Diamonds and Dogs

5/3/23

Eli Lilly (LLY) performing well on Alzheimer's drug data. Eli Lilly stock is up 6% today and up 30% in the last two months thanks to their experimental Alzheimer's treatment showing significantly slowed cognitive decline in people with an early stage of the disease. Eli Lilly plans to file their donanemab drug for regulatory approval this quarter, hoping for FDA approval before year end.

Chip correction continues. AMD (AMD) is down 8% following earnings. AMD did beat on the top and bottom line, but guided lower as the chip correction continues. AMD is optimistic that the second half of the year will be better as they adopt their AI technology into their portfolio of chips.

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