ServiceNow Shares Rise 6% As Q1 Earnings Beat Street View

Lilly: Tirzepatide In SURMOUNT-1 Trial Delivers Superior Weight Loss In Adults

Drugmaker Eli Lilly and Co. (LLY) Thursday said its Tirzepatide (5 mg, 10 mg, 15 mg) achieved superior weight loss in adults with obesity or overweight in SURMOUNT-1 clinical trial.

In topline results from the trial, the company said Tirzepatide delivered up to 22.5% weight loss in adults compared to placebo at 72 weeks of treatment.

The study enrolled 2,539 participants and was the first phase 3 global registration trial evaluating the efficacy and safety of tirzepatide in adults with obesity, or overweight with at least one comorbidity, who do not have diabetes.

Tirzepatide met both co-primary endpoints of superior mean percent change in body weight from baseline and greater percentage of participants achieving body weight reductions of at least 5% compared to placebo for both estimands. The study also achieved all key secondary endpoints at 72 weeks.

3 reasons why Deutsche Bank is forecasting a recession

New York (CNN Business)America’s economic growth slowed sharply in the first quarter of 2022, data from the Bureau of Economic Analysis showed Thursday.

The nation’s gross domestic product — the broadest measure of economic activity — declined at an annualized rate of 1.4% between January and March.
That was a marked slowdown from the 6.9% growth pace recorded in the final quarter of last year, and the worst performance since the pandemic recession in the second quarter of 2020. Economists had predicted an annualized growth rate of 1.1%, according to Refinitiv.

    This is a developing story. It will be updated.

      US economy shrank 1.4% at beginning of 2022, marking worst quarter in 2 years

      Economy ‘probably’ already in a recession: Expert

      Morgan Creek Capital Management Mark Yusko discusses Federal Reserve’s response to inflation.

      The U.S. economy cooled markedly in the first three months of the year, as snarled supply chains, record-high inflation and labor shortages weighed on growth and slowed the pandemic recovery.

      Gross domestic product, the broadest measure of goods and services produced across the economy, shrank by 1.4% on an annualized basis in the three-month period from January through March, the Commerce Department said in its first reading of the data on Thursday. 

      Refinitiv economists expected the report to show the economy had expanded by 1.1%.

      This is a developing story. Please check back for updates.

      European Economics Preview: Germany Gfk Consumer Confidence Due

      Consumer confidence from Germany and France are the major economic reports due on Wednesday.

      At 2.00 am ET, Germany GfK consumer confidence survey results are due. The forward-looking consumer sentiment index is forecast to fall to -16 in May from -15.5 in April.

      In the meantime, producer prices and foreign trade figures are due from Sweden.

      At 2.45 am ET, France’s Insee releases consumer sentiment survey results. Economists expect the index to rise marginally to 92 in April from 91 in March.

      At 4.00 am ET, Austria manufacturing Purchasing Managers’ survey results are due.

      At 6.00 am ET, the Confederation of British Industry is slated to issue Distributive Trades survey results. The retail sales balance is seen at -3 percent in April versus +9 percent in March.

      PNM Resources Inc. Q1 Profit Decreases, but beats estimates

      PNM Resources Inc. (PNM) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

      The company’s bottom line totaled $15.99 million, or $0.19 per share. This compares with $17.58 million, or $0.20 per share, in last year’s first quarter.

      Excluding items, PNM Resources Inc. reported adjusted earnings of $43.31 million or $0.50 per share for the period.

      Analysts on average had expected the company to earn $0.39 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

      The company’s revenue for the quarter rose 21.8% to $444.12 million from $364.71 million last year.

      PNM Resources Inc. earnings at a glance (GAAP) :

      -Earnings (Q1): $15.99 Mln. vs. $17.58 Mln. last year.
      -EPS (Q1): $0.19 vs. $0.20 last year.
      -Analyst Estimates: $0.39
      -Revenue (Q1): $444.12 Mln vs. $364.71 Mln last year.

      -Guidance:
      Full year EPS guidance: $2.50 to $2.60

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      Teladoc Health Falls On Q1 Loss; Q2, FY Outlook

      Teladoc Health, Inc. (TDOC) shares are sliding on Thursday morning trade net loss for the first quarter, wider than the prior year on goodwill impairment.

      The company reported net loss of $6.674 billion or loss of $41.58 per share, compared to net loss of $199.64 million or $1.31 per share in the previous year. The company reported a non-cash goodwill impairment charge of $6.6 billion for the quarter.

      For the second quarter, the company projects net loss of $0.72-$0.60 per share. The second quarter the company projects revenue of $580-$600 million.

      For the full year, the company expects net loss of $43.50-$43.00 on revenue of $2,40-$2.50 billion.

      Currently, shares are at $29.58, down 47.24 percent from the previous close of $55.99 on a volume of 26,685,622. For the 52-week period, the shares have traded in a range of $29.12-$178.68 on average volume of 4,400,803.

      ServiceNow Shares Rise 6% As Q1 Earnings Beat Street View

      Shares of American software company ServiceNow, Inc. (NOW) are climbing 6 percent on Thursday’s trading after the company’s first-quarter earnings beat the Street estimates. Revenues also rose 26 percent from last year.

      The company’s bottom line came in at $75 million, or $0.37 per share. This compares with $82 million, or $0.41 per share, in last year’s first quarter.

      Excluding items, ServiceNow, Inc. reported adjusted earnings of $352 million or $1.73 per share for the period. Analysts on average had expected the company to earn $1.70 per share, according to figures compiled by Thomson Reuters.

      The company’s revenue for the quarter rose 26.5 percent to $1.72 billion from $1.36 billion last year.

      Currently at $495.09, the stock has traded between $448.27 and $707.60 during the past 52 weeks.