Welcome to the Extreme Investor Network, where we bring you the latest updates on the companies making headlines in the finance world. Today, we’re diving into the latest stock movements and announcements that are impacting the market.
Alaska Air Group surprised investors by raising its third-quarter outlook, citing strong summer demand. This led to a 5% increase in shares as the airline guided for earnings per share in the range of $2.15 to $2.25, surpassing its prior guidance.
On the flip side, Moderna saw a drop of over 6% after announcing plans to cut expenses by $1.1 billion by 2027. Despite this cost-saving effort, the drugmaker also shared its anticipation for the launch of 10 new products through 2027.
Oxford Industries took a hit as its shares plummeted by 10% following the release of second-quarter figures that fell short of expectations. The clothing company reported adjusted earnings of $2.77 per share, below the FactSet consensus estimate.
Meanwhile, Interpublic Group of Companies faced a 2% slide as UBS downgraded the advertising stock to sell from neutral. The bank highlighted concerns that investors may not be fully factoring in the potential loss of clients or the effectiveness of the company’s strategic initiatives.
On a more positive note, U.S. Bancorp’s stock rose over 1% after announcing a dividend hike and a $5 billion stock buyback plan. Kroger also saw an increase in shares ahead of its fiscal second-quarter results.
To top things off, Diageo’s shares surged by 1.4% after Bank of America upgraded the alcohol beverage company to buy from neutral. The bank believes that the worst is behind Diageo, providing a positive outlook for investors.
Stay tuned to Extreme Investor Network for more exclusive insights and analysis on the ever-changing financial landscape. Our team of experts is dedicated to keeping you informed and empowered in your investment decisions.