Quote:
Originally Posted by 370Zsteve
You want a tip? Buy Eli Lilly asap, hold it for ten years, you'll be rich. Look at the cash flow, look at the P/E.
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I should stay away, but how can I resist? Do your due diligence, research and invest in companies that will make you real money rather than listening to fast-buck types that chase squiggly lines around a chart all day.
We now leave this thread to the line-chasers, as they cannot handle constructive criticism. Mebbe I start a thread about how to "invest" and not "speculate". Y'all are welcome to join it and flame the living crap out of me.
Lilly swings to profit, raises forecast
BOSTON (MarketWatch) -- Eli Lilly & Co. said Wednesday it swung to a third-quarter profit after solid sales in the 2009 quarter as well as year-earlier litigation charges related to its drug Zyprexa.
Lilly (
LLY) posted net income of $941.8 million, or 86 cents a share. In the year-ago period it lost $465.6 million, or 43 cents a share.
Last year's quarter featured a charge of $1.48 billion associated with litigation over its psychiatric drug Zyprexa.
This year's quarter contained a charge of $425 million related to the sale of its Tippecanoe, Ind., facility to chemical-maker Evonik Laboratories AG.
Excluding various items, Lilly (
LLY) would have reported adjusted earnings of $1.20 a share versus the year-earlier 98 cents.
Revenue for the quarter rose 7% to $5.56 billion.
Lilly's results topped Wall Street estimates. A poll of analysts by FactSet Research pegged Lilly at posting earnings of $1.02 a share, on revenue of $5.41 billion.
Lilly's positive report prompted the company to raise its financial forecast for the year. The company said that it now expects full-year adjusted earnings of $4.30 to $4.40 a share, compared to its previous forecast of $4.20 to $4.30 a share. Reported earnings per share should come in between $3.90 and $4.00.
Analysts were expecting a profit of $4.29 a share, according to FactSet.
Sales of the company's best-selling product, the psychiatric drug Zyprexa, were $1.22 billion, up 3%. Sales of the antidepressant Cymbalta, its second best-seller, rose 10% to $790 million.
The company's diabetes product Humalog saw sales climb 16% to $500 million, while sales of the oncology product Alimta took in sales of $462 million, up 47%.