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- What Sent Eli Lilly Stock Higher?
Eli Lilly (LLY) shares rose 6.6% on October 29, 2026, while the S&P 500 fell 0.3%, after the company reported third-quarter adjusted EPS of $7.48 against a $5.68 estimate and revenue of $24.4 billion against $22.6 billion. Revenue grew 39% from a year earlier, and Mounjaro and Zepbound together brought in more than $16 billion. About $900 million of the quarter’s revenue came from one-time items, such as milestone payments and changes to rebate and discount estimates; without them, revenue would have been about $23.5 billion, still above estimate. Management raised its 2026 revenue forecast to $91–92 billion, though news reports said the profit forecast was trimmed due to deal charges. The $1,373.70 close was the stock’s highest in 365 days, and it returned 18.7% from September 30 to October 29, against about 1% for the S&P 500.
- We're raising our price target on Eli Lilly as the obesity-drug boom rolls on
Eli Lilly shares rose over 6% to about $1,370, a record closing high, after third-quarter revenue jumped 39% year over year to $24.4 billion, above the LSEG consensus of $22.6 billion. Adjusted EPS rose 6.6% to $7.48, beating analysts' $6.26 estimate, though a sizable acquisition-related accounting charge held back annual profit growth. Adjusted gross margin reached 84.4%, up from 83.6% a year earlier. Mounjaro revenue climbed 65% to $10.7 billion and Zepbound rose 49% to $5.35 billion, as higher patient volumes more than offset lower realized prices. The price target was raised to $1,500 from $1,300 and the 2 rating was reiterated, with shares up more than 50% since the April 29 close.
- Cramer sees opportunity amid tech turmoil and predicts a holiday win for FedEx
Stocks fell Thursday as weak results from several major technology companies weighed on the market, with Alphabet tumbling after missing revenue expectations despite strong Google Cloud growth, and Microsoft falling in the tech selloff despite accelerating Azure revenue growth. Jim Cramer said investors were indiscriminately selling strong companies alongside weaker ones. Eli Lilly shares hit an all-time high after a beat-and-raise quarter driven by demand for its obesity and diabetes treatments, with Lilly capturing 7 out of every 10 new participants in the Medicare GLP-1 Bridge program. FedEx beat quarterly expectations and raised its full-year outlook, but a softer fourth-quarter forecast kept gains in check, and Cramer predicted FedEx will surpass UPS for the first time in the holiday shipping season. FedEx Freight, spun off from FedEx in June, reports earnings after the bell.
- Lilly raises outlook for third time this year as Zepbound sales soar.
Lilly lifted its outlook for the third time this year, driven by strong sales growth for Zepbound. The drug continues to dominate the U.S. prescription weight-loss drug market.
- Eli Lilly is about to report earnings. Here's what to expect
Eli Lilly reported third-quarter adjusted earnings of $7.48 per share and revenue of $24.40 billion, both above analyst estimates of $6.26 and $22.61 billion. The company raised its 2026 revenue forecast to $91–92 billion from $85–87 billion, while its adjusted earnings outlook was lowered to $35–36 per share from $35.50–36.50, reflecting $4.57 per share in deal-related charges. Mounjaro revenue rose 65% to $10.72 billion and Zepbound reached $5.35 billion, up 49%, while the new obesity pill Foundayo brought in $184 million, below forecasts of about $229 million. Net income was $6.45 billion, or $7.22 per share, including those deal charges.
- These 7 Stocks Are Analyst Favorites For Magnificent Earnings Growth; Eli Lilly Leads Industry
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- Stocks Plunge Again as AI Trade Unravels. Nasdaq Sees Worst Day Since June.
US stocks fell again on Friday as traders dropped AI-related trades over spending worries; the Dow lost 1.09%, the S&P 500 1.82%, and the Nasdaq Composite 2.86%, its worst session since June. Amazon fell after reporting negative free cash flow of $42.4 billion over the past 12 months and signaling further AI spending increases. Intel plunged 29%, its worst day since the 1970s, after weaker-than-expected guidance, despite third-quarter revenue rising 21% to $16.5 billion. Its fourth-quarter revenue outlook of $15 billion to $16 billion disappointed investors, while data center and AI revenue rose 78%. Analyst Mark Vena said investors are losing patience with AI spending lacking clear financial milestones and expects a more selective AI trade.
- Apple's $1,999 iPhone Duo is already rewarding buyers who wait
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- Worried About Crypto Hacks? Buy Bitcoin Proxies in Stock Market Instead, Say Wall Street Firms
Analysts at Cantor Fitzgerald, TD Cowen and Compass Point say the roughly $6.3 billion Binance hack, the largest crypto theft ever, is unlikely to derail the broader market's recovery. Cantor's Ramsey El-Assal noted stablecoin issuers froze about $3 billion of the stolen funds, including over $1.5 billion by Tether, and said he would buy on weakness, expecting Coinbase, Robinhood and Strategy shares to recover. TD Cowen views the breach as a Binance security problem rather than a Bitcoin one, while Compass Point says Binance has more than enough liquidity to cover the shortfall, though reimbursements could strain stablecoin supply. Moody's Ratings is more cautious, citing hot-wallet cybersecurity risks and concentration risk at centralized intermediaries, with broader impact depending on final losses and confidence. Binance has set aside $6.34 billion to cover losses, the Secret Service and FBI have opened a probe, and TRM and Chainalysis link the hack to North Korea's TraderTraitor group.
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