Campbell's Edges Higher; Eli Lilly Gains; Marvell Rallies on S&P Addition

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares of The Campbell's Company (CPB) edged higher ahead of the US market open after the canned soup maker reported adjusted earnings per share for the third quarter that beat the average analyst estimate.
- Eli Lilly (LLY) shares gained in the early session following obesity drug presentations at the American Diabetes Association conference. Citi analysts say their conviction on Lilly is firmly intact, given the company’s incretin portfolio is “not built around singular blockbusters.” The weight-loss pill Foundayo and triple-G retatrutide “carry development programs with enough indication breadth to make them category-defining franchises across cardiometabolic and obesity-led complications,” according to Citi analyst Geoff Meacham.
- Shares of Marvell Technology (MRVL) and Flex (FLEX) are rising in premarket trading as the companies are set to replace Pool Corp. and Campbell’s in S&P 500 before the market open on June 22, S&P Dow Jones Indices says in emailed statement. Inclusion in the benchmark is becoming more important for companies in a world increasingly dominated by passive investment funds; on the flip side, expulsion from the benchmark can weigh on stock prices, as passive investors are forced to sell the shares and realign with the S&P 500’s new composition.

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