In the financial world, it seems the mood has been a bit shaky lately, hasn’t it? On Wednesday, traders experienced some volatility, and there are some interesting developments to keep an eye on. President Donald Trump has suggested that Coca-Cola might want to switch from corn syrup to sugarcane in their products. I suppose that’s a pretty significant change, if it happens. He mentioned on social media that it could be beneficial for the company, and reports indicate that they will share details about new innovative offerings soon. As for Coca-Cola, its stock has decreased by 7% since it reached a high on April 22, but it’s still up 11% year-to-date.
PepsiCo, on the other hand, is reporting their earnings on Thursday. Their stock has dipped by 3% over the last three months and about 11% for the year, which isn’t great news for them. Meanwhile, GE Aerospace is also on the docket for quarterly revenue reporting. They have gained about 46% recently, hitting new highs on Wednesday, with a 6% increase just this past week. CEO Larry Culp will be discussing the results early Thursday morning, which should be interesting.
United Airlines reported its earnings, and while they exceeded expectations for earnings per share, their revenues were slightly underwhelming. Passenger revenue has dropped by 7% compared to last year, although their stock has risen about 12% in the past month.
Then there’s Netflix. They’re due to report after the market closes on Thursday, and their stock is currently just 7% shy of where it was at the end of June. It’s impressive to see they’ve gained 30% in the last three months.
Also noteworthy is the home-building sentiment number coming out at 10am. The SPDR S&P HomeBuilders ETF has seen a decline of 20% since its peak in November, with most stocks in that sector down this week, except for Johnson Control. TopBuild has done well, increasing around 11%, while Builders FirstSource and Dream Finders have both ticked up by about 7%. It’s a mixed bag for companies like Home Depot and Lowe’s, though, which are at lower levels right now.
And speaking of swings, MP Materials suffered a 4% drop in after-hours trading, despite a recent deal Apple struck with them. Their stock has surged around 95% over the last five days, which is quite a turnaround, especially considering the Department of Defense’s investment in them.
In the biotech space, Sarepta Therapeutics has seen growth of over 30% after hours. They’ve faced challenges, though—cutting a significant portion of their workforce and having to deal with serious warnings on some drug labels.
Lastly, in a somewhat lighter segment, Jim Cramer weighed in on some food stocks, joking about being “all about fitness” while mentioning Papa John’s and Wendy’s. Interestingly, Papa John’s stock has dropped about 27% since last November, while Wendy’s is down 50% from then. Cramer seems to think it’s better to wait it out for Cheesecake Factory, as their stock has also seen a decline.
Overall, there’s a lot to digest in the market right now, don’t you think?
