Eli Lilly Increases FY24 Outlook, Joins Brinker International, Zebra Technologies, 3M And Other Big Stocks Moving Higher On Tuesday

Author: Avi Kapoor | April 30, 2024 10:53am

U.S. stocks were lower, with the Dow Jones index falling over 100 points on Tuesday.

Shares of Eli Lilly and Company (NYSE:LLY) rose sharply during Tuesday's session after the company raised its FY24 revenue guidance.

Eli Lilly reported first-quarter revenue of $8.77 billion, up 26% year over year, marginally missing the consensus of $8.92 billion, driven by increases of 16% in volume and 10% due to higher realized prices. Eli Lilly posted an adjusted EPS of $2.58, beating the consensus of $2.46, higher than $1.62 a year ago, according to data from Benzinga Pro.

Eli Lilly forecasts fiscal year 2024 sales of $42.4 billion -$43.6 billion versus prior guidance of $40.4 billion-$41.6 billion and consensus of $41.36 billion.

Eli Lilly shares surged 6.6% to $785.51 on Tuesday.

Here are some other big stocks recording gains in today's session.

• GeneDx Holdings Corp. (NASDAQ:WGS) shares jumped 40.8% to $15.49 after the company reported better-than-expected first-quarter financial results and raised its FY2024 sales guidance.
• Blend Labs, Inc. (NYSE:BLND) shares surged 25.8% to $2.83 after the company announced a strategic partnership with Haveli Investments, including a $150 million investment.
• LendingTree, Inc. (NASDAQ:TREE) rose 24.2% to $46.39 after the company beat first-quarter estimates and issued strong guidance.
• Harmonic Inc. (NASDAQ:HLIT) climbed 19.2% to $11.19 following a first-quarter revenue beat.
• ATI Inc. (NYSE:ATI) rose 15.5% to $59.94 following upbeat quarterly results.
• Clearwater Paper Corporation (NYSE:CLW) rose 15.2% to $46.88 following better-than-expected earnings.
• LSB Industries, Inc. (NYSE:LXU) climbed 13.4% to $9.32 following strong quarterly earnings.
• E2open Parent Holdings, Inc. (NYSE:ETWO) gained 12.5% to $4.7950 following upbeat results.
• Sensata Technologies Holding plc (NYSE:ST) shares gained 12.1% to $40.04 as the company reported stronger-than-expected results for its first quarter on Monday. The company said Jeff Cote will retire as CEO and President. Sensata said it sees second-quarter adjusted earnings of 89 cents to 95 cents per share on revenue of $1.025 billion to $1.055 billion.
• Tenet Healthcare Corporation (NYSE:THC) gained 9.2% to $108.28 after the company reported better-than-expected first quarter earnings and issued strong guidance.
• Woodward, Inc. (NASDAQ:WWD) surged 8.4% to $163.77 after the company reported better-than-expected second-quarter financial results.
• Trane Technologies plc (NYSE:TT) gained 8.2% to $325.43  after the company reported a first-quarter earnings beat and raised its FY24 guidance.
• Brinker International, Inc. (NYSE:EAT) climbed 7.5% to $53.38 after the company reported strong third-quarter financial results and raised FY24 guidance.
• The Timken Company (NYSE:TKR) rose 7.2% to $92.96 following upbeat earnings.
• Corning Incorporated (NYSE:GLW) climbed 7% to $33.99 following better-than-expected quarterly earnings.
• Commvault Systems, Inc. (NASDAQ:CVLT) climbed 6.4% to $105.87 following strong earnings.
• Zebra Technologies Corporation (NASDAQ:ZBRA) gained 6% to $318.05 after the company reported better-than-expected first-quarter results, and updated FY24 guidance.
• ACI Worldwide, Inc. (NASDAQ:ACIW) gained 5.7% to $34.99 after the company reported better-than-expected first-quarter results.
• 3M Company (NYSE:MMM) shares rose 5.5% to $97.25 following a first-quarter earnings beat.
• Amkor Technology, Inc. (NASDAQ:AMKR) gained 5.1% to $33.07 after the company reported better-than-expected quarterly financial results.
• NXP Semiconductors N.V. (NASDAQ:NXPI) rose 4.5% to $258.20 after the company reported better-than-expected quarterly financial results and issued guidance.

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