Why Eli Lilly shares should be higher
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
TL;DR
- November's consumer price index report showed inflation at 2.7%, below the estimated 3.1%, leading to a higher stock market.
- Micron's stock surged 11% after an earnings beat, revitalizing the AI trade.
- OpenAI is reportedly in talks to raise new funding at a valuation of around $750 billion.
- Eli Lilly announced positive topline results from a Phase 3 study for its oral GLP-1 drug, Orforglipron, for weight maintenance.
- Eli Lilly submitted Orforglipron to the FDA for obesity treatment.
- Nike shares increased ahead of its quarterly earnings report, with analysts expecting a solid quarter but cautious guidance.
- Investors will focus on Nike's inventory clean-up and wholesale channel sales, as well as updates on China's recovery.
- Other stocks mentioned in a rapid-fire segment included Darden Restaurants, Lululemon, Sherwin-Williams, Shake Shack, and Merck.