4 May Watchlist 👀

 

Today we are watching…

1. Ferrari NV (#race)

The folks buying the most famous and expensive cars on Earth don’t usually pause their purchasing when financial markets crash. It’s a different world for them, and that’s led shares in Ferrari to be somewhat recession-proof. The headwind heading into today’s earnings release could be the closure of its factories, however. Italy has been struck hard by coronavirus, and the firm has a backlog of delayed orders that it can’t collect revenue for. Fortunately, Ferrari has a solid balance sheet. Can it beat $0.90 per share profit expectations $852 million revenue expectations today?

2. Lilly (#lilly)

Justin Trudeau has given Eli Lilly funding from the Canadian government to accelerate research into Covid-19 antibodies. Eli Lilly is a pharmaceutical giant in partnership with a Canadian biotechnology firm called AbCellera. The two companies have found more than 500 unusual antibodies in recovered Covid-19 patients and will use the money to expand their efforts to find a vaccine for the virus. Trudeau says it’s too early to draw conclusions about how the virus got out, he needs to fund Eli Lilly first! 

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