eli lilly out with the first quarter results.top and bottom lines and it's lowering its forecast for the full year. joining us right now so break down the numbers is david ricks. he's the ceo of eli lilly. david, the stock is under some pressure it was down by about 5%. what happened during the quarter? >> well, it was kind of a complicated corner for us. bottom line is we grew our core business, 7% on the top line expenses grew 3% that yields the big picture. that is all kind of buried underneath a couple factors that i think make q1 of this year challenging to look at one, last year as the pandemic started, particularly in the u.s., particular diabetes patients, we saw people fill up their medicine cabinet as the shutdowns were happening so the compare is difficult because last year's q1 was so good that washed out in q2, q3 so we expect a better q2 compare we had a number of puts and takes with the government on our covid antibody treatments in terms of rearranging and that's difficult on the streets and why we're lowering the

eli lilly is 3% on the challenges of margin and business.ablin joins us now with cresset capital, their chief investment officer. it seems that in a boom economy, away from big technology, there is an industrial struggle for both -- growthiness. why are the corporations going to struggle? jack: we still are trying to rebuild the supply chain and get the product to where it needs to be. some of the issue we are seeing from the industrial companies is just rebuilding. some of it is translating through at least two some -- to some higher price. something like 60% of their constituents are planning to raise prices. many already have. tom: is there a public to accept those higher prices? jack: right now, there is. some of it is fueled by $1600 check. we have a consumer public that has the wherewithal to sustain these higher prices. the most striking inflation number in march was pretty strong. jonathan: where is that consumer price tolerance? do you find it broad-based, within certain sectors, where do you find it? jack: clearly on the investment

gsk, wow any way, the high spirits e extended to the downtrodden eli lilly, where shareholders, including my charitable trust, have suffered immeasurably, the pain, the pain from the vicious panning of the company's alzheimer's drug the rally also ignighted regeneron, which has a terrific treatment for severe covid that helps get people out of the hospital faster. remember, this is what they gave trump. somehow neither the cdc nor the nih has gotten behind regeneron's terrific job i think this is total negligence by the u.s. government the governor of the besieged state of michigan gretchen widmer painted its praises in a speech yesterday, giving the stock new life cdc, nih, will you stop putting the hate on regeneron? medical stocks all rallied hard today. how hard even the beleaguered johnson & johnson managed to go up now the market didn't overlook the fact that we got some blowout retail sales numbers, allowing retailers to roar and because interest rates went down signaling lower infection, the secular growth stocks that we all know and love, twilio, okta, they just soar that's what

had a pac eli lilly, they went to media trying to make it a negative news targeted today me.ot more pats on the back, more small dollar donations for people who understand and appreciated i represent people not big companies and ceos, i putin rest of my -- i put the interest of my voters, and not big woke corporations and ceos instead. the republicans who don't figure that out, they will get left behind, you saw asa hutcheson fall flat on his face. and not follow the lead of the hutchesons and weak republicans. steve: thank you, your memo is fantastic. i hope you can come back. i really believe that is the road map for many years. congressman banks if you. >> thank you. steve: coming up as humanitarian crisis at border gets worse by the day, person is charge is nowhere to be found. where is kamala harris? perhaps charlie kirk and tammy bruce know. they join us next. so you want to make the best burger ever? then make it! that means cooking day and night until... [ ding ] success! that means... best burger ever. intuit quickbooks helps small businesses be more successful with

thank you so much to eli lilly. -- eli lee. don't miss an exclusive interview. he joins us later.o. . vonnie quinn for the first word headlines. >> joe biden will unveil a plan to expand education and childcare for families. it will be paid for by the largest tax hike on wealthy americans in decades. among the provisions, prekindergarten and community college will be free and the child tax credit will be extended. meanwhile, the top tax rates will be raised to 39.6%. republicans are blocking at the price tag. the u.s. says it is delivering supplies to india in the coming days to help with covid relief efforts. the white house says the first shipments will arrive thursday continue into next week. they will carry oxygen, ppe, tests, drugs and vaccine supplies. india has reported more than 18 million cases with more than 200,000 deaths. the u.k. government has secured 16 million doses of the pfizer vaccine as part of a booster program to protect the most vulnerable people against covid-19 before winter. scientists are deciding which groups of people should get the booster shot later

eli lilly has cut its forecast for anymore earnings after the government canceled an order for the company'sirus antibody. the agreement now focuses on lilly's combination treatments. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. ♪ ♪ >> if you decompose the decline in rates, they are all being led by real rates, so i think the market finally heard the fed, that the fed is going to be extremely patient, that they are going to see actual data, not forecasted data. so with the fed controlling the front end, i think that limits how much rates can rise. jonathan: it is almost tedious, isn't it, how much people agree with the federal reserve? good morning. alongside tom keene and lisa abramowicz, i'm jonathan ferro. equity futures up three on the s&p 500. we advance not even 0.1%. yields up a couple of basis points on the 10 year to 1.5827%. euro-dollar totally unchanged, $1.2085. let's get straight up his rick, switzerland -- straight out to zurich, switzerland. ubs

ups is surging on blowout numbers. 3m, eli lilly, t

eli lilly has cut its forecast of earnings per share after the government cancel an order for the company'sus antibodies. it said the agreement now focuses -- global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. ♪ >> the scepter that is telling the most -- the sector that is telling the most interesting story is consumer staples. staples are at their lowest relative point we have seen the last few years. the relative weakness in staples, in utilities suggest bonds probably tanaka lower. tom: christopher verrone, strategas head of global strategy. lisa abramowicz and tom keene cured jon ferro prepares to drive forward the conversation at 9:00. barry ritholtz with us. i want to go over the debate of what capital gains tax is obscuring. you and i have a collective memory and i want to give a shout out the visualizing economics for a memory of the 1960's, when we had multiple brackets and the top bracket was 70%, 80 percent, almost 90%. are we going back to higher br

we're going to lean on these treatments, the anti-bodies from eli lilly.one american said that i got it and i got better right away except for people in the government that said that. >> it's so frustrating. i've encouraged so many high risk patients to go down and hunt down the therapy. talk to your doctors, your hospital. you have to do your own work. it's tragic. they're very effective. they reduce death by 85 and 87% in a recent nature study if you do it early. unfortunately the fda said anyone in the hospital with not get it. that's a very bad indication because we know that people in the critical care unit and the icu. the fda said anybody in the hospital doesn't qualify. so you have to get it before you're hospitalized. >> martha: too bad that you have to fight to get something that they worked so hard to develop. another story. thanks, doctor. good to see you. >> thank you, martha. >> martha: so we're waiting for president biden any moment. we'll have that live as we bring you more of "the story" after this. stick around. we'll be right back. al —

this is eli lilly down from 208 to 177 this morning and they have a lot of one-time covid issues thatf and gave people an opportunity i felt that this was a similar situation because it's really tough to asteric covid, what it really did to your bottom ine. >> we had a great quarter. i mean, revenue was up earnings were up gna was down we had the energy set in the medical roster with a little bit, not a lot with the basis points and explained it. we increased guidance. we are on balance and see we highlighted the tail winds we have to balance in the year. we think that the predetermination will be extended within the year into next year and everything about it we've said positively there is more tail winds than headwinds and it's a fickle market. >> it is medicaid membership growth, suspension of eligibility, these are good the marketplace special enrollment period will be good the hold on medicare frustration, these are all positives, right, michael? >> right everything was on the positive side and we said, i didn't give guidance for '22 we'll do that in june but i said the tail wind

program also shattered matt hepburn's 60-day mark, including biotech company abcellera, working with eli lilly treat to president trump. >> crowe: this is the new normal. it's going to be 60 days from here on out. >> whitaker: well, not quite yet. currently, antibodies are grown in a bio-reactor like this one at this defense department rapid response plant in florida. it'll take three weeks for this to produce 7,500 doses. >> crowe: and so a lot of scientists are trying to figure out, can this be done faster? >> whitaker: dr. crowe has successfully tested a faster way: r.n.a., the genetic tool darpa helped pioneer that was used to make the coronavirus vaccine in record time. in the next outbreak, r.n.a. would allow factories like this to churn out millions of doses a day. >> crowe: we would start from a blood sample from a survivor, and be done with all of this and be giving you an injection of the cure within the 60 days. >> whitaker: with their promise of speed, immediate protection, and a cure, dr. hepburn says r.n.a. antibodies could stop the next wuhan-like outbreak cold. >> hepburn: it's

if you look for the underloved big cap pharma nam, lily has pulled back, deeson day i think eli lilly the best in breed. >> come up the safety warning on peloton that sent shares skidding, the details and how the trader play the fullback and later crypto kryptonite was it a warning shot or more selling ahead? we have that and much mo wn asmoy"etnsrehe wealth is your first big investment. worth is a partner to help share the load. wealth is saving a little extra. worth is knowing it's never too late to start - or too early. ♪ ♪ wealth helps you retire. worth is knowing why. ♪ ♪ principal. for all it's worth. lately, it's been hard to think about the future. but thinking about the future, is human nature. at edward jones, our 19,000 financial advisors create personalized investment strategies to help you get back to your future. edward jones. we started with computers. we didn't stop at computers. we didn't stop at storage or cloud. we kept going. working with our customers to enable the kind of technology that can guide an astronaut back to safety. and help make a hospital come to you,

despite expecting quarterly results and boosting full year gui guidance drugmaker eli lilly falling lowerk to you folks at "squawk on the street." >> okay. tomorrow morning got a lot of big interviews on "squawk on the street" and earnings sti to ll follow here as well. stay with us. you need a financial plan that can help grow and protect your money. an annuity can help cover essential expenses in retirement. have the right financial professional show you how... this is what an annuity can do. that building you're trying to sell, professional show you how... - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. did you know that petco, is now a health and wellness company? i adore their groomers and their vets our physical, social, and mental health cared for in on

ups is surging on blowout numbers. 3m, eli lilly, tesla, all lower. federal reserve with an interest rate decision and news conference coming tomorrow respondents in our latest cnbc fed survey expect the fed to stay on hold for at least the rest of the year a bullish sign for the recovery. consumer confidence soaring in april. highest level we've seen since before the pandemic, easily topping expectations we've got 59 minutes lefti to g. we're seeing the s&p 500 flat. >> coming up on today's show, chart expert tom mcclellan, using history as a guide to where he thinks the market is heading. plus what he thinks is the best time to buy and sell apple in and around results after the bell, buckle up for a wild ride of earnings. results from apple, microsoft, visa, starbucks, and monday dell mondelez so many earnings coming out, and big ones we're tracking the market action and we have the key details of the president's coronavirus update mike santelli, we'll start with you. >> market really just pausing to take in the view from all time highs. buyers and

programing note for you on may 11 join cdc director rochelle walensky, plus leaders from pfizer, eli lillyto learn more and register new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at indeed.com/home. >>> look ahead to tomorrow including the march cpi date a key read of course on inflation. analysts expecting the annual rate to grow 2.5%. and mike, 20 seconds sore left inflation tomorrow earnings dominate the rest of the week? >> yeah, they will i don't remember a big anticipated number where economists where everybody including the white house saying hey, don't pay attention to the details because it's because of base effects we'll see if the market they cans that to heart >> we know year-over-year is going to be a big theme. that does it for us. "fast money" begins right now. >>> i'm melissa lee and this is "fast money. trader lineup, guy adami, tim seymour, dan nathan and k

earnings coming up after the bell tomorrow, don't miss an all new edition of "squawk box" with ceo of eli lillyxshares.com for a prospectus containing this information. read it carefully. the aflac post-pain show! for a prospectus containing this information. aflac! what a day of upsets. ha ha. jill is certainly upset with that unexpected bill from her back surgery. aflac! let's see that one more time. ♪ ♪ (bleep) (wincing) oooh, right in the wallet! ouch! aflac! aflac would have paid jill cash directly to help with expenses health insurance doesn't cover. hold on, i think she's trying to give us a side-eye... because she can't turn her head! (laugh) get help with expenses health insurance doesn't cover. get to know us at aflac.com it's hard to hope, hard to cope with crisis. so we get to work. we mend, fighting for every person in every neighborhood; we, the coming of the common good. so dare to care, to be hope-sided. we're never divided, when we live to give, we always live united. i really hope that this vaccine can get me one step closer to him. to a huge wedding. to give high fives to our