On this episode of Stock Movers:
- Starbucks (SBUX) shares are higher this morning after the coffee chain reported net revenue for the third quarter that beat the average analyst estimate. The report also showed that comparable sales came in better-than-expected in China and North America, two of the company’s key markets.
- Mondelez (MDLZ) is under pressure this morning after it said unease around the economy drove a bigger-than-expected decline in North American sales in the second quarter. CEO Dirk Van de Put said customers are worried about their personal finances, employment outlook and inflation, and he doesn't expect a quick rebound in the US market.
- Hershey's (HSY) shares are lower after it lowered its full year profit guidance on much tariff costs than it had previously estimated. The company now sees full-year tariff costs to be $170 million to $180 million, up from its estimate of $15 million to $20 million in May, the company said in a statement Wednesday.
- Visa (V) shares are sliding after it reported third-quarter results that beat Wall Street estimates, but said it still expects earnings per share to increase by a percentage in the low teens and revenue to grow by low double digits, according to a presentation. Mizuho Securities analyst Dan Dolev said in a note to clients that Visa’s failure to lift the full-year outlook may be to blame for the stock drop.
- Humana (HUM) is soaring on news it raised its profit guidance for the year, with management saying medical costs were in line with expectations and the company benefitted from growth in its Medicare Advantage and pharmacy businesses.
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