CNBC's "Fast Money"
Big Tech Reports… And Eli Lilly’s Letdown 10/30/24
Oct 30, 2024
Gene Munster, Managing Partner at Deepwater Asset Management, dissects Meta and Microsoft’s strong earnings, highlighting AI’s role in Azure’s growth. Loretta Mester, former President of the Cleveland Fed, discusses the Federal Reserve’s strategies amid rising Treasury yields. Meanwhile, Jared Holes of Mizuho analyzes Eli Lilly's disappointing Q3 results, questioning whether the euphoria over weight loss drugs is waning. Together, they explore the shifting landscape of tech performance and its broader economic implications.
43:47
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Quick takeaways
- Meta and Microsoft's earnings reports highlight the significant role of AI in driving future growth amidst challenges in user expectations and expenses.
- Eli Lilly's stock decline following missed estimates emphasizes cautious market sentiment and the need for improved prescription rates for weight loss drugs.
Deep dives
Earnings Insights from Major Companies
The podcast delves into significant earnings reports from major companies like Meta and Microsoft, highlighting their financial performance and projections. Meta reported strong revenue growth of 19% but faced challenges, including missed user growth expectations and increased capital expenditures for AI investments. Despite a slight drop in after-hours trading, analysts argue that Meta's advancements in AI will drive future growth. Microsoft also posted earnings beats and experienced notable Azure growth, attributed significantly to contributions from AI, showing a promising trajectory for the company's cloud services.
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