PepsiCo Delta Air Lines and Nvidia stocks to watch amid market volatility
US stocks are facing a volatile period as investors navigate earnings season, Federal Reserve decisions, midterm elections, and geopolitical tensions between the US and Iran. The S&P 500 and Dow Jones Industrial Average are near record highs, adding to the uncertainty. Among the stocks to watch this week are PepsiCo (NYSE:PEP), Delta Air Lines (NYSE:DAL), and Nvidia (NASDAQ:NVDA).
PepsiCo’s stock has been on a downward trend, hitting its lowest level since June 2023. The company has seen a 24% drop from its yearly high, driven by weak performance in its North American divisions, despite strong international sales. Second-quarter revenue was $24.18 billion, slightly above expectations, but earnings per share missed estimates. Analysts predict a 4.32% revenue increase to $24.97 billion for the third quarter.
Delta Air Lines will release its earnings on Friday, facing challenges from rising jet fuel prices, which have surged over 106% year-over-year. The airline’s second-quarter revenue beat expectations at $17.67 billion, and its adjusted EPS of $1.56 also exceeded forecasts. Analysts anticipate a 13% revenue increase to $18.83 billion and an EPS rise to $1.88 for the upcoming report.
Nvidia’s stock hit an all-time high last week after announcing a record $150 billion share buyback program, in addition to its existing $80 billion program. The company will be in focus as key suppliers like SK Hynix and Taiwan Semiconductor, along with major clients such as Microsoft, Alphabet, and Amazon, prepare to release their earnings.