UPS shares slide, JetBlue sees bounce back, upbeat GE free cash flow outlook, Chinese-based stocks continue decline

Yahoo Finance’s Ines Ferre reports on the day's trending tickers.

Video transcript

ALEXIS CHRISTOFOROUS: Let's check in with Ines Ferre right now who's live for us in our studio with a look at some of today's big tickers. And, Ines, I know UPS on your radar-- disappointing investors with that delivery number.

INES FERRE: That's right, with investors seeing a slowdown in deliveries in the US, down 3% year-over-year-- ground deliveries volumes also down. So we're looking at UPS that's down 7%-- 7.5% after its quarterly results. If we just take a look at a year-to-date chart before these results came out-- year-to-date, the stock was up 25%. You can see it's still year-to-date up 15%.

Of course, we are comparing the quarter to that of last year, which was really, of course, in the thick of the pandemic. So you would be expecting to see a slowdown. Last year, people during this time were really hunkered down in their homes and ordering online, Alexis.

KRISTIN MYERS: All right, Ines, let's talk now about the airlines-- specifically JetBlue. I know the coronavirus meant that folks were able to get very low fares. It looks like that is now over.

INES FERRE: Yes, that's right, because the fares have increased. And we are seeing JetBlue down 7% off of its quarterly results. Cost projections is really what is concerning investors-- those going up. But as you mentioned, those fares-- leisure fares are now at the 2019 levels-- those reached the 2019 levels this month.

So if you are taking a flight-- I'm sure that you've noticed if you've taken a flight recently, you're not getting big discounts like you were in the thick of the pandemic last year. Also some interesting commentary from JetBlue regarding its capacity levels that it is seeing that those capacity levels will be largely restored in the third quarter. And also I want to mention the COVID variant Delta, because they did mention that COVID variant saying, really, that it has not affected travel.

And as we can see, you're looking at fares that are higher, people that are traveling more. The stock, though, under pressure because of those cost projections.

ALEXIS CHRISTOFOROUS: And also, I'm looking at our trending tickers page on the site, Ines, and GE is there getting a nice bump today on news-- better than expected news, I guess, about their free cash flow.

INES FERRE: Yeah, that's right. That free cash flow projection coming in better than what the Street had been expecting. The company did beat on the top and the bottom line. It's the free cash flow that's really-- that was bumping the stock up. Of course, we've got the overall markets that are down today. The stock is up just 1%.

The results also, GE saying, were driven by its health care and services. Aviation also showing some early signs of recovery, but I do want to show you-- I mean, over the last three months, GE has really been trading in this range, around the $13 level. If we take a look at a six-month chart, it's up 14% over the last six months, year-to-date up 20%. But GE is one of those stocks that you can easily see at these kinds of levels for quite a long time-- this 13 share level-- $13 a share level over the last month-- today, seeing a bit of a bump despite the overall markets that are down.

KRISTIN MYERS: All right, Ines, you know, at the start of our show in the last hour I talked about two Chinese automakers which are under pressure. I know that you're looking at some Chinese-based stocks as well. A lot of pressure, as you can see, a lot of red across that screen over some of those regulatory fears. Give us some more details there.

INES FERRE: Yeah, that's right. We are seeing a lot of red with these Chinese-based stocks. That you've got Alibaba that's down more than 5%, Nio, as you were just mentioning, down 9%. I do want to mention the Hang Seng, the Hong Kong Hang Seng, closed down more than 4%. Over the last two days it's lost about 8% because of regulatory issues, concerns, fears in Beijing with Chinese companies.

So you are looking at-- I mean, if we just take a look at a five-day chart, you can just see BABA down 14%, over the last month BABA down 20%, Nio down 13%. You can just see-- Pinduoduo down 38%. You can see the heavy sell-off that we've been watching in these Chinese space stocks. And also I want to mention Hello-- this is a company-- a Chinese-based bike-sharing company.

It was planning its IPO that was going to happen on the NASDAQ, hoping to raise some $100 million. The company has now scrapped that IPO-- so just to show you the delicateness that we're looking at when it comes to these Chinese-based stocks

ALEXIS CHRISTOFOROUS: For sure. All right, Ines Ferre, thanks so much.