Stocks Hold Steady as Investors Weigh Trump’s Move to Remove Federal Reserve Governor Lisa Cook

Eli Lilly Rises on Weight-Loss Pill Trial Results

14 minutes ago

Eli Lilly (LLY) shares rose Tuesday morning as results from a new study moved the drugmaker closer to applying for approval of its experimental weight-loss pill.

Lilly reported a Phase 3 trial of its oral GLP-1 treatment, orforglipron, met primary and key secondary goals in reducing weight for adults who were obese or overweight and had Type 2 diabetes. 

The company noted those taking the highest dose (36 milligrams) for 72 weeks and without food and water restrictions dropped their weight by an average of 10.5%, or 22.9 pounds, compared to 2.2%, or 5.1 pounds, for those on a placebo. Along with losing weight, the orforglipron patients had an average decline in their A1C glucose level of 1.8%. 

The pill uses the same GLP-1 hormone therapy as injectable weight-loss medicines, including Lilly’s Zepbound and Novo Nordisk’s (NVO) Wegovy. However, the size of orforglipron’s weight reduction was lower than the other two. 

Lilly said it now has “the full clinical data package required to initiate global regulatory submissions for orforglipron.” However, a stumbling block may be the high number of adverse effects reported, including nausea (36.4% at the highest dosage), vomiting (23.1%), diarrhea (27.4%), constipation (22.4%), and dyspepsia (10.9%). In addition, a similar number of those taking the pill and the placebo dropped out of the study. 

Eli Lilly shares were up 4% recently, pacing S&P 500 advancers. Despite today’s advance, shares of Eli Lilly are down about 6% in 2025.

–Bill McColl

EchoStar Stock Soars as Company Sells Spectrum to AT&T

1 hr 27 min ago

Shares of EchoStar (SATS) skyrocketed Tuesday after the satellite TV provider, under pressure from federal regulators, sold 50 megahertz of its nationwide low- and mid-band spectrum allocations to AT&T (T) for approximately $23 billion.

The operator of DISH TV, Boost Mobile wireless service, and other properties said the deal includes its 3.45-gigahertz and 600-megahertz spectrum licenses, which it explained gives AT&T the ability to rapidly deploy “the purchased spectrum to U.S. consumers across the country, as AT&T has the option to lease the spectrum, pending the closing of the spectrum sale. This arrangement benefits both AT&T and Boost Mobile subscribers.”

In addition to the sale, EchoStar and AT&T have amended their previous network services agreement, creating a hybrid mobile operator relationship.

EchoStar shares were up 75% recently, trading at an all-time high.

AT&T CEO John Stankey said the acquisition “bolsters and expands our spectrum portfolio while enhancing customers’ 5G wireless and home internet experience in even more markets.”

EchoStar noted that the agreement is part of its “ongoing efforts to resolve the Federal Communications Commission’s (FCC) inquiries.” In May, the FCC launched an investigation into whether the company was meeting certain requirements for both its wireless and satellite rights. President Donald Trump reportedly intervened, calling on EchoStar Chairman Charlie Ergen and FCC head Brendan Carr to strike a deal. 

The transaction is expected to close by the middle of next year.

Shares of AT&T were up 0.5% in early trading and have gained about 27% since the start of 2025.

–Bill McColl

Major Index Futures Down Slightly

2 hr 52 min ago

Futures tied to the major U.S. stock indexes were each down 0.2% in recent trading.

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