Watch AppLovin (APP) shares today. APP stock gained nearly 12% to close at $437.34, after posting strong quarterly results.
The advertising platform posted a 77.2% Y/Y increase in revenue, to $1.26 billion. It earned $2.28 a share. Q3 guidance pleased investors. Revenue will be $1.32 - $1.34 billion, while adjusted EBITDA margin will reach 81%. Advertising commerce advertisers plan to spend more in the current quarter.
Fortinet (FTNT) is in trouble. The supplier of firewall hardware raised its billings outlook to $7.475 billion for Q3. However, this is below the market’s expectations. In the second quarter, it posted a 14% Y/Y rise in revenue, to $1.63 billion. Valuations are too high for the slowing growth rates.
Eli Lilly (LLY), known for its blockbuster obesity drug, posted strong earnings and revenue (up by 37.7% Y/Y to $15.56 billion. The strong full-year guidance of $60 billion to $62 billion is also encouraging.
Markets worried about Eli’s clinical data on its oral weight loss drug. Orforglipron, a once-daily GLP-1 receptor agonist, caused weight loss of 12.4% over 72% weeks at the highest dose. This met the goal in its Phase 3 study. Novo Nordisk’s (NVO) product offered up to a 13% weight loss in 12 weeks.
Markets sent LLY stock down by 14.14% on Thursday. Shares are attractive at these levels, while NVO stock is an even better bargain.
