Eli Lilly inks new AI deal, Tyson tops Q4 earnings estimates

Market Catalysts host Julie Hyman tracks several of the day's top trending stock tickers, including Plug Power (PLUG) suspending its loan-guarantee initiative amid liquidity challenges, Eli Lilly's (LLY) new AI deal with Insilico Medicine, and Tyson Foods (TSN) topping fourth quarter adjusted earnings estimates.

To watch more expert insights and analysis on the latest market action, check out more Market Catalysts.

Video Transcript

00:00 Speaker A

for watching Plug Power, Eli Lily and Tyson.

00:04 Speaker A

First up is Plug Power, the developer of hydrogen energy systems, suspended its efforts to complete a $1.6 billion loan guarantee from the US Energy Department.

00:13 Speaker A

That might sound bad, but investors had been bidding up the stock. Now it's down again. It's been all over the place.

00:20 Speaker A

But plug said it is pursuing other measures that will generate $275 million in liquidity improvements. Those will come, it says, through a combination of asset monetization, release of restricted restricted cash and reduced maintenance expenses.

00:32 Speaker A

The company's also signed a non-binding letter of intent to monetize electricity rights in New York and another location, and it'll collaborate with a data center developer, but this loan had been a real outstanding question for the company.

00:46 Speaker A

Next up is Eli Lily. It is inking a $100 million plus deal with in silico medicine in hopes of using AI to discover new drugs. Shares touched a record high amid that announcement.

00:58 Speaker A

The company will combine in silico's pharma.ai platform with its own expertise to try to jointly identify and advance novel therapies.

01:07 Speaker A

And then there's Tyson, those shares are rising after the company topped fourth quarter adjusted earnings per share estimates.

01:15 Speaker A

It does expect results for next year though to be little changed as its beef segment continues to lose money.

01:20 Speaker A

Higher demand for chicken, which is Tyson's second largest source of revenue, helped offset beef losses. The company also forecast total sales growth of 2 to 4% next year.

01:31 Speaker A

That would imply revenue of about $56 billion, which would be above what analysts are anticipating.

01:36 Speaker A

As always, you can scan the QR code below to track the best and worst performing stocks with Yahoo Finance's trending tickers page.

View Comments