Diamonds and Dogs

4/30/24

Eli Lilly (LLY) remains a standout to the upside. The drug stock is up 5% today, up fr April and up 35% for the year on blow out earnings. revenues rose 26.0% year/year to $8.77 bln as the weight loss drug easily surpassed expectations. Management expects $2 billion in sales for their weight loss drug for the full year.

Pain for Stellantis (STLA) should be good news for consumers. The Chrysler and Jeep parent is down 10% on disappointing earnings and sales. Inventory remains high at the end of the quarter. In North America, Sellantis' brands of Jeep, Dodge, Ram, Fiat, and Alfa Romeo all have among the highest inventory levels of any automotive brand. Dealers will need to sell the cars before ordering more. That may be good news to consumers looking for a deal.

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