Bell: Check out the companies making headlines before Carnival – Cruise Line jumped over 6% after shattering second quarter revenue and revenue that smashed analyst expectations. Carnival reported adjusted earnings of 35 cents per share against revenues of $6.333 billion. According to FactSet, analysts had expected a profit of $6.21 billion with revenue of 25 cents per share. Airlines – Airlines rose in the wake of falling oil prices after President Trump called for a ceasefire in Iran and Israel. Frontier Group rose 3%, United Airlines won over 2.5%, American Airlines Group rose 2.1%, Delta Line and JetBlue Airways rose 1.7%, Alaska Airlines increased 1.4%, and Southwest Airlines rose 1%. Chewy – Pet-centric e-commerce retailer fell 1.5% after a second sale of a new Class A share of $1 billion through JPMorgan. Chewy also allowed the $100 million shares to be repurchased. KB Home – Homebuilder fell 1.1% after KB Home lowered its full-year revenue guidance. Los Angeles-based KB expects housing revenue to fall between $6.3 billion and $6.5 billion, down from the previous $6.6 billion to $7 billion. The CEO of KB Home said the housing market has “softer” with the revenue release. Defense Stocks – Defense stocks have fallen after US President Donald Trump said Tuesday a ceasefire in the Iran-Israel conflict was in effect. Stocks in Lockheed Martin and RTX each fell more than 1%. Oil – Oil inventory has changed little after Trump announced an effective ceasefire between Israel and Iran. The Vaneck Oil Services ETF eased 0.2%, while Exxon Mobil has retreated by more than 1%. Visa, MasterCard – Wells Fargo has repeatedly overweight ratings at both payment providers, and Visa and MasterCard have risen by more than 1% and 2% respectively, saying investors should take advantage of the latest pullback. First Financial Bancorp – Shares rose 1.7% after the Cincinnati-based bank agreed to buy Westfield Bancorp from Ohio Farmers Insurance Company with $325 million in cash and shares. Thor Industries – The owner of the RV brand won 1.7% after allowing a $400 million buyback. Snowflake – Cloud-based online data storage company rose 2% after Morgan Stanley upgraded from equal weight to overweight. Investment banks, who say Snowflake has more than 22% advantages, believe that the growth of artificial intelligence will increase stock prices. – Reports from CNBC’s Michelle Fox, Alex Hurling and Jesse Pound
