Fri, Feb 2, 2024 1:53 PM
Strategy in the works for self-reliance in edible oils
A Flip by Avya Verma
Eli Lilly (LLY) missed Wall Street's revenue expectations in third quarter earnings released Wednesday morning, sending shares down as much as 10% in premarket trading. The drugmaker also slashed its profit guidance and the high end of its revenue outlook for the year. The company reported revenue of $11.4 billion, falling short of Wall Street estimates of $12.17 billion.
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📌US equity futures rose on Wednesday, following a record high close for the Nasdaq, driven by stronger-than-expected earnings from Alphabet and solid gains from tech heavyweights. 📌The S&P 500 rose 0.16% and the Nasdaq scaled a fresh record peak as investors looked to key economic data. 📌Treasury yields, while still expressing concern for a resurgence inflation and higher debt and deficits.
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Bunge exceeded Wall Street expectations for Q3 profit, driven by increased volumes in grain trading and oilseed processing, which offset lower margins. The company reiterated its full-year adjusted profit forecast of $9.25 per share, citing the current margin environment and loss of income from a joint venture sale.
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