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The Stock Movers Report, your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg.
Data, Let's take a look at some stocks on the move today. I'm Nathan Hager, joined by Bloomberg's Valerie Titel on the unofficial kickoff of third quarter earning season. Valerie, good morning. I guess we can say it's off to a high flying start after the results from Delta. Good morning, Good morning, Nathan.
Yes, it is a splashy return to earning season. Not only is the US consumer buying expensive plane tickets, they're also buying fancy sodas from PepsiCo and big ticket items from Costco. But let's start with the airline industry. We have Delta Airlines up over five percent after better than expected results, the CEO saying we're not seeing any pullback in demand. So it does seem to be like the
consumer is still prepared to spend. The Delta did well across the aircraft, so both in back of the cabin and the more front of the cabin more lucrative premium seats. The growth in the premium tickets is really important here for Delta because both Delta and United have pushed more into the premium products as they seek to differentiate themselves from budget carriers. They also predicted strong demand into next year. Full year earnings per share is expected to be about
six dollars a share, ahead of analyst consensus. So this is also lifting the whole sector. Nathan, So, Delta is up over five percent, American Airlines up four percent, and United up three and a half.
Well, let's go next to PepsiCo. So, I guess consumers are up spending for some of those snacks in the grocery al.
Huh and fancy sodas. PepsiCo is up two point six percent. They're seeing a turnaround in their beverage shells in North America, driven by these healthier sodas that they are touting. So PepsiCo owns Lays, Gatorade, Quaker brands, but it was really down to their beat in the beverage unit, which saw about two percent growth in North America's strongest in nearly two years. It's all on the back of their trademark Pepsi Beverage Yes, as well as Poppy, which is a
healthier soda that it acquired earlier this year. On PepsiCo has been trying to keep up with shifting consumer tastes by expanding into its healthier, more high protein, more portion controlled offerings, and it seems to be paying off, with PepsiCo up over two percent so far in pre market trade.
All right, let's go to Costco next, because the warehouse shoppers are still going through the door there.
Costco posted some pretty decent comparable sales for September. It beat estimates, analysts calling it impressive eight percent rise year and year. So Costco up one and a quarter percent so far in pre market trade following this enthusiasm.
And we got to talk about downside movers, and this one's an earning story as well. Big disappointment coming from of all names.
Ferrari, Yeah, this one is pretty ugly. Ferrari shares have been halted for a second time in Milan, down fifteen percent. The ADRs are also down over thirteen percent their US listed stock, biggest drop in nearly a decade. They gave a cautious forecast at an investor day that disappointed investors. They've also announced plans to essentially scale back their plan to make electric vehicles they have their twenty thirty target
for evs in their product mix now. Their shares have outperformed general automakers in the past five years, but it's looking like today could really be changing that narrative with this disappointment on the pullback on EV's.
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