Today is Monday, May 12, 2025.

The Early Bird Index today is 74.51

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Eli Lilly Beats Novo Nordisk

In the first head-to-head study featuring the obesity drugs Eli Lilly’s $LLY ( ▼ 2.25% ) Zepbound and Novo Nordisk’s $NVO ( ▲ 1.42% ) Wegovy, Eli Lilly came out on top.

Details: On Sunday, Eli Lilly released results showing that patients taking Zepbound achieved an average weight loss of 20.2% compared to 13.7% with Wegovy. In fact, 64.6% of those who took Zepbound experienced at least 15.0% weight loss compared to 40.1% on Wegovy.

Background: Both blockbuster drugs have made headlines in recent years for helping patients achieve weight loss.

Stock Price: In the past year, Eli Lilly has been down about 5%. Novo Nordisk is down about 50%.

Early Bird’s Nest Egg Gains: The trial results are a game-changer for Eli Lilly, giving Zepbound a clear clinical and commercial advantage in the fiercely competitive obesity drug market. This is a pivotal moment for Lilly to expand market share, secure insurance coverage, and potentially make Zepbound the best-selling drug in history.

Final Thoughts: We’ll see today how the trial results impact both stocks.

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Notables

Notable Earnings Today: Plug Power (Nasdaq: PLUG), Monday.com (Nasdaq: MNDY), Chegg (NYSE: CHGG), Hertz Global (Nasdaq: HTZ), Sportradar Group (Nasdaq: SRAD), Dole (NYSE: DOLE), AST SpaceMobile (Nasdaq: ASTS), Fox Corp (Nasdaq: FOXA), Simon Properties (NYSE: SPG), ZoomInfo (Nasdaq: ZI), Sally Beauty (NYSE: SBH), Blink Charging (Nasdaq: BLNK), Topgolf Callaway Brands (NYSE: MODG), NRG Energy (NYSE: NRG), Seadrill Ltd (NYSE: SDRL), Acadia Healthcare (Nasdaq: ACHC), Archer Aviation (NYSE: ACHR), Brinks (NYSE: BCO), Cannae Holdings (NYSE: CNNE), Centuri Holdings (NYSE: CTRI), DaVita (NYSE: DVA), Essential Utilities (NYSE: WTRG), Fortrea (Nasdaq: FTRE), Getty Images (NYSE: GETY), GigaCloud Technology (Nasdaq: GCT), HighPeak Energy (Nasdaq: HPK), Hudbay Minerals (NYSE: HBM), indie Semiconductor (Nasdaq: INDI), Integral Ad Science (Nasdaq: IAS), Macerich (NYSE: MAC), MeridianLink (NYSE: MLNK), New Fortress Energy (Nasdaq: NFE), Organigram Global (Nasdaq: OGI), PennantPark Investment (NYSE: PNNT), Power Integrations (Nasdaq: POWI), Ramaco Resources (Nasdaq: METC), Rapid7 (Nasdaq: RPD), Repay Holdings (Nasdaq: RPAY), Rigetti Computing (Nasdaq: RGTI), Rockwell Medical (Nasdaq: RMTI), StandardAero (NYSE: SARA), Southwest Gas (NYSE: SWX), Surgery Partners (Nasdaq: SGRY), United Parks & Resorts (NYSE: PRKS), Vital Energy (NYSE: VTLE), Xenon Pharmaceuticals (Nasdaq: XENE).

Notable IPOs Today: Tortoise Capital Series Trust (NYSE: TPYP).

Notable Equity Crowdfunding Campaigns Ending Today: Island Seafood ATL (Honeycomb).

Notable Economic Events Today: WASDE Report (12:00 p.m. ET), Federal Budget Balance (2:00 p.m. ET).

Microsoft's OpenAI Partnership

The relationship between Microsoft $MSFT ( ▲ 0.13% ) and OpenAI, the AI research organization behind ChatGPT, might be changing.

Details: The Financial Times reported on Sunday that OpenAI wants to revise the terms of its partnership and contract with Microsoft.

• According to the report, OpenAI may want to restructure its organization away from a non-profit to have an IPO eventually.

Background: Microsoft first invested in OpenAI in 2019.

Final Thoughts: Shares of Microsoft are up about 4.81% this year.

Dogecoin Slips After Big Run

The price of the cryptocurrency Dogecoin $DOGE.X ( ▲ 6.83% ) fell about 1% on Sunday, ending a recent price jump.

Final Thoughts: In the past week, Dogecoin is up nearly 40%.

Trends to Watch

No Specifics: White House announces U.S.-China trade deal, offers few details (CNBC)

No-Fly Zone: Flights Could Be Disrupted Across U.S., Transportation Secretary Warns (New York Times)

Dark Trend: ‘Dark stablecoins’ could emerge as regulations tighten (Cointelegraph)

Plot Twist: Tariffs Are Crashing TV’s Annual ‘Upfront’ Ad-Sales Party (Wall Street Journal)

Negotiations: Activist Dalton Seeks Talks With Fuji Media to Avoid Proxy Fight (Bloomberg)

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_{The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.}