On this episode of Stock Movers:

- Starbucks (SBUX) is developing in-house tools with the help of artificial intelligence that could replace some software applications it now buys from companies such as Microsoft (MSFT) and International Business Machines (IBM). Starbucks spends about $400 million a year on software alone, and building in-house software can be cheaper, an incentive for the company, which is looking to cut costs as part of a broader turnaround effort. Shares of Microsoft fell 2.4% and IBM sinking 5.2%.

- PepsiCo (PEP) shares are down 2% ahead of the bell after the company reported weaker-than-expected performance in domestic food and beverage categories for the second quarter. Management blamed “consumer budgets tightening due to rising inflationary pressures,” said and constant currency core EPS growth would be primarily weighted toward the fourth quarter, which some analysts say clouds visibility.

- Costco shares fall as much as 4.1%, to the lowest intraday since Jan. 9, after the club store operator’s June comparable sales missed Street expectations.

On this episode of Stock Movers:
- Starbucks (SBUX) is developing in-house tools with the help of artificial intelligence that could replace some software applications it now buys from companies such as Microsoft (MSFT) and International Business Machines (IBM). Starbucks spends about $400 million a year on software alone, and building in-house software can be cheaper, an incentive for the company, which is looking to cut costs as part of a broader turnaround effort. Shares of Microsoft fell 2.4% and IBM sinking 5.2%.
- PepsiCo (PEP) shares are down 2% ahead of the bell after the company reported weaker-than-expected performance in domestic food and beverage categories for the second quarter. Management blamed &ldquo;consumer budgets tightening due to rising inflationary pressures,&rdquo; said and constant currency core EPS growth would be primarily weighted toward the fourth quarter, which some analysts say clouds visibility.
- Costco shares fall as much as 4.1%, to the lowest intraday since Jan. 9, after the club store operator&rsquo;s June comparable sales missed Street expectations.

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Listen for five-minute conversations on today's biggest winners and losers in the stock market.&nbsp;
Subscribe for analysis on the companies making news in global equity markets. Episodes are published throughout the day to track stock moves from New York, London, Frankfurt and Paris. Join us for investment news covering technology, energy, finance, health care, communications, industrials, utilities, consumer staples, materials, real estate and more.

Listen for news on today's biggest winners and losers in the stock market.

Stock Movers

Starbucks Sends Tech Lower, Pepsi Shares Fall, Costco Slides

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/7b01b802-f3dc-4ccf-bb34-b482015b79e1/transcript