Diamonds and Dogs
United Parcel Service (UPS) surges 13% to new highs following strong earnings. UPS blew past Wall Street's expectations thanks to pandemic-era demand for e-commerce deliveries, health-care equipment and goods from Asia. Revenue jumped 13% to $20.5 billion in the second quarter, topping the highest analyst estimate and confounding predictions that sales would drop. Adjusted earnings climbed to $2.13 a share, the company said in a statement Thursday. That was about double the average of estimates compiled by Bloomberg. Not bad.
Eli LIlly (LLY) hurt but COVID-19. Eli Lilly is down 6% following earnings. The earnings beat, but sales came in below expectations and negative year over year as the COVID-19 pandemic strained the healthcare systems around the world and decreased the number of new patient starts for some of Lilly's medicines.
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