Pharmaceutical company Eli Lilly & Co. (NYSE: LLY) is planning to cut 5,500 jobs over the next few years and reorganize into five business units. The company is looking to reduce costs and accelerate how long it takes new drugs to get to market, especially as its top performers see their patents expire. This translates to a workforce reduction of close to 14% – to 35,000. This measure doesn't include new positions in emerging markets with high potential and Japan.

The company hopes to cut as much as possible through attrition and retirements – and it would not indicate how many other positions would have to be cut.

Eli Lilly's goal is to slash its annual cost by $1 billion during this restructuring. The new business units will be: cancer, diabetes, established markets, emerging markets and Elanco, which is its animal health business. This is a change from the existing functional model, which separates U.S. and global marketing for each drug in the company's portfolio. Through the new structure, Lilly says, drug development and marketing will be tied more closely.

"Our latest pick combines two highly profitable asset classes, small caps and emerging markets," says Nicholas Vardy. In The Global Bull Market Alert, he an emerging markets ETF.

"The SPDR S&P Emerging Markets Small Cap ETF (NYSE: EWX) offers you access to small caps in emerging markets that otherwise would be off limits.

"While some of the larger emerging market stocks trade in the United States, these smaller players never will.

"In addition, it's well known that U.S. small caps tend to outperform large caps over the long run. Their small size makes them nimble and quicker to react to changing market conditions.

Under the radar: Some trends are obvious enough and visible to all investors. Others are more-subtle, but are just as potent, and these often slip under the radar. Case in point: the International Monetary Fund's most recent analysis of the global economy is a classic 'good news/bad news' development.

"When most people think of Africa, images of business and commerce don't usually spring to mind -- more like wildlife, safaris and famine," suggests Nathan Slaughter.

In The ETF Authority, he explains, "But those perceptions are beginning to change as these countries continue to industrialize. And at the vanguard of this transformation is South Africa." Here, he looks at the iShares MSCI South Africa ETF (NYSE: EZA).

Slaughter explains, "Once a backwater country shunned by most of the international community, South Africa has made great strides over the past decade and continues to evolve. Fifteen years ago the government began an aggressive overhaul of South Africa's economy.

Readers of this space know that the investment bias is toward large-cap companies with demonstrated business models and who have a competitive advantage in established markets, preferably with a favorable, global trend as a support. And with the aforementioned in mind, Kimberly-Clark Corporation (NYSE: KMB) is worth a review.

In general, analysts expect a sales decline of 4-6% for KMB in FY2009, including a negative foreign currency effect. Kimberly is being hurt by both the recession -- which has prompted widespread belt-tightening by consumers -- and by increased competition. The First Call FY2009/FY2010 EPS estimates for KMB are $4.16 to $4.64.

Just look at these numbers. The World Bank expects private capital flows to developing countries to fall almost three quarters to $363 billion dollars from $1,200 billion in 2007. It logically follows that if developing countries do have the capital they need, they cannot stimulate their own economies.

Some countries like Russia and China can draw on their foreign exchange reserves. Countries which do not have reserves will have to rely on private capital. The world Bank estimates that developing countries will be short up to $635 billion dollars.

Monsanto Company (NYSE: MON) is another one of those demonstrated business companies that was treated rudely by Wall Street in 2008. Pushed to highs over $130 during the commodities mania of 2008, the Street then proceeded to take shares to the mid-$60s. Rational? Hardly.

Hopefully, rationality will re-assert itself in the years ahead. In general, analysts see 6-9% revenue growth for FY2009, led by stable corn and soybean seeds sales.

Despite a 46% gain since adding iShares MSCI Brazil (NYSE: EWZ) to his portfolio, global expert Keith Fitz-Gerald still sees upside potential. Here's the latest from Money Map Reporter.

"History tells us that the best gains come to those who have the courage to buy undervalued companies in the face of extreme pessimism – and that sounds a lot like right now. So while we may not be at the very bottom, we are nonetheless pretty darn close.

Readers of this space know that the investment bias is toward large-cap companies with demonstrated business models and who have a competitive advantage in established markets, preferably with a favorable, global trend as a support. And with the aforementioned in mind, The Hershey Company (NYSE: HSY) is worth a review.

In general, analysts see only modest revenue growth for HSY for FY 2009. However, an improved supply chain should reduce costs, and also free-up more capital for strategic growth initiatives at home and abroad.

US Steel is another one of those infamous, history-making stocks that investors aren't likely to forget any time soon.

Amid the robust growth and euphoria of emerging market economies, United States Steel Corporation (NYSE: X) soared first past $100, then $150, then above $196 per share in the summer of 2008, only to come crashing down when the leveraging bubble burst and many momentum traders exited the market.

"We have been recommending iShares MSCI Brazil (ASE: EWZ) in our speculative portfolio," says mutual fund and ETF expert Mark Salzinger.

In The Investor's ETF Report, he adds, "But we now think Brazil's solid long-term economic fundamentals and the ETF's 'scompelling valuation and well-positioned companies offer exceptional return potential as a portion of some investors'core portfolios, too."

"Brazil's stock market was assailed on all sides in 2008, when EWZ declined by about 55%. Robust gains in the previous five years had priced Brazil's stocks dearly, and investors'decreased tolerance for any perceived risk saw them abandon emerging markets stocks in droves.

While most companies are taking steps to conserve cash, the CEO of MasterCard Incorporated (NYSE: MA) is pondering an overseas spending spree.

In a recent Reuters interview, President and Chief Executive Robert Selander expressed his willingness to ramp up MasterCard's investment in emerging markets, including high-profile countries such as Brazil and China.

"We are making investments in some of the emerging markets where we continue to see growth. We will probably increase some of those investments as the relative growth rate in those markets is better than some of our more mature and struggling economies," Selander told the news service.

Late in Tuesday's session, the World Bank cut its growth forecast for China to 6.5% from 7.5%. The bank cited dropping exports as a reason for the lowered forecast, but it did note that it is confident in China's ability to expand its economy in the current environment. The bank's quarterly report say that the drop in trade is going to negatively impact China's investment and job creation. Nevertheless, China should grow faster than other countries thanks to its stimulus package coupled with its strong banks, which have escaped the financial crisis unscathed.

A week ago, China's Premier Wen Jiabao announced that the country should meet its official 8% growth target (which some believe must be met for the country to create enough jobs for its influx of new workers) although exports fell 25.7% in February. Economists expect China's growth to come in between 5% and 8%, which is sharply lower than 2007's 13% expansion, but better than any other major country.

The world's emerging markets are falling with amazing speed. This has caught everyone off guard. Let's look at some statistics that show the severity of this plunge:

• Taiwan's exports plunged 44% from the same month last year.
• Brazil's industrial production plunged 12.4% in December from the previous month.
• The Russian ruble and the Hungarian forint have dropped about 14% against the dollar.
• The South Korean currency, the won, has shed 8% of its value against the dollar and South Korea's industrial output dropped to its lowest level on record.
• The Mexican peso is at an all time low against the dollar.
• South Korea's exports fell more that 30% in January.