The beverage market in the U.S. appears saturated. Monster Beverage (MNST) is an underperforming stock today. The company posted revenue growing by 2.7% Y/Y to $1.9 billion. This is below the rate of inflation. The firm faces increasing competitive pressures from Celsius (CELH), too.
On the conference call, the company discussed the positive factors driving energy drink demand. However, Monster experienced a decline in consumer spending. Foot traffic at convenience channels is falling. Conversely, the company may realize growth in the grocery and online purchasing segment.
EPAM Systems (EPAM) is another stock in decline. The stock lost 8% on Thursday. The firm reported a -1.7% Y/Y change in revenue, to $1.15 billion. For the full year, EPAM lowered its revenue guidance from $4.590 billion to $4.62 billion. To take advantage of EPAM stock falling, the board approved a new stock buyback program. It will buy back up to $500 million in EPAM shares.
Intel (INTC) may potentially bounce back sharply from the $20.50 support line. After falling from above $30, traders may bet that the 15% job cut will lower costs enough to raise profit margins. Management issued a weak gross margin forecast of 34% in the third quarter of 2024.
Intel is refreshing its PC and laptop chips in October. This may lift sales in the second half of the year.
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