Stock Movers

On this episode of Stock Movers:
- Lumentum Holdings (LITE) stock is trading higher on Thursday. The California-based technology firm is experiencing upward momentum alongside other companies in the fiber optic connectivity sector.
- PepsiCo (PEP) shares are down 2% ahead of the bell after the company reported weaker-than-expected performance in domestic food and beverage categories for the second quarter. Management blamed “consumer budgets tightening due to rising inflationary pressures,” said and constant currency core EPS growth would be primarily weighted toward the fourth quarter, which some analysts say clouds visibility.
- Meta Platforms (META) needs all the computing power it can get, according to Chief Executive Officer Mark Zuckerberg, but he is also considering renting out some of Meta's AI infrastructure to outsiders. Meta is developing plans for a cloud business, which could include selling access to various AI models hosted on Meta's existing AI infrastructure. Its stock is up over 5.52 % on Thursday.
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On this episode of Stock Movers:
- Micron (MU) shares rise. Micron Technology Inc. plans to increase its spending on new plants in the US to $250 billion to help meet demand for its memory chips. The company's spending is expected to carry through 2035 and help support its goal of producing 40% of its DRAM components in the US.
- Paramount (PSKY) Skydance shares slide as much as 9%, the biggest intraday decline since December 5. Arete Research downgraded the media company to sell from neutral and reduced its price target to a Street low, highlighting the amount of debt the company would be saddled with should the Warner Bros. Discovery merger go through.
- PepsiCo (PEP) shares fall. PepsiCo Inc. said consumers pulled back in the second quarter as gas prices rose, slowing its efforts to revitalize its North American snack business. The company saw a decline in revenue in its North American food business and flat volume after cutting prices by as much as 15% in some brands.
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On this episode of Stock Movers:
-Micron (MU) shares rise. Micron Technology Inc. plans to increase its spending on new plants in the US to $250 billion to help meet demand for its memory chips. The company's spending is expected to carry through 2035 and help support its goal of producing 40% of its DRAM components in the US.
-AstraZeneca (AZN) shares drop. AstraZeneca Plc's shares dropped more than 10% after a trial of a new heart drug failed to help prevent heart problems in patients with a rare disease. The drug, a gene silencer developed with Ionis Pharmaceuticals Inc., didn't reduce cardiovascular events or deaths from heart problems in a late-stage trial.
-Meta (META) shares fall. Reuters reports that the Facebook parent plans to start manufacturing its AI chip in September, citing an internal memo from the company. Meta is working with Broadcom Corp. to design and TSMC to manufacture, and it has secured long term multi-year agreements with Samsung for memory chips, Sandisk for flash storage and Sumitomo Electric for fiber optic equipment.
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On this episode of Stock Movers:
- PepsiCo (PEP) shares are higher as it reported core earnings per share for the second quarter that beat the average analyst estimate.
- Levi Strauss (LEVI) shares are lower as its full-year forecast boost underwhelmed, despite its earnings beating the average analyst estimate.
- Costco (COST) shares are moving as reported total comparable sales for June that missed the average analyst estimate.
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- PepsiCo (PEP) shares are higher as it reported core earnings per share for the second quarter that beat the average analyst estimate.
- AstraZeneca (AZN) shares are plunging after the company's gene silencer drug failed to help prevent heart problems in patients with a rare and potentially fatal disease. The announcement caused Astra shares to slump by as much as 9.9% in London trading, with the bigger issue being "a degree of credibility loss." A successful trial could have led to billions of dollars more in sales, but the trial results make Astra's ambition of more than $5 billion in Wainua sales "unlikely" due to the challenging route to approval.
- Levi Strauss (LEVI) shares are lower as its full-year forecast boost underwhelmed, despite its earnings beating the average analyst estimate.
See omnystudio.com/listener for privacy information.