Eli Lilly Revenue Beats, Facebook to Launch new Camera App

Eli Lilly (LLY) - Get Report  earnings came in short by 2 cents but revenue was slightly higher than estimates. BP (BP) - Get Report  saw a huge drop in profits. Low oil prices took their toll and sent profits down 80% at the oil giant, which was actually better than expected. BP CEO Bob Dudley says he expects oil prices to 'balance' by the end of this year. Facebook (FB) - Get Report  is developing a standalone camera app meant to encourage it's 1.6 billion users to create, and share, more photos and videos. The Wall Street Journal says the unnamed app will launch like a camera-like Snapchat-and will integrate with Instagram and other Facebook owned apps. It will also allow users to share live streamed video back to Facebook. Durable Goods orders for February are reported. The S & P Case Shiller Home Price Index is released. The FOMC begins a 2-day meeting today where no change in interest rates is expected.