On this episode of Stock Movers:
- Shares of pharma giants Eli Lilly (LLY) and Novo Nordisk (NOVOB DC) are falling in premarket trading after President Trump said the price of the blockbuster diabetes drug Ozempic could come down to just $150 a month. The US list price of Ozempic is roughly $1,000 for a month’s supply. Trump told reporters on Thursday that the cost of the drug, made by Novo, will soon be “much lower.” Lilly sells similar treatments, including Mounjaro and Zepbound.
- American Express (AXP) shares moved lower ahead of the US open after Amex reported earnings that beat expectations after unveiling the long-anticipated Platinum credit card refresh last month. The company best known for its premium credit cards reported $421 billion in billed business, or transaction volume on credit cards and other products issued by Amex, for the third quarter. Analysts had expected the New York-based company to report billed business totaling $415.2 billion.reported earnings that beat expectations after unveiling the long-anticipated Platinum credit card refresh last month. The company best known for its premium credit cards reported $421 billion in billed business, or transaction volume on credit cards and other products issued by Amex, for the third quarter. Analysts had expected the New York-based company to report billed business totaling $415.2 billion.
- Shares of Ally Financial (ALLY) follow Fifth Third Bank (FITB) and Truist Financial (TFC) higher in the early session as the three regional lenders posted positive earnings despite a broader rout in bank stocks.
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