chip tariff carveout
Eli Lilly (LLY) stock fell 7% in premarket trading. Although the company’s second quarter earnings topped expectations, the results of a late-stage trial of its highly anticipated oral GLP-1 pill disappointed.
For the quarter, Eli Lilly reported $15.56 billion in revenue, beating Wall Street estimates of $14.69 billion. Earnings per share came in at $6.31, compared to Street expectations of $5.56.
Much of the $10.81 billion in US revenue was driven by strong sales of weight-loss drugs, Mounjaro and Zepbound, which increased 46% in volume, though prices fell 8%.
Yahoo Finance’s Anjalee Khemlani reports: