Try the businesses making headlines earlier than the bell: Alaska Air Group — Shares gained 5% after Alaska Air Group raised its third-quarter outlook, citing robust summer time demand. The airline guided for per-share earnings within the vary of $2.15 and $2.25, higher than prior steering of $1.40 to $1.60 earnings per share. Moderna — Shares shed greater than 6% after the drugmaker introduced plans to slash bills by $1.1 billion by 2027. Moderna additionally mentioned it anticipates the launch of 10 new merchandise by way of 2027. Oxford Industries — Shares dropped 10% after the clothes firm behind Tommy Bahama posted second-quarter figures that missed expectations. Oxford Industries posted adjusted earnings of $2.77 per share, decrease than the FactSet consensus estimate of $3 earnings per share. Income of $419.9 million got here in beneath the $438.2 million forecast. Interpublic Group of Firms — The promoting inventory slid 2% on the heels of a UBS downgrade to promote from impartial. UBS mentioned traders will not be absolutely pricing within the potential that IPG is shedding purchasers for structural causes, or that the present strategic initiatives won’t repair the corporate’s points in a well timed method. U.S. Bancorp — The financial institution inventory rose greater than 1% after asserting a dividend hike. U.S. Bancorp additionally introduced a $5 billion inventory buyback plan. Kroger — Shares of the grocery store chain have been barely larger forward Kroger’s fiscal second quarter outcomes this morning. Diageo — Shares popped 1.4% after Financial institution of America upgraded the alcohol beverage firm to purchase from impartial, saying the “worst is behind” it. — CNBC’s Alex Harring, Hakyung Kim, Jesse Pound and Samantha Subin contributed reporting
