See which businesses are trending in midday trading:
Delta Air Lines: The airline’s stock dropped by over 5% following the release of a third-quarter revenue growth estimate that fell short of forecasts. Additionally, as compared to a year earlier, the company’s net income during the second quarter dropped by nearly 30%.
Following the announcement, shares of the two largest airline stocks, American Airlines and United Airlines, also decreased by roughly 4.7% and 3.7%, respectively.
MicroStrategy—Trading as the biggest corporate bitcoin holder, the company’s shares increased by almost 3% on Thursday following the announcement of a 10-for-1 stock split intended “to make MicroStrategy’s stock more accessible to investors and employees.”
Costco Wholesale — The membership-based warehouse club’s stock dropped by over 3%. The store had revealed its first membership fee rise since 2017 just one day prior. Costco is increasing the cost of its higher-tier membership by $10 and its annual membership fees by $5 in the United States and Canada.
Lantheus Holdings — The company, which produces radiopharmaceutical diagnostics, saw a 15% increase in share price during trading, maintaining gains from the previous session. After the Centres for Medicare and Medicaid Services announced a rule aimed at reducing the costs of diagnostic radiopharmaceuticals on Wednesday, the stock shot up over 37%.
PepsiCo: After releasing erratic second-quarter numbers, the massive food and beverage company stayed close to the flat line. Overshooting the LSEG average forecast of $2.16 per share, PepsiCo reported adjusted earnings of $2.28 per share. $22.5 billion in revenue was received, less than the $22.57 billion anticipated.
Tesla — Following a report by Bloomberg News indicating that the business intends to move its robotaxi debut from August to October, shares of the electric vehicle manufacturer dropped 6%.
Artificial Soundhound — After the firm announced the launch of its voice assistant and stated that it is in production to be integrated across all Stellantis vehicle brands in Europe, the stock increased by 5%.
Conagra Brands: Shares of the food company dropped 2.6% after the company revealed fiscal fourth-quarter revenue of $2.91 billion, below analysts’ projection of $2.93 billion. Along with modest forecast, the company predicted that yearly organic net sales would be 1.5% to flat from the previous year.
Source (CNBC)
