Eli Lilly & Co. Jumps To Session High (LLY, HWAY, SPPI, TCK)

Eli Lilly & Co.(NYSE:LLY) posted solid second quarter earnings that topped analysts’ target and as result the company lifted its 2012 profit outlook, due to the favorable impact of a stronger dollar. The company said that it earned $924 million, or 83 cents per share, down from a year ago profit of $1.2 billion, or $1.07 per share. Excluding special items, the company earned 83 cents per share, topping analysts’ estimates by 6 cents. Global sales of $5.6 billion were in line with Wall Street expectations of $5.59 billion. Lilly said it now expects full-year 2012 earnings of $3.30 to $3.40 per share, excluding special items. It had previously forecast earnings of $3.15 to $3.30 per share. Shares of LLY are up 3.76% to $43.56.

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Healthways, Inc.(NASDAQ:HWAY) shares rose 20% to $10.14 after the company posted better than estimated second quarter earnings on an earlier-than-expected recognition of performance-based fees. The company recorded net income of $5.1 million, or 15 cents a share on revenue of $170.2 million, compared to a year ago profit of $5.8 million, or 17 cents a share on revenue of $169.6 million, ahead of analysts target of 7 cents a share. Moreover, following earnings, analyst at Carroll raised price target on the stock by 30% to $13.

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Spectrum Pharmaceuticals, Inc.(NASDAQ:SPPI) shares popped up 6.60% after the company posted another blowout monthly sales for its colon cancer drug Fusilev. As per Wolters Kluwer sales in June came in at $49.7 million. Fusilev sales totaled $24.8 million in May and $22.3 million in April, according to Wolters Kluwer.

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Teck Resources Limited(NYSE:TCK) shares slumped 5% as the company reported lower second quarter net profit due to lower coal and metal prices. The company earned C$268 million ($262.84 million), or 46 Canadian cents per share, from C$756 million, or C$1.28 per share, in the year-earlier period. Revenue fell to C$2.56 billion from C$2.80 billion, as coal, copper, zinc and other metal prices fell below year-ago levels. Analysts on average had expected a profit of 64 Canadian cents per share on revenue of C$2.47 billion.