My top 10 things to watch for on Thursday, August 8: 1. Amazing second quarter for club name Eli Lilly. The drug giant easily beat Wall Street’s earnings and revenue estimates, driven by strong performance of diabetes blockbuster Mounjaro and weight-loss drug Zepbound. CEO David Ricks says Mounjaro is only in the bottom of the first inning. Plus, an obesity pill is in the works. Club members: Look for a full analysis of the quarter later today after management’s conference call with analysts and investors. 2. CVS Health has a rough road ahead, but CEO Karen Lynch has taken over as head of health insurance benefits. So what… all on her. The drugstore chain reported better-than-expected earnings on Wednesday, but cut its full-year earnings forecast due to higher medical costs. I talked to Lynch about it all last night on “Mad Money.” 3. Is Devon Energy the next big independent oil company (like ConocoPhillips or Occidental)? I think it is, and that CEO Rick Muncrief hit the jackpot with a 4% yield. And Devon’s share price is really low. 4. Bumble on Wednesday cut its annual revenue growth forecast to 1% to 2% from 8% to 11%. Devastation. Shares of the dating app plunged 40%. 5. Dutch Bros CEO Christine Barone on “Mad Money” tonight. It’s really hard to figure out what the heck is going on. A disjointed conference call Wednesday night. Despite better-than-expected quarterly results, shares fell 22% after the drive-thru coffee chain said new openings would be at the low end of a 150-165 range. 6. Textron investors are concerned about rising demand for corporate jets at this point in the economic cycle. Morgan Stanley downgraded the company’s shares to “hold” from “buy.” 7. Club holding Disney was downgraded to “neutral” from “buy” by Seaport Research. The analysts cited the slowdown in the company’s theme park division and noted that while streaming is profitable now, it won’t bring in as much as hoped in fiscal 2025 due to increased technology spending. 8. Palantir and Microsoft are joining forces to help the U.S. government with cloud computing and artificial intelligence. 9. Media giant Warner Bros. Discovery announced a $9.1 billion non-cash writedown of its television stations. I don’t think the company is in as much trouble as people think, since its bonds haven’t fallen very much. The company reported revenue of $9.7 billion, versus the $10.07 billion analysts were expecting. It’s about the progress of its streaming business, which added 3.6 million subscribers during the quarter, bringing the total to 103.3 million. 10. Celsius Holdings was downgraded to sell from hold by Bank of America. Pretty devastating. CEO John Fieldly was on “Mad Money” last night and told a good story. But there’s something wrong with the energy drink category here. Sign up for my free email newsletter, “Top 10 Morning Thoughts on the Market” (you can find a full list of Jim Cramer’s Charitable Trust stocks here). As a subscriber to CNBC Investing Club with Jim Cramer, you’ll receive a trade alert before Jim makes a trade. After sending a trade alert, Jim waits 45 minutes before buying or selling a stock from his charitable trust’s portfolio. If Jim has discussed a stock on TV, he waits 72 hours after the trade alert before executing the trade. THE INVESTING CLUB INFORMATION DESCRIBED ABOVE IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY AND OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR DUTY EXISTS AND WILL BE CREATED BY RECEIVING ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO PARTICULAR RESULT OR RETURN IS GUARANTEED.
Dave Ricks, Chairman and CEO of Eli Lilly and Company, speaks to the Economic Club of New York in New York City, USA, March 12, 2024.
Mike Segar | Reuters
My top 10 things to see on Thursday, August 8th
1. Amazing second quarter for the club name Eli Lilly. The drugmaker far exceeded Wall Street’s earnings and revenue forecasts, driven by strong performances of its hit diabetes drug Mounjaro and weight-loss drug Zepbound. CEO David Ricks says Mounjaro is only in the bottom of the first inning. Plus, an obesity pill is in the works. Club members: Check your inboxes today after management’s conference call with analysts and investors for a full analysis of the quarter.
2.CVS Health has a tough road ahead, but CEO Karen Lynch has taken charge of health insurance. So what… it’s all on her. The drugstore chain reported better-than-expected earnings on Wednesday, but lowered its full-year profit forecast due to higher medical costs. I talked to Lynch about it last night on “Mad Money.”
3. Is Devon Energy the next big independent oil company (a la ConocoPhillips or Occidental)? I think that’s true and that CEO Rick Muncrief has hit the jackpot with a 4% yield. And Devon’s stock price is really low.
