Are Eli Lilly's Lowered Expectations a Reason to Sell?

Accounting for an acquisition Eli Lilly completed in August made a big impact on earnings expectations for 2024. Eli Lilly (LLY -6.28%) stock tanked after the company reported third-quarter results on Wednesday, Oct. 30. The report it issued before the opening bell was more than a little problematic. In addition to top-line figures that missed Wall Street expectations, management lowered its earnings outlook. If there's one thing the stock market hates, it's unpredictability. Eli Lilly shares were down by m ...