This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Health Winners & Losers: Eli Lilly

Stocks in this article: lly

Health stocks were down - as were the broader markets - amid the kickoff of third-quarter results.

The NASDAQ and Amex biotechnology indices were down 1.1% and 1.7%, respectively. Big biotech Amgen (AMGN) and Biogen (BIIB) were down 2.7% and 0.9%.

Pharmaceutical stocks fared better than their biotech cousins -- the Amex pharma index was up just 0.8%,

One component of the pharma index, Eli Lilly (LLY) said Tuesday that it has commenced the tender offer for all outstanding shares of ImClone (IMCL) at $70 a share. The $6.5 billion deal was announced last week.

ImClone shares rose 82 cents, or 1.2%, at $67.82, while Lilly's shares fell 88 cents, or 2.4%, to $34.98 on Tuesday.

One of the first health stocks to release earnings, Johnson & Johnson (JNJ)reported income of $3.31 billion, or $1.17 a share, on revenue of $15.9 billion. Results topped expectations of analysts surveyed by Thomson Reuters who'd pegged $1.11 a share on $15.69 billion. Shares were up $1.48, or 2.4%, at $64.14.

Elsewhere - in a few analyst actions -- Needham upped its rating for medical technology company and device maker Stryker (SYK) to buy from hold with a $66 price target. That stock was trading up $1.33, or 2.3%, at $59.86.

Also, Cantor Fitzgerald significantly upped its price target for Sequenom (SQNM), which is developing a non-invasive prenatal test for Down syndrome to $42 from $29. Shares added 34 cents, or 1.8%, to $19.76.

Look for earnings from Abbott Laboratories (ABT)and St. Jude Medical (STJ) before the market open on Wednesday. Analysts, on average, are expecting 77 cents a share on revenue of $7.35 billion for the third quarter from Abbott and 57 cents a share on $1.07 billion in revenue from St. Jude.

After the close on Wednesday, look for third quarter results from Amylin (AMLN). The Street expects Amylin to report a loss of 50 cents a share on $229 million in revenue.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs