Eli Lilly Jumps, Comcast Gains, Meta Falls

On this episode of Stock Movers:
- Eli Lilly (LLY) raised its full-year guidance as revenue from its weight loss and diabetes drugs beat expectations in the third quarter. The company's diabetes drug Mounjaro and obesity treatment Zepbound outpaced expectations by a combined nearly $1.3 billion, with the vast majority of the beat coming from the diabetes drug. Lilly now expects full-year sales of $63 billion to $63.5 billion and adjusted earnings per share of $23 to $23.70, after sales in the third quarter were $17.6 billion, exceeding the average Wall Street estimate.
- Comcast (CMCSA) lost 104,000 net broadband subscribers in the third quarter, fewer than the loss of 140,000 predicted by analysts. The company reported a net loss of 257,000 video subscribers, beating expectations for 321,000 customer departures. Third-quarter revenue fell 2.7% to $31.2 billion, beating estimates of $30.7 billion.
- Meta Platforms (META) aims to sell at least $25 billion of investment-grade bonds on Thursday, according to people familiar with the matter. The company is looking to issue notes in as many as six parts, ranging from five to 40 years in length, with proceeds set to go toward general corporate purposes. Meta is infusing artificial intelligence services into its key products and needs to invest billions of dollars in data centers and other key infrastructure to fuel those offerings.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.

Speaker 2 (00:08):
The Stock Movers Report, your roundup of companies making moves
in the stock market, harnessing the power of Bloomberg Data.

Speaker 3 (00:16):
Scarla Flul Paul Sweeney live here on a Bloomberg in
Act Proper Studio streaming line on YouTube as well. Let's
see what some stocks on the move today in a mixtape.
It's good that they need to Sokova Bloomberg News.

Speaker 4 (00:27):
They need to.

Speaker 3 (00:27):
What are you looking at.

Speaker 1 (00:28):
Let's start with some gainer as we have Eli Lilly today.
Now it's about two percent, but we so much bigger
gain in earlier trading. Once the market opened, it jumped
as much as three point four percent. Of course, it
is coming of pretty strong for year guidance. They raised
it and both for their weight loss drug and diabetes drug.
What we're seeing is that they're taking bigger and bigger

(00:50):
market share of that weight loss and diabetes market that
everyone has been competing about. Now they account for fifty
eight percent of that market. And this is the weight
loss one, which obviously they compete directly with novels Ozenpi
and wi Goovy, deabetes drug Munjaro, and their zip Bound

(01:11):
which is the weight loss one. They outpass expectations by
a combine nearly one point three billion, so really strong
results there. That said, the stock is actually up only
five percent before the earnings, and obviously a little bit more,
but we're seeing some optimism from investors. Mitzuhui is saying,
it's very clear that Eli Lily is.

Speaker 4 (01:32):
Winning the weight loss race.

Speaker 1 (01:34):
Obviously, now we're talking about different, more advanced drugs, so
that potentially we're entering a whole new leg in the competition.
But in this particular race, Eli Lily's lead is becoming clear.

Speaker 3 (01:46):
The question I asked in the surveillance chat box, and
I don't know the answer. I haven't seen the reporting
on it. If there's for someone out there who would
benefit from the weight loss struggle, why aren't they taking it?

Speaker 4 (01:56):
Maybe because it's a shot?

Speaker 3 (01:57):
Okay, I was going to ask, is it because they
don't want to take shots?

Speaker 2 (02:00):
Is it cost?

Speaker 3 (02:01):
Is availability?

Speaker 4 (02:03):
Is it side effects?

Speaker 3 (02:04):
Because you just wonder why more people aren't using it.
I don't know the answer to that, but I guess
it's probably the combination of all that.

Speaker 4 (02:11):
Yeah, But I'm guessing the simplest answer is the right answer,
which is cost.

Speaker 1 (02:14):
Yeah, yeah, yeah, very good.

Speaker 3 (02:15):
All right.

Speaker 2 (02:16):
Us, you have Force, you.

Speaker 1 (02:17):
Have Comcasts, which we're seeing an interesting reaction in markets
if you actually pre market training, we saw a positive reaction.

Speaker 4 (02:26):
The earnings report is mixed.

Speaker 1 (02:27):
Obviously, the company lost one hundred thousand subscribers, which is less.

Speaker 4 (02:31):
Than what analysts were expected.

Speaker 1 (02:33):
But if we zoom out, the trajectory has been really bad.
This is the tenth quarter in a row where they
see domestic world round customer losses.

Speaker 4 (02:43):
That said, as we said, unless.

Speaker 1 (02:45):
We're expecting one hundred and forty thousand, so we're seeing
some optimism there. A third quarter revenue fail by about
three percent, and it's also beating estimates, so again less feared,
but competition in that space has been heating up. Obviously,
people are moving away cutting their court in favor for
streaming services. Obviously people are their Internet platons over by Verizon,

(03:09):
but timobau and that strong competition there. Comcast is one
of the big losers this year. Company is down nearly
thirty percent here to date. There have been a lot
of changes, a lot of volatility there, and even earning
support that was less bad than feared cannot bring optimism
at least on a day like today.

Speaker 4 (03:30):
All right, let's get to a mag seven name. Meta.

Speaker 1 (03:33):
Yeah, Meta has been the story of the last twenty
four hours. Now, it's down nearly twelve percent a fell
fourteen percent in earlier trading. Of course, it's coming off
concerns of AI spending. The Facebook parents report the third
quarter earnings results gave outlook, but the main thing everyone
is looking at is Mark Zuckerberg warned that meta platforms

(03:54):
will need to spend even more aggressively. We had some
news today on Bloomberg that they aim to sell at
twenty five billion of investment grade bonds and this might
be their biggest largest in twenty twenty five, so clearly
things are moving fast.

Speaker 4 (04:09):
That said, the earnings report, their revenue was strong.

Speaker 1 (04:11):
Their ads revenue, which is kind of the kind of
their main source of income, is strong. But we saw
a lot of downgrades coming.

Speaker 4 (04:20):
At least two. One is Oppenheimer.

Speaker 1 (04:23):
Saying that investors will strugger to rationalize those prices at.

Speaker 4 (04:28):
Least until twenty twenty seven.

Speaker 1 (04:31):
And also we saw analysts on the code saying that
they're obviously concerned about this, so a lot of pressure on.

Speaker 4 (04:38):
The store Google.

Speaker 3 (04:39):
They don't mind the spending if your meta a little
bit concerned about it.

Speaker 2 (04:42):
The Stock Mover's report from Bloomberg Radio. Check back with
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