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Shares of Kroger, the supermarket chain, surged over 4% in midday trading following the release of their mixed fiscal second-quarter results. Despite revenue falling short of expectations, Kroger reported adjusted earnings that beat estimates by 2 cents per share. Petco also saw a significant increase in their stock price, jumping 14% after a post-earnings rally of almost 33% the day before, marking their best day on record. Conversely, Moderna’s stock plummeted nearly 16% after announcing plans to cut $1.1 billion in expenses by 2027 while launching 10 new products. Gilead Sciences experienced a 2% increase in their shares after announcing positive results from a Phase 3 clinical trial for their HIV prevention medication. Alaska Air Group rose 1% after raising their third-quarter earnings outlook due to strong summer demand. Interpublic Group of Companies saw a 2% decrease in their stock following a downgrade from UBS. U.S. Bancorp slipped nearly 2% despite announcing a dividend hike and share buyback plan. Diageo’s stock increased by 3% after an upgrade from Bank of America. Roku’s shares jumped 5% after being upgraded by Wolfe Research, and Oracle saw a 2% increase in their stock price after being named a top investment idea by Bernstein..

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