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Eli Lilly: Why Earnings Guidance Takes a Back Seat

Eli Lilly shares rose Tuesday afternoon despite financial projections below Wall Street estimates.

Lilly on Tuesday said it expects full-year revenue between $20.2 billion and $20.7 billion and earnings per share between $2.92 and $3.02. These numbers fell short of Wall Street expectations, partly because of a gloomy foreign-exchange forecast as well as expected generic competition outside the U.S. for cancer drug...