Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- PepsiCo (PEP) shares are lower after the company decreased its profit outlook, with its recovery in North America taking longer than expected. PepsiCo faces higher costs in North America that are weighing on margins, and will be raising some prices in the coming months after cutting prices on some marquee brands earlier this year.
- Microsoft (MSFT) shares are following news the company's Xbox unit is formalizing its film and TV foray with a new division called XP to expand its franchises into other media.
- Levi Strauss (LEVI) is lower after it posted the slowest growth in its direct-to-consumer channels since late 2022, in part due to a marketing misstep. The company expects direct-to-consumer growth for the current quarter to increase by a mid-single digit, after changing its marketing to focus on low-rise jeans.
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