On this episode of Stock Movers:
- Jabil (JBL) shares fall after the manufacturer reported results, which Vital Knowledge says show pressure on margins in the AI-exposed Intelligent Infrastructure segment.
- Tesla (TSLA) shares fell as European sales of the electric vehicle giant dropped 22% in August, giving it a market share of just 1.9%. Even as consumers in Europe eschew Tesla, EV sales rose in the region in August, with hybrids as a particular bright spot. Still, Tesla was the worst performer among Bloomberg Magnificent Seven stocks.
- Costco (COST) reported quarterly profit that was better than expectations, a sign that spending remains healthy as shoppers prioritize essentials and seek value. The retailer's comparable sales, excluding gas and currency fluctuations, also beat expectations, and its shares were little changed Thursday afternoon. Costco has posted strong sales growth in recent years, attracting consumers with its deals, ever-changing assortment and popular Kirkland brand, and tends to be more resilient to macroeconomic swings than other companies.
See omnystudio.com/listener for privacy information.
