i say that even though we o own eli lilly for the charitable trust. hasn't given many buying opportunities. lily was up 32% with the s&p 500 down 20% what makes me so confident first, let me give you context alzheimer's is big pharma's white whale. a terrible disease that's wide spread so a lot of money -- if you could treat it but nobody ever seems to pull it off. at least until recently. back in 2021 the fda approved the alzheimer's drug first new treatment since 2003 that was highly controversial because the efficacy date, let's call it iffy didn't help it was priced at $56,000 a year the whole thing was shocking it triggered a congressional investigation. sure enough, the alzheimer's drug fizzled and had to cut the price aggressively and then the regulator in charge of medicare and medicaid issued a narrow coverage ruling. they'll only pay for patients in clinical trials that's a tiny number of people the alzheimer's drug was a disappointment, the whole side made it clear the fda is willing to approve less than ideal treatments for the horrible di

eli lilly and merck. biotech names did not.formed, the market holds a more speculative market. not all of them generate free cash. you know it is a bad year for biotech when you have this many companies changing their names. a company called citrix is now latter x. adagio is now called invid. i'm thinking of changing my last name to why? gsk is now gsk. speaking of slowing down, the biggest growth story of the year had to be the obesity drug, the diabetes drug accused -- approved for obesity now. eli lilly is expected to get a similar drug approved in 2023 and amgen announced promising clinical results. jack otter: do you expect a rebound in the biotech sector? jack hough: investors say there's going to be a rebound, time to be selective. when do you say don't be selective? throw money at the sector willy-nilly. i would say don't be selective. put money in the etf if you are going to do it. jack otter: all eyes are on tech for 10 years, the only place to be as long as you had tech in your portfolio. now not so much, 2,022 was t

this is joining the companies cutting jobs la lastly, eli lilly. fda is rejecting the alzheimer's drug it is telling lilly it needs to review the patient information this could delay the drug by at least several months if the agency eventually decides to approve. shares down 2.3% pre-market. >>> still on deck, mark mobius is joining us. we have all that when "worldwide exchange" returns after this break. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones >>> welcome back benchmark u.s. averages faced growing pressure after the solid start to the year and one area has not. emerging markets and ishares index up 19% in the past three months breaking above the 200-day moving average or longer term trend line one bull case this year is china in the reopening play after three years of its zero covid lockdown the policy. citi is out with a note this morning saying china reo

regular viewers know eli lilly could report a good quarter with strong guidance. don't forget, they're really expanding their manufacturing in north carolina i think it's because of their diabetes drug and i like the oil service stocks but seem to be alone in feeling that way. halliburton delivered numbers with positive commentary so let's consider an icing on the cake bull market that might fall we saw a fantastic, fantastic, fantastic chevron buy back announced this very night. oh, how about the entertainment stocks, disney, warner brothers, smoking. what matters is you can spot the bull markets with ease as long as you don't get distracted with enterprise software which is the most bearish part of the market or anything that touches on that digital world. let me give you the bottom line. time to reck nognize tech is no longer the only game in town in fact, much of tech is no longer in the town at all. time to find a better game i want to go to michelle in new hampshire, michelle? >> caller: hey, jim. i just joined the investing club thanks so much. >> oh, thank

stuart: what about eli lilly?or a drug to cure alzheimer's, the fda has accelerated approval for eli lilly's alzheimer's drug. they want to be very careful. we have seen how other expensive alzheimer's drugs have fared. >> they are working on alzheimer's but pushed through vaccines for covid with no data at all and we are coming to an alzheimer's drug that has great promise. stuart: i want them to find -- >> 1000%. stuart: in a new book, mike pompeo claims that nikki haley plotted with jared kushner and yvonne cut trump to be donald trump's running made in 2020. richardson in washington joins us. what is nikki haley saying about this? >> reporter: it is beginning to look like presidential campaign season, accusations, denials, republicans seeming ready to jump in the race. mike pompeo is releasing is that book, accuses nikki haley of scheming with donald trump's daughter and son-in-law to boot mike pence off the ticket and b the 2020 running mate. trump's senior counselor, kelly and conway said was true. haley den

thank you somuch. >>> thank you. >> all right, eli lilly is one of the weakest performers in the s&pplication for early approval of its new alzheimer's drug they say the regulator wants to see more trial data. meg tirrell joins us. >> this sounds bad, but it's less bad than the headline might imply. essentially, lilly had applied for approval based on its trial, showing clearance of these amyloid plaques. it wants to see data on at least 100 patients taking the drug up to 12 months in this study patients could stop, and enough did that that they didn't reach 100 patients taking the drug for a full year. that is the only thing the fda said the reason they were not approving it now the other thing to consider here is of course lily has a larger phase three three expected to read out results in the second quarter. after that they're going to file for full approval. and right now based on accelerated approval, these drugs don't have broad medicare coverage it really wasn't going to make a huge difference if it got out there now. that's why you're not seeing the stock down more today. the

>> eli lilly. i think they do a really good job, gss, on the uk side.s a good understanding what their exposures are and liquidity, managing it. that will be the threat going into 2024. liz: if an investor is watching they will not be disappointed? they will not get the currency headwind, by the way second quarter, remember everybody was doing currency headwinds, that is a real problem second and third quarter. who would you avoid with too much currency exposure. >> somebody has not been managing it as well surprisingly is apple. i don't think they have done a great job. nike is okay but not really good. not getting on top of that with 99% hedge ratios. they're not doing it. liz: apple and nike, looking from a currency exposure, strong dollar exposure might not be the best -- >> stay away from that. liz: wolfgang, great to see you. >> always a pleasure. liz: just a second ago the dow turned positive first day of 2020. at least it is showing some moxie here, right? right now we look to close down about eight points. i'm not going to call the dow because

the civil suit names the nation's three largest insulin makers eli lilly , novo, nordisk and sanofi, as well as three pharmacy benefit managers, including cvs caremark . the parties are accused of leveraging their market power to unlawfully overcharge patients. attorney general ram ponta said one in four diabetics cannot afford insulin and commonly ration their supply or they're forced to stop taking the medication altogether, which can lead to dire consequences. big pharmaceutical companies have artificially inflated the price of insulin such that a vial of insulin may cost $300 or more when it only costs just a few dollars to make it the increase in prices not based on cost. it's not based on research and development. it is artificially being increased. ktvu reached out to the parties named in this lawsuit among those who responded, pharmaceutical company eli lilly said in part, quote lily is disappointed by the california attorney general's false accusations. the lawsuit ignores that anyone is eligible to purchase their monthly subscription of lily insulin for $35 or less. cvs car

i'm not eli lilly, cramer co, that was just not enough people. i was surprised it got this far.-- david, i love him no, you have to put more people in the folder. because it reduced plaque so quickly the fda would go for it. the fda -- not everybody is in it. >> now you're talking about the alzheimer's. >> the alzheimer's drug i didn't think they were rigorous enough. they deserve to be rejected. you have to have more than a year and more than 60 people come on. it costs like $60,000 per person when you do a trial, a real good trial. you've got to get 100 people and you have to have them on for a while. that's why it was rejected it's in itfor majarable. we've seen what wygovie has done it's approved for weight loss. not a lot of side effects and it's used mostly to -- in conjunction with people who take drugs that add weight. >> while we're at it, regeneron gets an upgrade at jpmorgan and dupixent. >> yeah, they're in a quandary they're out of jpmorgan. the stock got completely hammered and len, the ceo, reminded me, look, you're missing the whole point. people are missing that

not just diet and exercise novo has a product behind that and eli lilly should get on the market with their obesity drug later this year. i think that is really just at the beginning here of obesity being a very, very large pharmaceutical market. >> emily, just to go one step forward with wogovy, what are the catalysts to watch and whether it reaches that 11 billion in sales level you just described? >> so there is a very important trial update that we are expected from novo nordisk in this trial, novo will accept whether treatment prevents cardio impacts the trial is expected to ho hopefully show 17% benefit on the cardio conditions. we think that success in that trial is the key to unlocking other markets outside of the u.s. for which you really do need to see a bit more data beyond the weight loss to get government payers to buy in. >> emily, i want to ask about another recent breakthrough in alzheimer's space. on friday, the fda approved a drug which has proven to show that it can reduce cognitive decline. how big of a breakthrough is this and what does it offer to the companies i

shares of eli lilly. the fda rejecting the alzheimer's drug it would need to submit data on patients exposed to the drug for 12 months. the setback could delay the commercial introduction of the drug by several months if the agency decides to approve it biogen could benefit some analysts say it means it will have a full year to market its drug as eli lilly awaits approval. >>> alphabet will eliminate 12,000 positions the ceo telling workers in the email the cuts are global. this comes the day after microsoft stated it will cut jobs as well meta and amazon and this news about alphabet >> and why wouldn't you cut? you have cover you have macro cover you have industry cover. you have every reason to say it is time to get lean. >>> speaking of layoffs. wayfair reporting to layoff 1,000 workers. that is 5% of the work force according to the wall street journal. this is the second round of layoffs for the company. >>> fed officials getting everything out of their system before the central bank begins its pre-me

. >> eli lilly without question, they've been lower left and upper right, for a while now, yes in therend now but the uptrend has been here for decades. >> mike, thank you. more options action got to tune into the show, tomorrow, 5:30 pm eastern time. and up next. final thoughts. (swords clashing) -had enough? -no... arthritis. here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones >>> a last look at shares of intel, lowe's, they rose by 9% percent, and dismal guidance saying it will not guide for the rest the year because of uncertainty. this is the quote, referring to the last one, thought it was the worst quarter ever on record but this is worse. the bottom, rebuilding from here, that's what the ceo said, july 29, last year. what you think? >> listen, stori

eli lilly spending to expand its operation. its fda drug will probably be used for weight loss.s are too high. but maybe it stops before the feds can crush inflation, simply we don't have enough people in the country, and they can't create them. that is a fortunate and unfortunate thing. anyone in america will be able to find a job, and that's fantastic. those jobs will have better pay and better wage conditions. the working conditions are terrific. the downside is everything gets more expensive. those with no job offer will never be able to keep pace. i like to say this, always a bull market summer. here on mad money, i'm jim cramer. see you tomorrow. can i counter? ohh! just listen to what you're doing right now. i'm so frustrated listening to this. you're a walking billboard of inspiration. you have done nothing to prove to us that you can execute. but guess what, kevin? that can be us. when i ask you that question, i'm expecting a clear answer. you might be my next husband. i don't have to make a deal here today. i'll just marry you. [ laughing ] ♪♪ kev. fantastic. pump. pum

eli lilly had a good year comparatively.rt are doing very well but nat gas is collapsing, near a 52 week low. pretty warm over in europe, but some of the smaller the nat gas companies like permian, range resources, even apa one of the big giants in the exploration production field down about 7% today. finally just want to note tesla here, i don't think that we've ever seen destruction of wealth like this, this was the $600 billion market cap roughly 620 or something like that beginning of december and now $330 billion we're talking about $300 billion in wealth lost in one month. i don't think that anything has ever come close to that one. >> and as we were just talking, the company purchasing reasonably well. missing estimates by a bit, but nothing -- still very profitable bob pisani, thanks >> that is enough to sell off the 13%. that tells you something >> really does >>> let's move to the bond market rick santelli is tracking the action for us from chicago and i'll begin with a question what did you learn from the bond mar

switch to eli lilly that compiles by joining along with the cnbc investing club.per but you got a good one in that. let's go to jamie in florida, jamie? >> caller: boo-yah, jim. appreciate you taking my call, boss. >> thank you, thank you. what's up? >> caller: question is for ticker symbol be bloom energy. >> 2022 was the apex of these companies that are involved with hydrogen, with fuel cells, they're not working, they're too expensive. i want you to avoid bloom energy andy in new york. >> caller: hi, jim, happy new year. >> same to you, andy, what's happening? >> caller: i would like your opinion on or -- >> this thing has had a way too big of a move. i cannot get behind it it's too speculative for this. that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by td ameritrade coming up, does one cautionary tale spell the end of the spac era? cramer cries good rid driddance next ♪♪ for skin as alive as you are... don't settle for silver. harness the power of 7 moisturizers & 3 vitamins to smooth, heal,

we'll hear multiple good stories from these companies, especially johnson & johnson on monday and eli lilly tuesday. both of which we own for the charitable trust we'll be talking about them in the home stretch 2:30 p.m. program if you want to know what they've been saying. you know these are two of my favorite companies and you should own them. we also hear from one of my favorite smaller fi er financiaa company called jed jefferies the large banks reporting at the end of the week they got hit with downgrades, jeffries say all systems go, buy the big financials ahead of their earnings now, tuesday, brings us albertsons and this is a case of both inflation, how much have prices really gone up at the supermarket and what's the word on their attempted merger with kroger over the weekend, i wrote an essay called market power and inequality it was in the harvard law review this is one of the most anti merger thinking i've read. i spent a lot of times studying this stuff at harvard law. the most emphatic moment is when he talks about and i quote spectacular failures of anti trust with the poster

moment what you would be doing in april of 2015, 2016, i would have said, oh, i will be retiring from eli lilly and company. that has been the longest stretch of my work. i was involved at the top of that company and enjoying it and completely absorbed in it. and my life changed completely three times since then. i tell the students, sure, have a plan, but life will bring you. given your talents and your purdue degree, life will bring you opportunities you did not think about. some of them might be the right ones. so how is that for ducking your question? beth: perfect. we will look forward to following your work wherever you go next, but i think at this point i can turn to the audience . we have a lot of folks eager to ask you questions. ok. see if we can bring a microphone in here. >> my name is donald and i am a retired corporate lawyer, and i hear a lot about threat to democracies around the world and perhaps in this country, so i am wondering about how your students learn about our democracy. you answered my question by saying that you introduced a civics course for freshmen recently. gov.

consumer business to determine whether the bank has safeguards in place as it ramped up lending eli lillyrma drug a lot are down 4%, 5%, 6%. lilly is down 6% look at smucker's, conagra consumer names are having a hard time smucker's is down 7% for this year people want growth look at the s&p 100. down for the week but up about 3% it's the growth stuff. semiconductors are up 11% in the last three weeks most big cap tech stocks with the single exception of microsoft also traded for the upside communication services stronger. consumer discretionary what this looks like, 2021 to me all the consumer, defensive names not doing much, and the growth stocks are rallying in the first three weeks. back to you. >> bob, thank you very much. have a great weekend. >>> now we go to the bond market a big jump in yields today take a look at the ten-year note, close to 3.5%. we did get some hawkish comments from fed governor waller in the last hour. that's certainly contributing there. yield on the note, 3.482%. oil closing for the day. pippa stevens with the numbers. >> up more than 1% wrapping up the fift

the day starts off with eli lilly to give insight how it's expecting big demand for the diabetes drug once the fda approves it for weight loss. their drug could be the greatest selling drug of all time, which is why it's a big position for our investment club. when honeywell reports in the morning, i expect a clean story about aerospace and slightly difficult story about software and climate control. we own it for the charitable trust but honeywell can do with a huge balance sheet put up good numbers and make changes. after the close is when big tech tries to kill me there is apple we can concede they won't be able to meet estimates because of weakness in china so the call will be about the future apple's future may not be big enough after this remarkable recent run this stock is going from 125 at the beginning of the month to 145 now. own it, don't trade it but i'm sure "fast money" will start -- they will short the stock ahead of the quarter they will try to make a few bucks. let them go make a few bucks i like the stock then there is amazon can't recommend it here because the compa

which will be known as kenvue leaving it with the best fastest growing pharma business outside of eli lillyat blockbuster treatment. change that's given you medical device equipment that's been stalled because hospitals have been worried about covid that's -- it's deferred a lot of business but you can only defer these procedures for so long one of the best makers of heart devices. for $17 billion and i see a smart accusation because he's got a huge business that's let's just say unassailable. how about the consumer businesses being spun out. what can i say listerine, band-aid, tylenol they buy too much of management's time hence the need for the spinoff but once it's an independent company, it will be poised to take on the industry by acquiring competitors we have this ftc commission, the ftc is really tough on deals probably blocked most things they don't see more consolation. doesn't matter i think this group has been starved. we'll have money and focus and therefore for space because they will do a better job and j&j is great capital and part of my charitable trust and we're sticking wi

so if 3 insulin makers named in this lawsuit include eli lilly, novo nordisk and sanofi. and then additionally, 3 other companies to manage insulin. prescription drug programs are also named in include cvs caremark express scripts and optum rx. now a 2021 study found the cost of insulin in the u.s. is 10 times higher than everywhere else. attorney general bonta says that that medication is overpriced. big pharmaceutical companies have artificially inflated the price of insulin, such that a file of insulin may cost $300 or more. >> when it only cost just a few dollars to make it the increase in prices not based on cost. it's not based on research and development. it is artificially being increased. >> attorneys general in kansas, arkansas, mississippi, minnesota and kentucky have all filed similar lawsuits. >> in recent years, time now is 9.5 starting next week. microsoft workers can take as much time off as they want the verge reports under the company's new discretionary time off policy. u.s. based salaried employees will no longer have a fixed number of vacation days pe

for example, the day that wyatt earp was being pushed out of town in wichita for being a vagrant, eli lilly was opening in offer to some pharmaceutical company in indianapolis. and at almost the same hour that custer in the seventh cavalry were being killed, 40% of the seventh calvary were being killed at the little bighorn. alexander graham bell was at the centennial exposition and introducing his telephone. and i should add that one of the people in the audience for alexander graham bell was don pedro, who was the emperor of brazil at the time, and in fact, was much more popular than the american president at the time, who was u.s. grant. one thing i try to do in this book is explore the difference between liars and legends. this book is filled with liars, with the possible exception of the author. it's also filled with legends again, with the possible exception of the author. i think there's a big difference between the two. alive is is basically an untruth. it's the anti truth. but a legend is is sort of an amalgam. it's it's based on facts. it has lies sprinkled into our gross exaggera

rishaad: eli lilly, we thank you for your insights. get you first word news with vonnie quinn. >> good morning. we went to start this evening with first word news, thousand voting to return at least until later thursday after republican leader kevin mccarthy foiled -- failed for the six time in his bid to become house speaker. party dissidents have been voting against mccarthy, and moderates failed to reach a deal. mccarthy says will progress was made, another vote would not have made a difference. the presidents of china and the philippines agreed to resume talks on oil and expiration in the south china sea after marcus junior met with president xi jinping and beijing. they agreed to expand ties in and farming. the visit comes after years of tensions between the nations over disputed territory. the world health organization says two known omicron subvariants are driving infections in china and is repeating calls for more transparency from chinese officials as well as real-time viral sequencing. a lack of data is a key factor cited by

reached out to the parties named in the lawsuit among those who responded, pharmaceutical company eli lilly said, in part quote lily is disappointed by the california attorney general's false accusations. the lawsuit ignores that anyone is eligible to purchase their monthly prescription of lily insulin for $35 or less cvs, caremark said. quote allegations that we play any role in determining the prices charged by manufacturers are false. we plan to vigorously defend against this complaint. warm and dry on the couch. andre, that's the best thing in the house tomorrow for the big playoff game between the san francisco 40 niners and the seattle seahawks with the players are likely face on the field from mother nature. we will preview that big game next. (steven) every time i come to see caremore, they go above and beyond to take care of me. i feel a lot better now. i'm taking medication for what i should have been taking years ago. (vo) caremore health provides advanced primary care wherever you need it, in the hospital, at home, in our clinics, or virtually. (steven) so when i call them over

for example, the day that wyatt earp was being pushed out of town in wichita for being a vagrant, eli lilly was opening in offer to some pharmaceutical company in indianapolis. and at almost the same hour that custer in the seventh cavalry were being killed, 40% of the seventh calvary were being killed at the little bighorn. alexander graham bell was at the centennial exposition and introducing his telephone. and i should add that one of the people in the audience for alexander graham bell was don pedro, who was the emperor of brazil at the time, and in fact, was much more popular than the american president at the time, who was u.s. grant. one thing i try to do in this book is explore the difference between liars and legends. this book is filled with liars, with the possible exception of the author. it's also filled with legends again, with the possible exception of the author. i think there's a big difference between the two. alive is is basically an untruth. it's the anti truth. but a legend is is sort of an amalgam. it's it's based on facts. it has lies sprinkled into our gross exaggera

themes we're looking at is cquality at discount a few names we're looking at, we own currently, eli lilly space, one of the higher growth pharma names out there. medium-sized company chasing two massive opportunities. alzheimer's and obesity. really good company. lot of base business growth. by the way, trading at ligslight discounts. you mentioned union pacific. again, thinking a little more of the cycle. this is a little early we're not even in a recession yet. things haven't quite slowed down, but you can buy, you know, high-quality company bears entry, good market share trading at a discount. again, once investors start to look over the horizon, names like this, transports, companies that have a lot of -- sort of control their destiny, they'll continue to grow last one, a little bit of an in between a cyclical but kind of a safe way to play that is linde one of the highest quality materials companies out there that diversified across customers, across geographies, that sort of thing as the fed chairman continues to put this chokehold on the economy, things are slowing down, companies

it is down to them getting approval, actually the fda declining to give approval to eli lilly's alzheimervantage as they are rival. ok, asian-pacific index, msci, up .3%, firm bowl market terrain, gaining 24% since october. bloomberg daybreak middle east is next. ♪ >>

and bought eli lilly up 25 and now they're saying, yeah, sure you talk about a tech know lodge cam problemjust ended up with one of the biggest losses i ever h be careful when you use market orders. >> it was may of 2010 when we got -- much larger problem in that case, initially attributed to trader error when you taukt lked about proctor >> the asset class was challenged why is retail so smaller investor every year seems to be less interested. the answer is what just happened >> yeah. >> although again, i'm not sure anybody got hurt here. the stocks were halted immediately. so -- >> yeah. but how do you trust them? it's like bitcoin. >> i did miss something on the verizon call >> yeah. >> it was up 2 >> he must have been saying, i have to stop beating myself up he misses the quarter badly, union pacific is saying i'm way too critical of myself they're testifying with their psychiatrist >> almost everything we looked at is back to -- is actually trading and what we would have expected >> verizon is a little better. >> a little bit. it opened down 1.3%. >> in the meantime, we're awaiting ob

out to the parties named in the lawsuit and among those who responded the pharmaceutical company eli lilly, they said, in part, quote lily is disappointed by the california attorney general's false accusations. the lawsuit ignores that anyone is eligible to purchase their monthly prescription of lily insulin for $35 or less, and cvs , caremark said. quote allegations if we play any role in determining the prices charged by manufacturers are false. we plan to vigorously defend against this complaint. up next investigating president biden's handling of those classified documents of special counsel has just been named. we'll explain why one of biden supporters think there is more to this story and remembering the life of lisa marie presley up next, the emotional message from her mother about lisa's death. (vo) if you overdraw your account, wells fargo gives you an extra day grace period to avoid the overdraft fee. what if everything came with a grace period? like accidentally parking where you shouldn't... (driver 1) hey what about this one? (driver 2) nah... that one gets an extra day. (driv