Stock Movers Kohl's Rises, Eli Lilly Drops, Microsoft Surge on Strong Cloud Growth
May 1, 2025
Kohl's shares surge after the abrupt firing of its CEO due to questionable business dealings. Meanwhile, Eli Lilly's stock takes a hit as CVS drops its popular weight-loss drug, putting the spotlight on rival Wegovy. In contrast, Microsoft witnesses a significant boost in shares following impressive quarterly growth in cloud services, showing strong demand despite economic challenges. The contrasting fortunes of these companies reveal the dynamic nature of the market.
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Kohl's CEO Scandal Impact
- Kohl's CEO was forced out for directing multimillion-dollar deals with an undisclosed personal connection.
- This shakeup lifted Kohl's stock by about 7%, showing investor relief despite ongoing uncertainty.
CVS Abandons Eli Lilly Drug
- CVS will drop Eli Lilly's weight-loss drug Zepbound in favor of Novo Nordisk's Wegovy.
- This decision caused Eli Lilly's shares to drop 8%, while Novo Nordisk's shares rose slightly.
Microsoft Cloud Growth Boost
- Microsoft's cloud business exceeded expectations amid ongoing demand despite economic challenges.
- CFO Amy Hood forecast Azure growth of up to 35%, boosting Microsoft shares about 2%.