DHL Jumps, Continental Falls, BP Rises
On this episode of Stock Movers:
- DHL gained as much 6.7%, the most since April, after the logistics giant posted a strong second-quarter earnings beat against somewhat muted expectations, with analysts citing its cost control as a key positive and reason for the beat.
- Continental shares were down as much as 2.8% after the German firm reported adjusted Ebit for the second quarter that missed the average analyst estimate, with brokers citing tariff and FX-led tire division weakness. Still, analysts noted margin improvement in the autos segment to be spun off in September.
- BP stocks were up as much as 2.8% after the oil major reported adjusted net income for the second quarter that beat the average analyst estimate. The company also announced it will buy back $750 million of shares.
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