Eli Lilly missed on total sales in the first quarter, but its GLP-1 drugs helped boost sales by 26% over those in Q1 2023.
Guidance lifts are among the most positive announcements shareholders can hear, injecting confidence in the long-term picture.
U.S. stocks ended lower on Tuesday as markets weighed economic data showing rising labor costs and deteriorating consumer confidence on the day of a key Federal Reserve policy meeting to decide the direction of interest rates. Data showed on Tuesday that U.S. labor costs rose by a more-than-expected 1.2% last quarter, indicating an uptick in wage pressures.