Microsoft’s heavy spending is scaring the market, but the real story may be that customers want more cloud and AI capacity than the company can deliver. The bigger question isn’t whether the spending is reckless—it’s what happens if demand cools or regulators step in.Read more

Eli Lilly’s weight-loss and diabetes medicines keep driving rapid growth, and a new treatment in late-stage testing could make that lead even bigger. The catch is that tougher competition and tighter drug pricing could squeeze profits, so the next round of trial and approval news matters.Read more