U.S. Movers: Delta Air, Microsoft, NetEase, PriceSmart, WD 40

  • Scott Peters
  • U.S.A. London
  • Apr 10, 2024
  • Microsoft revived the game distribution partnership between its unit Blizzard and China-based NetEase despite worries of intellectual property theft. Delta Air reported strong March quarter earnings growth.

    Delta Air Lines increased 2.8% to $48.65 after the international carrier reported better-than-expected quarterly results. 

    Revenue increased 8% to $13.75 billion from $12.76 billion, net income swung to a profit of $37 million from a loss of $363 million, and diluted earnings per share were 6 cents compared to a loss of 57 cents a year ago. 

    The airline guided second-quarter revenue to increase between 5% and 7% and earnings per share to fall between $2.20 and $2.50. 

    The company also projected 2024 earnings per share to range between $6.0 and $7.0. 

    PriceSmart increased by 2.6% to $85.25 after the membership warehouse club operator reported better-than-expected second-quarter results. 

    Revenue in the fiscal second quarter ending in February rose 13.1% to $1.29 billion from $1.14 billion, net income rose to $39.3 million from $31.1 million, and diluted earnings per share rose to $1.31 from $1.02 a year ago. 

    The company declared a special dividend of $1.0 per share payable on April 30 to shareholders on record on April 19. 

    WD-40 decreased 2.8% to $248.0 after the lubricant and specialty oil products maker reported weaker-than-expected quarterly revenue. 

    Revenue in the fiscal second quarter ending in February increased 7% to $139.1 million from $130.2 million, net income edged lower to $15.5 million from $16.5 million, and diluted earnings per share eased to $1.14 from $1.21 a year ago. 

    NetEase declined 1.4% to 99.23, and Microsoft inched lower 1% to $422.16 after the two companies revived the agreement to distribute computer games in China. 

    Microsoft's online gaming unit Blizzard revived the previously available distribution partnership with China-based NetEase, including Overwatch and World of Warcraft. 

    Previously, Blizzard had terminated its partnership with NetEase, alleging intellectual copyright violations. 

Annual Returns

Company Ticker 2025 2024 2023
Microsoft Corporation MSFT 22% 12% 54%
Delta Air Lines Inc DAL -3% 51% 16%
PriceSmart Inc PSMT 2% 21% 19%
NetEase Inc NTES -2% -4% 34%
WD 40 Company WDFC -1% 1% 42%