2024

Stellar

Captain Max

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">In today’s trading session, Eli Lilly and Company (NYSE: LLY) is surging on <a href="https://tokenist.com/eli-lilly-and-company-lly-shines-in-q2-with-11-30-b-revenue-68-eps-growth/" rel="dofollow" class="deco-link">better-than-expected quarterly results</a>, while Warner Bros. Discovery (NASDAQ: WBD) is plummeting following a massive <a href="https://variety.com/2024/biz/news/warner-bros-discovery-stock-all-time-low-1236099053/" target="_blank" aria-label="impairment charge (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">impairment charge</a>. Meanwhile, Applied Materials (NASDAQ: AMAT) is gaining ground ahead of its <a href="https://www.zacks.com/stock/quote/AMAT/detailed-earning-estimates" target="_blank" aria-label="earnings release next week (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">earnings release next week</a>.</p> 
<h3 id="eli-lilly-lly-reports-stellar-second-quarter-results-stock-surges">Eli Lilly (LLY) Reports Stellar Second-Quarter Results, Stock Surges</h3> 
<p>Eli Lilly reported strong second-quarter earnings that exceeded analysts’ expectations. The pharmaceutical giant saw its revenue surge 36% year-over-year to $11.30 billion, surpassing the expected $10 billion. Reported <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">earnings per share (EPS)</a> rose 68% to $3.28, while non-GAAP EPS increased 86% to $3.92, both significantly above the $2.75 estimate.</p> 
<p>The company’s performance was driven by robust sales of its GLP-1 drugs. Mounjaro sales reached $3.09 billion, more than tripling from $979.7 million in Q2 2023. Zepbound, launched in November 2023, recorded $1.24 billion in U.S. sales.<br><br>Following these results, Eli Lilly raised its full-year revenue guidance by $3 billion and increased its adjusted EPS guidance to a range of $16.10-$16.60. As of 11:26 AM EDT, LLY stock was trading at $837.43, up 8.46% for the day.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p> 
 </div> 
</div> 
<h3 id="warner-bros-discovery-wbd-stock-plummets-on-massive-impairment-charge">Warner Bros. Discovery (WBD) Stock Plummets on Massive Impairment Charge</h3> 
<p>Warner Bros. Discovery’s stock plummeted following its Q2 earnings report, which revealed a massive $11.2 billion in write-downs and charges.<br><br>The media conglomerate took a $9.1 billion impairment charge related to its TV networks unit and an additional $2.1 billion in merger-related costs. The company’s revenue dropped 6% year-over-year to $9.7 billion, missing analyst expectations.</p> 
<p>The impairment charge was primarily due to the loss of a key media rights deal with the NBA, shifting industry dynamics affecting legacy media companies, and continued softness in the U.S. ad market. Despite adding 3.6 million Max subscribers, WBD reversed earlier profit trends in its streaming business. As of 11:27 AM EDT, WBD stock was trading at $6.98, down 9.48% for the day.</p> 
<h3 id="applied-materials-amat-set-to-release-q2-results-on-thursday">Applied Materials (AMAT) Set to Release Q2 Results on Thursday</h3> 
<p>Applied Materials is set to release its Q2 earnings on Thursday, August 15th, after market close. Analysts expect the semiconductor equipment manufacturer to report an EPS of $2.01 for the quarter. The company has provided Q3 guidance of $1.83-2.19 EPS and Q3 2024 guidance of 1.830-2.190 EPS.</p> 
<p>Investors appear optimistic ahead of the earnings announcement, with AMAT stock trading up 5.69% at $188.66 as of 11:27 AM EDT. The company boasts a market capitalization of $156.206 billion and a <a href="https://tokenist.com/investing/p-e-ratio/" rel="dofollow" class="deco-link">price-to-earnings ratio</a> of 20.51. Analysts maintain an average “Moderate Buy” rating on the stock with an average price target of $226.00, suggesting potential upside from current levels.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/stocks-to-watch-today-lly-wbd-and-amat/">Stocks to Watch Today: LLY, WBD, and AMAT</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: LLY, WBD, and AMAT

Table of Contents

Tokenist

Other articles published on Aug 8, 2024

Judge Approves $12.7 Billion Settlement for FTX and Alameda Creditors, Ending 20-Month Legal Battle

The Brazilian Securities and Exchange Commission (CVM) approves the world’s first Solana spot ETF

Pennsylvania Professor Jeremy Siegel Urges Immediate 0.75% Rate Cut Amid Global Market Crash

Bitcoin Surges Past $57K, Leading Crypto Market Rally

Binance Labs Announces Second Cohort of Season 7 Incubation Program: Aarc, FluxLayer, and Ton Ton...

Investors Favor DePIN Projects in 2024

Join our free newsletter for daily crypto updates!