Key Takeaways
- Eli Lilly (LLY) launched a Medicare GLP-1 Bridge program, offering Zepbound and Foundayo for $50 per month to eligible Part D patients starting July 1, 2026.
- McCormick (MKC) reported Q2 adjusted EPS of $0.80, significantly beating the $0.69 analyst estimate, while reaffirming its full-year 2026 outlook.
- Oman’s Foreign Minister confirmed that future arrangements for the Strait of Hormuz will not include transit tolls, a move aimed at stabilizing global energy markets.
- SpaceX (SPCX) shares rose 2.4% as the company continues to navigate volatility following its record-breaking $86 billion IPO earlier this month.
- Venezuela is grappling with a rising death toll, currently at 164, following a catastrophic 7.5 magnitude earthquake that struck the country on Wednesday.
Eli Lilly Expands Access to Obesity Medications
Eli Lilly (LLY) announced the launch of the Medicare GLP-1 Bridge program, a major initiative designed to provide affordable access to obesity treatments. Starting July 1, 2026, eligible Medicare Part D patients can access Zepbound (tirzepatide) and the newly approved oral medication Foundayo (orforglipron) for a flat fee of $50 per month.
The company estimates that approximately 20 million Medicare patients may qualify for coverage under this program, which is scheduled to run through December 31, 2027. This bridge program aims to fill the coverage gap until more permanent legislative solutions for weight-management medications are implemented.
McCormick Delivers Strong Q2 Performance
Flavor giant McCormick (MKC) posted robust second-quarter results, with net sales reaching $1.94 billion, surpassing the $1.91 billion expected by Wall Street. The company’s adjusted EPS of $0.80 represented a 16% increase over the prior year, driven by productivity gains and the successful integration of McCormick de Mexico.
Despite a slight dip in organic volume growth of -0.5%, management reaffirmed its fiscal year 2026 guidance. The company continues to project adjusted EPS between $3.05 and $3.13, as it moves forward with its proposed combination with Unilever Foods.
Geopolitical and Global Trade Developments
In the Middle East, Oman’s Foreign Minister Sayyid Badr Albusaidi clarified that future maritime arrangements in the Strait of Hormuz will not entail transit tolls. This statement follows recent regional tensions and discussions regarding potential fees for the strategic waterway, which handles nearly 20% of global oil trade.
Meanwhile, in New Delhi, India’s Trade Minister Piyush Goyal reported "substantial progress" in trade talks with the U.S. The negotiations are centered around an interim deal that would see the U.S. apply a 18% reciprocal tariff on Indian goods, a reduction from the previous 25% rate, aimed at maintaining India's comparative advantage in manufacturing.
SpaceX Market Volatility and Humanitarian Crisis in Venezuela
SpaceX (SPCX) shares extended their recent gains, rising 2.4% to trade near $156. The stock has been highly volatile since its June 12 IPO, which valued the company at $2.2 trillion. Investors are currently monitoring a new $20 billion capital raise and the upcoming expiration of certain insider lock-up periods.
In South America, the humanitarian situation in Venezuela remains dire. The death toll from Wednesday's 7.2 and 7.5 magnitude earthquakes has risen to 164, with over 1,000 injuries reported. Acting President Delcy Rodríguez has declared a state of emergency as rescue teams continue to search the rubble in the hardest-hit regions of La Guaira and Caracas.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.