La chaîne d'options affiche les données clés des options sur actions de Eli Lilly à différents prix d'exercice et dates d'expiration. Les traders utilisent ces informations pour analyser les transactions potentielles et évaluer le sentiment du marché pour Eli Lilly..

Eli Lilly (NYSE:LLY) Stock, Chaîne d'Options

Eli Lilly

Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology. Lilly's key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, and Humulin for cardiometabolic; and Taltz and Olumiant for immunology.

Eli Lilly and Co

HARVEST ELI LILLY HG CL U UNT ETF

Liberty Media Corporation - Series A Liberty Live Common Stock

Liberty Live Group

LIBERTY LIVE SERIES B by Liberty Media Corporation

Liberty Media Corporation - Series C Liberty Live Common Stock

Tidal Trust II Defiance Daily Target 2X Long LLY ETF

ELI LILLY ORD

In today's rapidly changing and highly competitive business world, it is vital for investors and industry enthusiasts to carefully assess companies. In this article, we will perform a comprehensive industry comparison, evaluating Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) against its key competitors in the Pharmaceuticals industry. By analyzing important financial metrics, market position, and growth prospects, we aim to provide valuable insights for investors and shed light on company's performance within the industry.
<h3>Eli Lilly Background</h3>
Eli Lilly is a drug firm with a focus on neuroscience, cardiometabolic, cancer, and immunology. Lilly's key products include Verzenio for cancer; Mounjaro, Zepbound, Jardiance, Trulicity, Humalog, and Humulin for cardiometabolic; and Taltz and Olumiant for immunology.
<table>
<thead>
<tr>
<th>Company</th>
<th>P/E</th>
<th>P/B</th>
<th>P/S</th>
<th>ROE</th>
<th>EBITDA (in billions)</th>
<th>Gross Profit (in billions)</th>
<th>Revenue Growth</th>
</tr>
</thead>
<tbody>
<tr>
<td>Eli Lilly and Co</td>
<td>86.87</td>
<td>53.74</td>
<td>17.84</td>
<td>6.98%</td>
<td>$2.25</td>
<td>$9.27</td>
<td>20.43%</td>
</tr>
<tr>
<td>Novo Nordisk AS</td>
<td>37.48</td>
<td>29.76</td>
<td>13.06</td>
<td>18.97%</td>
<td>$35.74</td>
<td>$57.79</td>
<td>25.34%</td>
</tr>
<tr>
<td>Johnson &amp; Johnson</td>
<td>26.16</td>
<td>5.43</td>
<td>4.38</td>
<td>3.8%</td>
<td>$5.38</td>
<td>$15.51</td>
<td>5.25%</td>
</tr>
<tr>
<td>AstraZeneca PLC</td>
<td>34.67</td>
<td>5.60</td>
<td>4.54</td>
<td>5.01%</td>
<td>$4.12</td>
<td>$10.76</td>
<td>13.33%</td>
</tr>
<tr>
<td>Novartis AG</td>
<td>19.29</td>
<td>5.10</td>
<td>4.54</td>
<td>7.5%</td>
<td>$5.61</td>
<td>$9.94</td>
<td>8.93%</td>
</tr>
<tr>
<td>Zoetis Inc</td>
<td>32.93</td>
<td>15.16</td>
<td>8.75</td>
<td>12.45%</td>
<td>$0.97</td>
<td>$1.69</td>
<td>8.3%</td>
</tr>
<tr>
<td>GSK PLC</td>
<td>23.51</td>
<td>4.16</td>
<td>1.88</td>
<td>-0.41%</td>
<td>$1.17</td>
<td>$5.62</td>
<td>-1.66%</td>
</tr>
<tr>
<td>Takeda Pharmaceutical Co Ltd</td>
<td>23.52</td>
<td>0.98</td>
<td>1.50</td>
<td>1.26%</td>
<td>$388.51</td>
<td>$821.04</td>
<td>14.11%</td>
</tr>
<tr>
<td>Dr Reddy's Laboratories Ltd</td>
<td>18.68</td>
<td>3.52</td>
<td>3.60</td>
<td>4.84%</td>
<td>$21.72</td>
<td>$46.34</td>
<td>13.87%</td>
</tr>
<tr>
<td>Jazz Pharmaceuticals PLC</td>
<td>18.55</td>
<td>1.80</td>
<td>1.96</td>
<td>4.52%</td>
<td>$0.36</td>
<td>$0.91</td>
<td>6.95%</td>
</tr>
<tr>
<td>Corcept Therapeutics Inc</td>
<td>39.74</td>
<td>8.21</td>
<td>8.87</td>
<td>7.56%</td>
<td>$0.05</td>
<td>$0.18</td>
<td>47.69%</td>
</tr>
<tr>
<td>Organon &amp; Co</td>
<td>3.35</td>
<td>8.84</td>
<td>0.68</td>
<td>112.72%</td>
<td>$0.4</td>
<td>$0.92</td>
<td>4.15%</td>
</tr>
<tr>
<td>Prestige Consumer Healthcare Inc</td>
<td>18.04</td>
<td>2.18</td>
<td>3.33</td>
<td>2.94%</td>
<td>$0.08</td>
<td>$0.15</td>
<td>-4.36%</td>
</tr>
<tr>
<td>Average</td>
<td>24.66</td>
<td>7.56</td>
<td>4.76</td>
<td>15.1%</td>
<td>$38.68</td>
<td>$80.9</td>
<td>11.83%</td>
</tr>
</tbody>
</table>
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 </style>Through an analysis of Eli Lilly, we can infer the following trends: 
<ul>
<li>
At 86.87, the stock's Price to Earnings ratio significantly exceeds the industry average by 3.52x, suggesting a premium valuation relative to industry peers.
</li>
<li>
With a Price to Book ratio of 53.74, which is 7.11x the industry average, Eli Lilly might be considered overvalued in terms of its book value, as it is trading at a higher multiple compared to its industry peers.
</li>
<li>
With a relatively high Price to Sales ratio of 17.84, which is 3.75x the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
With a Return on Equity (ROE) of 6.98% that is 8.12% below the industry average, it appears that the company exhibits potential inefficiency in utilizing equity to generate profits.
</li>
<li>
With lower Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $2.25 Billion, which is 0.06x below the industry average, the company may face lower profitability or financial challenges.
</li>
<li>
With lower gross profit of $9.27 Billion, which indicates 0.11x below the industry average, the company may experience lower revenue after accounting for production costs.
</li>
<li>
The company's revenue growth of 20.43% is notably higher compared to the industry average of 11.83%, showcasing exceptional sales performance and strong demand for its products or services.
</li>
</ul>
<h3>Debt To Equity Ratio</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730818822_0.png" alt="debt to equity" />
The debt-to-equity (D/E) ratio is a key indicator of a company's financial health and its reliance on debt financing.
Considering the debt-to-equity ratio in industry comparisons allows for a concise evaluation of a company's financial health and risk profile, aiding in informed decision-making.
In terms of the Debt-to-Equity ratio, Eli Lilly can be assessed by comparing it to its top 4 peers, resulting in the following observations:
<ul>
<li>
When evaluating the debt-to-equity ratio, Eli Lilly is in the middle position among its top 4 peers.
</li>
<li>
The company maintains a moderate level of debt relative to its equity with a debt-to-equity ratio of 2.19, suggesting a relatively balanced financial structure.
</li>
</ul>
<h3>Key Takeaways</h3>
For Eli Lilly in the Pharmaceuticals industry, the PE, PB, and PS ratios are all high compared to its peers, indicating overvaluation. The low ROE, EBITDA, and gross profit suggest lower profitability and operational efficiency relative to industry competitors. However, the high revenue growth rate may present a potential opportunity for Eli Lilly to improve its financial performance and competitive position in the future.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Assessing Eli Lilly's Performance Against Competitors In Pharmaceuticals Industry

Piper Sandler has initiated coverage on Nektar Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKTR#NASDAQ">NKTR</a>), citing the company&#8217;s lead asset rezpegaldesleukin&#8217;s (REZPEG) differentiated mechanism of action.
The analyst writes that Alopecia areata (AA) is an inflammatory skin disorder where patients require lifelong use of JAK inhibitors. Thus, REZPEG&#8217;s Treg mechanism has the potential to not only restore immune privilege but also provide durable disease control and transform patient quality of life.
In August, Nektar Therapeutics said its former partner,&nbsp;Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), had presented &#8220;erroneous data&#8221; from two Phase 1b <a target="_blank" href="https://www.benzinga.com/general/biotech/23/08/33603172/why-is-nektar-therapeutics-stock-surging-today" rel="noreferrer noopener">studies of Rezpeg</a>.
In April, Nektar Therapeutics announced a strategic plan to reprioritize assets and restructure costs.
Regarding clinical programs, Nektar will prioritize the development of Rezpeg, either in collaboration with current partner Eli Lilly or&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/04/31850290/analyst-says-nektar-therapeutics-rezpeg-prioritization-likely-to-spark-investor-que" rel="noreferrer noopener">on its own in the future</a>.&nbsp;
Piper analyst writes, &#8220;Thus, by selectively stimulating Tregs, we believe REZPEG is uniquely positioned to restore immune homeostasis and mitigate the pro-inflammatory cascade across diseases&#8230;&#8221;
&#8220;REZPEG is strongly positioned to restore immune privilege and transform SoC,&#8221; the analyst adds.
Piper maintains a high probability of success for 36-week Phase 2b REZOLVE-AA n=84 Alopecia areata (AA) patients, with topline data expected in the first half of 2025.
Piper initiates with an Overweight rating and a price target of $7, an <a target="_blank" href="https://www.benzinga.com/quote/NKTR/analyst-ratings" rel="noreferrer noopener">upside of over 400%</a>.
Price Action: NKTR stock is up 10.2% at $1.355 at last check Monday.
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Deutsche Bank analyst James Shin maintains Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) with a Buy and lowers the price target from $1025 to $1015.

Deutsche Bank Maintains Buy on Eli Lilly, Lowers Price Target to $1015

Hims &amp; Hers Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) shares are moving higher Monday ahead of earnings after the bell. Here&#8217;s what you need to know <a href="https://www.benzinga.com/calendars/earnings">before the report</a>. 
What To Know: Hims &amp; Hers Health will report third-quarter financial results after the market close on Monday. Analysts expect the company to report earnings of 4 cents per share and revenue of $382.2 million, according to estimates from <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Hims &amp; Hers Health has exceeded analyst estimates on the top and bottom lines in three consecutive quarters heading into Monday&#8217;s print. 
Last quarter, the company easily beat estimates as revenue increased 52% year-over-year and subscribers jumped 43% to 1.9 million. 
Hims &amp; Hers Health guided for third-quarter revenue of $375 million to $380 million and raised guidance for the full year from a range of $1.2 billion to $1.23 billion to a new range of $1.37 billion to $1.4 billion. 
&#8220;An approach to democratizing access to high-quality personalized solutions on our platform at an affordable price continues to resonate with consumers. We are seeing this improve our ability to attract new users to longer-tenured specialties, while also allowing us to more rapidly scale new specialties,&#8221; CFO Yemi Okupe said in the earnings release.
Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41715442/trump-media-stock-volatile-on-election-eve-as-polls-betting-markets-predict-tight-white-ho">Trump Media Stock Volatile On Election Eve As Polls, Betting Markets Predict Tight White House Race</a>
Hims &amp; Hers Health shares are up approximately 135% year-to-date heading into the print. The stock really took off in May after the company announced it would&nbsp;begin selling compounded versions&nbsp;of GLP-1 injections.
Hims and Hers Health shares experienced increased volatility last month after the FDA removed Eli Lilly And Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) Mounjaro, which is used to treat diabetes, and weight-loss drug Zepbound from its shortage list. Mounjaro had been on the regulator's shortage list since late 2022, and Zepbound had been on the list since April.
Novo Nordisk&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) diabetes drug Ozempic and weight-loss drug Wegovy were also removed from the <a href="https://www.benzinga.com/news/24/10/41636725/hims-hers-health-stock-is-trading-lower-wednesday-heres-why">FDA&#8217;s shortage list</a> last week. 
Hims &amp; Hers Health sells cheaper versions of Eli Lilly and Novo Nordisk&#8217;s drugs, known as compounded drugs. Investors and analysts will be looking for updates in the third-quarter report on how the company expects recent FDA shortage changes to impact the company&#8217;s sales moving forward. 
HIMS Price Action: <a href="http://benzinga.com/quote/hims" target="_blank" rel="noreferrer noopener">Hims &amp; Hers Health shares</a> were up 3.93% at $21.16 at the time of publication, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: Shutterstock.

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What's Going On With Hims & Hers Health Stock Monday?

Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) is advancing its research on a pioneering hybrid drug, CagriSema. This drug merges semaglutide and cagrilintide and aims to reduce weight by 25% without added side effects.
What Happened: The Danish pharmaceutical giant is contending with rivals like Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), also crafting next-gen weight-loss medications. Eli Lilly&#8217;s Zepbound, or Mounjaro, has demonstrated superior weight loss results compared to Novo&#8217;s Wegovy. Novo&#8217;s CagriSema targets a secondary gut hormone, amylin, potentially offering a more potent solution.
The development of the new drug, as <a href="https://www.bloomberg.com/news/features/2024-11-04/ozempic-maker-novo-nordisk-s-new-obesity-drug-targets-biggest-weight-loss-yet">reported</a> by Bloomberg on Monday, seeks to sustain Novo&#8217;s leadership in the fiercely competitive obesity treatment sector.
CagriSema might resolve the prevalent issue of weight regain post-treatment with obesity drugs. The combination of semaglutide and cagrilintide could also be beneficial for type 2 diabetes management. Novo&#8217;s development chief, Martin Holst Lange, has shown optimism about the drug&#8217;s promise, though he refrained from making any guarantees.
See Also: <a href="https://www.benzinga.com/general/biotech/24/11/41685445/fda-panel-rejects-lexicons-zynquista-for-type-1-diabetes?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">FDA Panel Rejects Lexicon&#8217;s Zynquista For Type 1 Diabetes</a>
With Novo&#8217;s earnings report approaching and investor concerns mounting, the results from CagriSema&#8217;s extensive clinical trial, anticipated in December, are pivotal. A successful trial could bolster the company&#8217;s market standing, whereas failure might result in substantial financial challenges, as noted by UBS Group AG analyst Jo Walton.
Why It Matters: The obesity drug market is witnessing a transformative phase, with <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41296978/novo-nordisk-eli-lilly-could-face-downward-pressure-despite-market-dominance-from-p">16 new obesity drugs</a> expected to emerge by 2029, potentially altering the dominance of current leaders like Novo Nordisk and Eli Lilly. These upcoming treatments aim to exceed existing efficacy levels while offering more convenient dosing options, such as oral and monthly injections. This shift, driven by innovation and competition, could reshape the market landscape despite Novo and Lilly&#8217;s current stronghold.
Furthermore, Novo Nordisk is under increasing political scrutiny over the high U.S. prices of its weight-loss drugs, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41025381/exclusive-novo-nordisk-faces-political-heat-over-weight-loss-drug-prices-ahead-of-e">Ozempic and Wegovy</a>, especially as the U.S. presidential election approaches. The significant price disparity between the U.S. and other markets has attracted criticism from lawmakers, placing the company in the political spotlight. 
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo via Shutterstock

As Race To Best 'Miracle' Obesity Drug Heats Up, Ozempic Maker Novo Nordisk Tests New Hybrid Drug That Can Reduce Weight Up To 25%

&nbsp;Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) today announced that data from the Phase 3 trial (EMBER-3) for imlunestrant, an oral selective estrogen receptor degrader (SERD), will be reported for the first time in a late-breaking oral presentation at the <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4292744-1&amp;h=3267956950&amp;u=https%3A%2F%2Fsabcs.org%2F&amp;a=San+Antonio+Breast+Cancer+Symposium+(SABCS)">San Antonio Breast Cancer Symposium (SABCS)</a> taking place December 10-13 in San Antonio, TX. EMBER-3 is a study in estrogen receptor positive (ER+), human epidermal growth factor receptor 2 negative (HER2-) advanced breast cancer. The trial is evaluating imlunestrant alone or in combination with Verzenio (abemaciclib; CDK4/6 inhibitor), in patients who were pretreated with endocrine therapy, with or without a CDK4/6 inhibitor.
Lilly will also share results of a real-world analysis of risk of recurrence by nodal status and high-risk features in patients with hormone receptor positive (HR+), HER2- early breast cancer. Additional presentations from investigational mutant selective PI3Ka inhibitor assets include preclinical characterization data for LY4045004, which is expected to enter the clinic in the first half of 2025, and Phase 1a/b clinical data for a predecessor molecule, LOXO-783, which informed the development of LY4045004.

Lilly To Present Results From Phase 3 EMBER-3 Study Of Imlunestrant, An Oral SERD, And Additional Results From Its Breast Cancer Portfolio At The San Antonio Breast Cancer Symposium

The U.S. stock market experienced a setback at the end of October, breaking a five-month winning streak as election uncertainties and mixed tech <a href="https://www.benzinga.com/earnings">earnings dampened risk sentiment</a>.
A key measure of market turbulence, the CBOE Volatility Index, or VIX, surged by 34% last month, marking the third-largest increase for an October <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41665265/vix-index-notches-third-strongest-october-spike-in-an-election-year-s-p-500-snaps-5">in an election year.</a>
Tech giants' earnings were underwhelming, except for Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). None of the other &#8220;Magnificent Seven&#8221; companies posted positive weekly performance. As a result, the Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) fell nearly 2% for the week. This marks the worst weekly performance in two months.
Among mega-cap companies, the top performers for the week were Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) and Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), both rising approximately 9%. Booking also marked the strongest weekly gains since August 2022. 
The main laggards were Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), down 9% and 8%, respectively, for the week. 
On the macroeconomic front, the U.S. economy saw a surprising slowdown in job growth in October, with <a href="https://www.benzinga.com/news/econ-s/24/11/41684710/us-economy-adds-only-12-000-jobs-in-october-sharply-misses-estimates-as-hurricane-strikes-pummel-hir">nonfarm payrolls increasing by just 12,000</a>—nearly a four-year low and well below the expected 113,000.
Factors such as hurricanes and strikes likely contributed to the hiring slowdown, while unemployment held relatively steady, indicating no significant rise in layoffs.
The labor market report has strengthened expectations for Federal Reserve rate cuts. Markets are fully pricing in a 25-basis-point cut at Thursday's meeting and assigning an 85% probability to a similar cut at the Fed&#8217;s final meeting of the year in of December.
<h3 class="wp-block-heading">State Betting Odds</h3>
As the 2024 U.S. presidential election approaches, state-by-state betting odds reveal a tight race between Donald Trump and Kamala Harris, with key battleground states like Pennsylvania, Michigan, and Arizona showing narrow margins, making them pivotal <a href="https://www.benzinga.com/general/sports-betting/24/10/41589659/trump-vs-harris-state-by-state-2024-election-betting-odds-which-candidate-is-favored-to-wi">in the final outcome.</a>
<h3 class="wp-block-heading">Gold ETF Surge</h3>
The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) saw $1.8 billion in inflows during October, its highest in over two years. Rising investment demand continues pushing gold toward record highs as investors turn to this safe-haven asset at a time of political <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41663633/biggest-gold-etf-posts-highest-monthly-inflows-in-2-5-years-as-investors-rush-to-">upheaval and fiscal uncertainty.</a>
Ford Halts F-150 Lightning Production
Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) is pausing F-150 Lightning production from Nov. 18 to Jan. 6, responding to Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)'s Cybertruck sales surge. The move aims to recalibrate production with demand and improve profitability for <a href="https://www.benzinga.com/news/24/11/41677673/ford-f-150-lightning-pickup-truck-production-to-be-halted-temporarily-after-teslas-cybertruck-races">the Michigan-based automaker.</a>
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TSLA

Market Volatility Soars Ahead Of Elections, Tech Earnings Mixed, Strikes And Hurricanes Knock Employment Down: This Week In The Markets

On Friday, Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) released headline results from part 1 of the ongoing ESSENCE Phase 3 trial, a 240-week trial in 1,200 adults with metabolic dysfunction-associated steatohepatitis (MASH) and moderate to advanced liver fibrosis (stage 2 or 3).
Once-weekly, subcutaneous semaglutide 2.4 mg is marketed under the brand name Wegovy.
Part 1 of the ESSENCE trial <a target="_blank" href="https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=171971" rel="noreferrer noopener">evaluated</a> the effect of once-weekly semaglutide 2.4 mg on liver tissue (histology) compared to placebo on top of standard of care for the first 800 randomized people at 72 weeks.
The trial achieved its primary endpoints by demonstrating a statistically significant and superior improvement in liver fibrosis with no worsening of steatohepatitis and resolution of steatohepatitis with no worsening of liver fibrosis with semaglutide 2.4 mg compared to placebo.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41527988/ozempic-can-potentially-cut-risk-of-alzheimers-compared-to-other-diabetic-medicines-study-shows" rel="noreferrer noopener">Ozempic Can Potentially Cut Risk Of Alzheimer&#8217;s Compared To Other Diabetic Medicines, Study Shows</a>
At week 72, 37.0% of people treated with semaglutide 2.4 mg improved liver fibrosis with no worsening of steatohepatitis compared to 22.5% on placebo.&nbsp;
62.9% of people treated with semaglutide 2.4 mg achieved resolution of steatohepatitis&nbsp;with no worsening of liver fibrosis compared to 34.1% on placebo.
In the trial, semaglutide 2.4 mg appeared to have a safe and well-tolerated profile in line with previous semaglutide 2.4 mg trials.
Novo Nordisk expects to file for regulatory approvals in the U.S. and EU in the first half of 2025.
The detailed results from ESSENCE will be presented at a scientific conference in 2024.
Part 2 of the ESSENCE trial will continue with the expected readout in 2029.
The update comes as the FDA revised its shortage list to&nbsp;<a target="_blank" href="https://www.accessdata.fda.gov/scripts/drugshortages/dsp_ActiveIngredientDetails.cfm?AI=Semaglutide%20Injection&amp;st=c&amp;tab=tabs-1" rel="noreferrer noopener">note</a> that the .25 mg starter dose of semaglutide-based obesity med Wegovy is now available in the U.S.
Less than a month ago, the FDA removed Eli Lilly And Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) tirzepatide <a target="_blank" href="https://www.benzinga.com/news/24/10/41436151/eli-lilly-sues-some-vendors-for-unauthorized-sale-of-fake-weight-loss-drug" rel="noreferrer noopener">from its shortage list</a>.
In October, Novo Nordisk shared data from the SOUL Phase 3 cardiovascular outcomes trial that evaluated subcutaneous once-weekly (injectable) semaglutide 2.4 mg.
The trial achieved its primary objective by demonstrating a statistically significant and superior reduction in MACE of 14% for people treated with oral semaglutide <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41426815/wegovy-maker-novo-nordisks-oral-diabetes-pill-cuts-heart-attacks-stroke-events-by-14" rel="noreferrer noopener">compared to placebo</a>.
Major adverse cardiovascular events (MACE) are defined as cardiac arrest, stroke, heart failure, or cardiovascular death.
Price Action: NVO stock is up 0.88% at $112.93 during the premarket session at the last check on Friday.
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Photo by Tobias Arhelger via Shutterstock

Popular Weight Loss Drug Wegovy Shows Encouraging Results in Liver Fibrosis Trial

Barclays analyst Carter Gould maintains Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) with a Overweight and lowers the price target from $1025 to $975.

Barclays Maintains Overweight on Eli Lilly, Lowers Price Target to $975

Live On CNBC, Stephanie Link Announces Bought More Eli Lilly And Company

B of A Securities analyst Geoff Meacham maintains Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) with a Buy and lowers the price target from $1150 to $1100.

B of A Securities Maintains Buy on Eli Lilly, Lowers Price Target to $1100

The CNN Money Fear and Greed index remained in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled lower on Wednesday, with the Nasdaq Composite falling more than 100 points during the session.
Eli Lilly and Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) posted worse-than-expected third-quarter earnings and lowered 2024 guidance. Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) reported better-than-expected third-quarter financial results on Wednesday. Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) also reported upbeat first-quarter financial results after market close Wednesday.
On the economic data front, pending home sales in the U.S. surged by 7.4% from the previous month in September, compared to a 0.6% gain in August. The U.S. economy grew by an annualized 2.8% in the third quarter, from 3% in the second quarter. Private businesses in the U.S. hired 233K workers to their payrolls in October compared to a revised 159K gain in September.
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, real estate and financial stocks recording the biggest gains on Wednesday. However, information technology and consumer staples stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 92 points to 42,141.54 on Wednesday. The S&amp;P 500 fell 0.33% to 5,813.67, while the Nasdaq Composite fell 0.56% at 18,607.93 during Wednesday's session.
Investors are awaiting earnings results from Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) today.
At a current reading of 57.6, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 57.7.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Pre-Market Outlook

AAPL

MSFT

UBER

Nasdaq Tumbles Over 100 Points Ahead Of Big Tech Earnings: Fear & Greed Index Remains In 'Greed' Zone

To gain an edge, this is what you need to know today.
<figure class="wp-block-image size-large is-resized"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/10/2024-10-30_07h53_04.png" alt="" style="width:624px" /></figure>
<h3 class="wp-block-heading">Strong ADP Data</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-tech-earnings-nvidia-software-amd-mc-10302024">click here </a>for an enlarged chart of Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>).
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock. The chart of AMD stock is being used to illustrate the point.</li>
<li>The chart shows the momo crowd buying AMD stock yesterday ahead of the earnings release.</li>
<li>The chart shows when earnings were released.</li>
<li>The chart shows the drop in AMD stock after earnings.</li>
<li>The chart shows the proprietary Arora Report VUD indicator changed to orange when earnings were released and continues to be orange today in the premarket.&nbsp; This indicates a net supply of AMD stock.</li>
<li>AMD reported earnings inline with the consensus and provided decent guidance.&nbsp; Why did the stock fall?&nbsp; The reason is that the whisper numbers for AI GPU guidance were approaching $6B.&nbsp; AMD guided above $5B for 2024 – this was inline with consensus.&nbsp; As we have been sharing with you, stocks move based on the difference between reported numbers and whisper numbers.</li>
<li>The reason that AMD was not able to meet the whisper numbers is that even though AMD chips for AI are excellent, AMD does not have the software and the whole system like NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).&nbsp; This limits AMD's market even though AMD is offering cheaper price points compared to Nvidia.&nbsp; AMD has recently bought a systems company in an attempt to catch up to NVDA.&nbsp; However, in The Arora Report analysis, it will take a long time for AMD to catch up with NVDA.&nbsp; Nvidia's CUDA is a parallel computing platform and programming model.&nbsp; Thousands of developers have been using CUDA to harness the power of AI for years.</li>
<li>Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) reported earnings yesterday after the close.&nbsp; Alphabet earnings show data center growth.&nbsp; Data center growth means AI growth.&nbsp; However, in The Arora Report analysis, there is risk in GOOG stock because Google has over 90% of the search market.&nbsp; It is hard to see Google gaining share from here.&nbsp; Even a drop of a few percentage points will substantially hit earnings.</li>
<li>Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) earnings are ahead after the close.&nbsp; In The Arora Report analysis, stocks will move based not only on the earnings but how well the companies are able to monetize AI.</li>
<li>The Arora Report shared early on that AI was real and a fortune was to be made from AI.&nbsp; We have also been sharing with you that it is important to develop deep knowledge because at times it will be treacherous.&nbsp; We have illustrated the treacherousness of following the momo crowd in AI with the example of Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>).&nbsp; When everyone was bullish and SMCI was trading above $120, The Arora Report call was that SMCI was worth only $44 &#8211; $48 at best.&nbsp; SMCI is falling about 33% to about $32 as of this writing in the premarket on the news that its independent auditor resigned.</li>
<li>Just released GDP data shows that the economy is strong even though the numbers are less than the consensus.&nbsp; GDP is a lagging indicator.&nbsp; The Arora Report system focuses on leading indicators.&nbsp; Here are the details of the GDP data:
<ul>
<li>Q3 GDP-Adv came at 2.8% vs. 3.0% consensus.</li>
<li>Q3 Chain Deflator-Adv came at 1.8% vs. 2.3% consensus.</li>
</ul>
</li>
<li>Automatic Data Processing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) data indicates a strong jobs picture.&nbsp; ADP is the largest payroll processor in the country and uses its data to give an advanced glimpse of the jobs picture ahead of the official jobs report that will be released on Friday at 8:30am ET.&nbsp; In The Arora Report analysis, if the official jobs report also shows a strong jobs picture, it will decrease the probability that the Fed will cut interest rates at the next meeting.&nbsp;&nbsp;
<ul>
<li>ADP employment change came at 223K vs. 105K consensus.</li>
</ul>
</li>
<li>ADP data is one more data point that has gone against the reason the Fed gave to cut interest rates by 50 bps in September.&nbsp; As we have been writing, almost all of the data has gone against the Fed's reasoning for cutting rates by 50 bps.&nbsp;&nbsp;</li>
<li>In a major setback, Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) missed the earnings consensus.&nbsp; LLY stock has fallen about 10% as of this writing in the premarket.&nbsp; In sympathy, the stock of Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) is also falling.&nbsp; LLY and NVO stocks have been riding high on weight loss drugs.&nbsp; As full disclosure, LLY stock is in The Arora Report&#8217;s ZYX Buy Core Model Portfolio, long from $318.45.&nbsp; As of this writing, LLY stock is trading at $807.</li>
<li>Jobless claims, personal income and spending, and &nbsp;Fed&#8217;s favorite inflation gauge PCE will all be released tomorrow at 8:30am ET.</li>
</ul>
<h3 class="wp-block-heading">Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), MSFT, GOOG, and META.
In the early trade, money flows are negative in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and NVDA.
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h3>
Investors can gain an edge by knowing money flows in SPY and QQQ.&nbsp; Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.&nbsp; The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).&nbsp; The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).&nbsp; The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h3 class="wp-block-heading">Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound.
<h3 class="wp-block-heading">Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3 class="wp-block-heading">Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

Market Summary

Tech

$BTC

GOOG

NVDA

SMCI

AMD Earnings Show Power Of Nvidia Software, ADP Data Defies Expectations

On Tuesday, Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) reported third-quarter sales of $12.823 billion, up 9% (+10% on constant currency), beating the <a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41598312/novartis-q3-earnings-beats-expectations-on-strong-sales-from-key-drugs-lifts-2024-outlook" rel="noreferrer noopener">consensus of $12.76 billion</a>.
Guidance: Novartis also raised its 2024 full-year guidance again this year.
In a statement, Novartis said it expects full-year core operating income to grow by a &#8220;high teens&#8221; percentage, compared with previous guidance of a &#8220;mid-to-high teens&#8221; percentage.
Novartis forecasts full-year sales growth in the low double digits, having previously guided for high-single to low-double-digit growth.
Pelabresib filing was further delayed, triggering a $800 million impairment charge related to the $2.9 billion <a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38497134/morphosys-says-novartis-deal-progressing-steadily-despite-safety-concerns-over-bone-marrow-cancer" rel="noreferrer noopener">acquisition of MorphoSys</a>.
Earlier this year, MorphoSys faced&nbsp;a burgeoning safety concern surrounding&nbsp;pelabresib.
Goldman Sachs notes that MorphoSys-related impairment charge is somewhat underwhelming, raising doubts about the company&#8217;s M&amp;A strategy.
Truist notes that Novartis is concentrating on preparing the market for the PSMAFore label, which is expected to triple its addressable market.
They also pointed out that growth opportunities in China and Japan, and metastatic hormone-sensitive prostate cancer (mHSPC) and oligometastatic disease, could push Pluvicto&#8217;s sales well above the projected $2 billion peak.
The company is committed to maximizing the potential of Pluvicto and its radioligand therapy (RLT) portfolio.
For other radiopharmaceutical companies targeting PSMA, entering this market may become more challenging.
A crucial question remains regarding the standards that must be met to compete with more effective radioligand products. This context relates to companies such as Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Bristol Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), which have RLT products in their pipelines, as well as smaller companies, including Y-mAbs Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YMAB#NASDAQ">YMAB</a>) and Perspective Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CATX#NASDAQ">CATX</a>).
Novartis highlighted continued strong growth and momentum and sees room to grow the market size for B-cell inhibition in multiple sclerosis, relating Biogen Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>).
Truist highlights Novartis&#8217; strong balance sheet, which enables further bolt-on deals and share buybacks. Recent transactions primarily involve deals in the sub-$1 billion range, along with a few larger bolt-on acquisitions.
A Truist analyst indicated that they will be monitoring how the adoption of Leqvio may affect Amgen Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) Repatha and Regeneron Pharmaceuticals Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) Praluent. Meanwhile, Novartis has reported that the launch is advancing smoothly, and Leqvio continues to grow, outpacing the overall market as per the management.
Novartis&#8217; Cosentyx witnessed strong uptake and continued brand growth driven by hidradenitis suppurativa expansion, and the market opportunity can accommodate several players, Abbvie Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NASDAQ">ABBV</a>), Incyte Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>), and Kymera Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KYMR#NASDAQ">KYMR</a>).
Price Action: NVS stock is down 0.48% at $110.00 at last check Wednesday.
Photo by Taljat David via Shutterstock
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41629995/orthopedic-implant-maker-zimmer-biomet-reports-better-than-expected-q3-earnings-updates-annual-fore" target="_blank" rel="noreferrer noopener">Orthopedic Implant Maker Zimmer Biomet Reports Better-Than-Expected Q3 Earnings, Updates Annual Forecasts</a></li>
</ul>

ABBV

AMGN

BIIB

CATX

INCY

KYMR

REGN

YMAB

Positive Outlook For Novartis As Company Capitalizes On Growing Treatment Opportunities, Analyst Highlights

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining around 0.1% on Wednesday.
The Dow traded up 0.07% to 42,262.68 while the NASDAQ fell 0.05% to 18,703.09. The S&amp;P 500 also fell, dropping, 0.03% to 5,831.09.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41599928/top-3-tech-and-telecom-stocks-which-could-rescue-your-portfolio-for-october">Top 3 Tech And Telecom Stocks Which Could Rescue Your Portfolio For October</a>
Leading and Lagging Sectors Communication services shares rose by 1.8% on Wednesday.
In trading on Wednesday, information technology shares fell by 0.9%.
Top Headline
On Wednesday, Eli Lilly and Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) posted worse-than-expected third-quarter earnings and lowered 2024 guidance.
The U.S. pharma giant reported third-quarter revenue of $11.44 billion, up 20% year over year, but it missed the consensus of $12.10 billion. The company reported an adjusted EPS of $1.18, compared to $0.10 from a year ago and missing the consensus of $1.45.
Eli Lilly said it sees fiscal year 2024 sales of $45.4 billion—$46 billion, compared to prior guidance of $45.4 billion—$46.6 billion and consensus of $46.24 billion. Eli Lilly lowered its 2024 adjusted EPS guidance to $13.02-$13.52 versus prior guidance of $16.10-$16.60 and consensus of $13.47, driven by the acquired IPR&amp;D charges incurred in Q3.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Tharimmune, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THAR#NASDAQ">THAR</a>) shares shot up 79% to $3.61 after the company announced it received EMA feedback on its TH104 clinical program. The design and main features of the proposed Phase 2 study were deemed acceptable and general guidance was also provided for a future Phase 3 study.</li>
<li>Shares of Omnicell, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMCL#NASDAQ">OMCL</a>) got a boost, surging 31% to $52.47 after the company reported better-than-expected third-quarter financial results and raised its FY24 guidance above estimates.</li>
<li>Reddit, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) shares were also up, gaining 44% to $117.36 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter revenue guidance above estimates.</li>
</ul>
<h3 class="wp-block-heading">Equities Trading DOWN</h3>
<ul>
<li>SRIVARU Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVMH#NASDAQ">SVMH</a>) shares dropped 55% to $0.0304 after the company announced it upsized its $6.8 million public offering.</li>
<li>Shares of The Container Store Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TCS#NYSE">TCS</a>) were down 37% to $5.27 following second-quarter results.</li>
<li>Applied DNA Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APDN#NASDAQ">APDN</a>) was down, falling 39% to $0.1938 after the company announced the pricing of a registered direct offering of 20,312,500 shares at $0.32 per share. The company also announced a concurrent private placement.</li>
</ul>
Commodities In commodity news, oil traded up 2.3% to $68.75 while gold traded up 0.7% at $2,799.70.
Silver traded down 1% to $34.095 on Wednesday, while copper rose 0.1% to $4.3640.
Euro zone
European shares closed lower today. The eurozone's STOXX 600 dipped 1.25%, Germany's DAX fell 1.13% and France's CAC 40 slipped 1.10%. Spain's IBEX 35 Index fell 0.68%, while London's FTSE 100 fell 0.73%.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei 225 gaining 0.96%, Hong Kong's Hang Seng Index dipping 1.55%, China's Shanghai Composite Index falling 0.61% and India's BSE Sensex falling 0.53%.
Economics
<ul>
<li>Pending home sales in the U.S. surged by 7.4% from the previous month in September, compared to a 0.6% gain in August.</li>
<li>The U.S. economy grew by an annualized 2.8% in the third quarter, from 3% in the second quarter.</li>
<li>Private businesses in the U.S. hired 233K workers to their payrolls in October compared to a revised 159K gain in September. </li>
<li>Crude oil inventories in the U.S. declined by 0.515 million barrels in the week ended October 25, compared to a 5.474 million gain in the prior week and versus market estimates of a 2.3 million gain.</li>
</ul>
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Crude Oil Gains Over 2%; Eli Lilly Cuts 2024 Forecast

<a href="https://www.statnews.com/2024/10/30/novo-nordisk-ozempic-wegovy-fda-available-or-in-shortage/">https://www.statnews.com/2024/10/30/novo-nordisk-ozempic-wegovy-fda-available-or-in-shortage/</a>
All doses of Novo Nordisk&#39;s blockbuster diabetes and obesity treatments are <a href="https://dps.fda.gov/drugshortages/activeingredient/semaglutide-injection">listed as available</a> on the Food and Drug Administration&#39;s drug shortage list as of Wednesday, raising the possibility that the medications could soon be taken off the list entirely, a development that could affect compounding pharmacies and patients relying on compounded drugs.
Semaglutide, the scientific name for Novo&#39;s GLP-1 diabetes drug Ozempic and obesity drug Wegovy, has been on the shortage list for over two years, with different doses being listed in shortage at various times. With all doses now listed as available, the FDA may soon pull it off the list, depending on its conversations with Novo about whether the company can sufficiently meet demand going forward.
Over the past two years, patients seeking treatment have been turning to compounding pharmacies, which make cheaper copies of branded treatments and are legally allowed to do so only when the branded treatments are listed on the FDA&#39;s shortage list.&nbsp;

&nbsp;

DRIO

RHHBY

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Reported Earlier, 'Novo Nordisk's Ozempic and Wegovy, long in shortage, are now listed as available by FDA; It remains unclear how the update could affect patients as well as compounders' - STAT News

Wall Street experienced a mixed trading session on Wednesday as investors weigh a batch of corporate earnings <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41623984/us-economy-grows-less-than-expected-in-q3-yet-private-employment-soars-by-233-000">and fresh economic data.</a>
The U.S. economy grew at an annualized rate of 2.8% in the third quarter, according to advance estimates. This marks a slight deceleration from the previous quarter's 3% pace and falls short of analyst expectations of 3%.
On the employment front, the ADP National Employment report showed private payrolls surged by 233,000 in October —well above the 115,000 forecast and a significant increase from the revised 159,000 in September. This stronger-than-expected job growth underscores the resilience of the labor market ahead of Friday&#8217;s official jobs report.
In corporate news, Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) dropped 10% after posting quarterly results that met expectations but failed to excite investors. The decline in AMD shares dragged down the broader semiconductor sector, with the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>) sliding over 3%.
In contrast, Alphabet Inc. jumped more than 5% following a robust earnings report that beat Wall Street expectations, boosting optimism around mega-cap tech stocks.
At midday, major U.S. indexes were trading mixed. The S&amp;P 500 and the tech-heavy Nasdaq 100 remained flat, while the small-cap Russell 2000 outperformed with a 0.5% gain.
Gold prices extended all-time highs, up 0.5% to $2,787 per ounce. Oil prices surged 2%, fueled by supply concerns.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) eased 0.8% to $72,100, pulling back from recent highs.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,246.40</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,309.80</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,838.86</td>
<td>0.1 %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,505.98</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
</figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent103024&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.1% higher to $582.16.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.2% to $423.25.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) eased 0.2% to $499.18.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.5% to $222.76.</li>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up by 1.3%. The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) lagged, down 0.9%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) tumbled 33% after auditors Ernst &amp; Young announced their resignation amid reporting issues, five days ahead of the company&#8217;s earnings report. </li>
</ul>
Large-cap stocks reacting to earnings were:
<ul>
<li>Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), down 8%, </li>
<li>Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), up 3.6%, </li>
<li>AbbVie Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) up over 5%, </li>
<li>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), down 1.4%, </li>
<li>Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), down 1%,</li>
<li>Mondelez International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>), up 1%, </li>
<li>Chipotle Mexican Grill Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>), down over 7%, </li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), up 15%,</li>
<li>Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), up 38%, </li>
<li>Automatic Data Processing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>), up 1%, </li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), up 24%. </li>
</ul>
Major companies reporting earnings after the close Wednesday include Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), and Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>).
Read Next:
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Wall Street Mixed, Semiconductors Tumble As AMD Disappoints, Alphabet Rallies, SMCI Plummets: What's Driving Markets Wednesday?

Benzinga Market Summary: Alphabet Rises On Earnings, AMD Shares Fall And Weigh On Chip Stocks, Lilly Down Over 6% Following Q3 Miss

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<li>SMCI</li>
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