Pepsi Reports; AstraZeneca and Levi Strauss Fall
from Stock Movers Hosted by iHeartPodcasts
Today's biggest winners and losers in the stock market. On this episode of Stock Movers: - PepsiCo (PEP) shares are higher as it reported core earnings per share for the second quarter that beat the average analyst estimate. - AstraZeneca (AZN) shares are plunging after the company's gene silencer drug failed to help prevent heart problems in patients with a rare and potentially fatal disease. The announcement caused Astra shares to slump by as much as 9.9% in London trading, with the bigger issue being "a degree of credibility loss." A successful trial could have led to billions of dollars more in sales, but the trial results make Astra's ambition of more than $5 billion in Wainua sales "unlikely" due to the challenging route to approval. - Levi Strauss (LEVI) shares are lower as its full-year forecast boost underwhelmed, despite its earnings beating the average analyst estimate.
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