๐ PRO: This Week in Visuals
LLY, NVO, CVX, AMGN, UBER, SONY, MDLZ, SHOP, GSK, ABNB, PLTR, OXY, FTNT, HLT, TTD, CPNG, YUM, GPN, TTWO, HUBS, QSR, EXPE, HOOD, DT, TOST, CYBR, TWLO, RDDT, CART, DUOL, LYFT, TRIP, DCBO
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Today at a glance:
๐ Eli Lilly: Zepbound Surge
๐ฉ๐ฐ Novo Nordisk: Wegovy Shortage
โฝ๏ธ Chevron: Relocating To Texas
๐งฌ Amgen: Obesity Investment
๐ Uber: Trips & Profit Rise
๐ฅ๏ธ Sony: PlayStation 5 Comes Short
๐ซ Mondelฤz: Weaker Volume
๐ Airbnb: Slowing US Demand
๐๏ธ Shopify: Upbeat Outlook
๐ GSK: Speciality Medicines Rise
๐ต๏ธ Palantir: AIP Surge
๐งช Oxy: Buffettโs Favorite
๐ Fortinet: Margin Expansion
๐จ Hilton: Softening Demand
๐บ The Trade Desk: Upbeat Guidance
๐ฎ YUM Brands: Taco Bell Leads
๐ฐ๐ท Coupang: Farfetch Margin Drag
๐ Global Payments: Streamlining
๐ฎ Take-Two: Gearbox Inclusion
๐ข HubSpot: New Pricing Model
๐ RBI: Tim Hortons Shines
๐ชถ Robinhood: Expanding Offerings
โ๏ธ Expedia: Consumer Brands Focus
โ๏ธ Dynatrace: Platform extension
โน๏ธ CyberArk: Subscription Transition
๐ฌ Twilio: Operating Leverage
๐ Toast: Surprise Profitability
๐ฝ Reddit: User-led Growth
๐ฅ Instacart: Orders-led Growth
๐ฆ Duolingo: Friend Streak
๐ Lyft: Weak FY24 Outlook
๐ฝ๏ธ Tripadvisor: Headwinds Ahead
๐ Docebo: Expansion & Partnerships
1. ๐ Eli Lilly: Zepbound Surge
Eli Lilly exceeded Q2 expectations, primarily driven by robust sales of its weight-loss drugs Zepbound ($1.2 billion) and Mounjaro ($3.1 billion). The strong performance dispelled fears of an overhyped market, leading to a stock price surge for LLY.
The company raised its full-year 2024 guidance due to increased confidence in production and demand for its weight-loss medications. Despite ongoing supply challenges, Lilly reported improved availability and insurance coverage for Zepbound. Positive trial results for Zepbound in treating heart failure with preserved ejection fraction further solidify the drug's potential.
2. ๐ฉ๐ฐ Novo Nordisk: Wegovy Shortage
Novo Nordisk's stock dropped as Q2 sales of its weight-loss drug Wegovy and its diabetes treatment Ozempic (also used off-label for weight loss) missed estimates. This shortfall, partly attributed to rebate adjustments, underscores investor anxiety surrounding the company's growth drivers amid high expectations and competition from Eli Lilly's Zepbound and Mounjaro.
Management remains confident and increased its full-year sales outlook, as Wegovy prescriptions have doubled this year to 200,000 a week. However, the company continues to face supply constraints.