Jim Cramer looks at what to do with Eli Lilly, AMD shares after their big slides on earnings

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Wednesday's key moments. 1. Stocks were higher Wednesday as big tech drove gains and bond yields remained tame. Earnings were keeping investors on their toes with more than half of all S & P 500 companies having reported third-quarter results already.

Shares of giant Eli Lilly were sinking more than 10% when the Morning Meeting was being recorded following Wednesday's before-the-bell sales and earnings misses for the third quarter and guidance cut. Jim is inclined to see the drop as a buying opportunity. The Club is restricted from buying Lilly because Jim mentioned on it TV. Lilly shares later trimmed those losses. GE Healthcare , meanwhile, also reported Wednesday morning.

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