Movers: Applied Materials, Albertsons, Delta Air, Domino's Pizza, Victoria's Secret, Walgreens

Scott Peters
13 Oct, 2022
New York City

Benchmark indexes soared nearly 3% and rebounded from the 3% decline at the opening after investors surmised consumer price inflation has peaked. 

The Consumer Price Index accelerated on a monthly basis to 0.4% in September but eased to 8.2% from an annual basis, the Department of Labor reported Thursday. 

Applied Materials, Inc increased 4.1% to  $79.10 and the chip equipment maker lowered its revenue fiscal fourth quarter ending in October after the U.S. placed additional restrictions on sales to China.  

The revenue is estimated at $6.4 billion with a $250 million band compared to the previous estimate of $6.65 billion with a $400 million band. 

The company also lowered its adjusted earnings per share estimate in the range between $1.54 and $1.78 from the previous estimate of $1.82 and $2.18. 

Albertsons Companies Inc soared 11.9% to $28.73 after CNBC and Bloomberg suggested that the retailer is likely to strike a merger deal with Kroger as early as this week.  

Both companies did not return calls to confirm the news. 

Delta Air Lines, Inc scaled higher 4.4% to  $30.50 after the company reported record third quarter revenues on the sustained recovery in both leisure and business travel. 

Revenue in the third quarter increased to $13.98 billion, 11% higher than $12.56 billion in the similar quarter in 2019. 

Net income in the quarter was $696 million or $1.08 diluted earnings per share compared to $1.5 billion and $2.31 in the quarter in 2019. 

The airline guided December quarter revenue to rise between 5% and 9% compared to a similar period in 2019 and earnings per share between $1.0 and $1.25. 

Domino's Pizza Inc sizzled 9.8% to $331.42 after the company said revenue in its latest quarter increased 7.1% to $1.07 billion and net income declined to $100.5 million from $120.4 million a year ago. 

Revenue increase was largely driven by 4.1% price hike at the company owned stores and similar increases charged to stores owned by franchisees. 

Diluted earnings per share fell to $2.79 from $3.24 a year ago. 

The company lifted its estimate of the negative impact of changes in foreign currency exchange rates on royalty revenues in the range between $29 million and $31 million from $22 million and $26 million. 

Progressive Corp fell 0.3% to $121.02 and the insurance company said net premium written in the quarter ending in September increased 5% to $13.02 billion. 

Net income in the quarter increased 5% to $124.5 million from $118.1 million and earnings per share rose to 20 cents from 19 cents a year ago. 

Taiwan Semiconductor Manufacturing Co Ltd tripped up 4.8% to $67.21 after the company said third quarter revenues increased 35.9% from a year ago and 11.4% from the previous quarter to $20.23 billion. 

Consolidated revenue increased 47.9% to NT$613.14 billion, net income jumped 79.7%to NT$280.87 billion and  diluted earnings per share surged 79.8% to NT$10.83 or $1.79 per ADR unit.

Gross margin in the quarter was 60.4%, operating margin was 50.6% and net profit margin was 45.8%. 

In the third quarter, shipments of 5-nanometer accounted for 28% of total wafer revenue; 7- nanometer accounted for 26%. 

Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 54% of total wafer revenue, the statement from the company noted. 

Victoria's Secret & Company sparkled 6.2% to $34.46 after the apparel retailer guided its latest quarterly earnings is likely to be near the high end of the range. 

Third quarter operating earnings are expected to be near the high end of the range between $10 million and $40 million and diluted earnings per share between breakeven and 25 cents a share. 

The revised operating income and earnings guidance is based on the estimated net sales decline in the high single digit range, as previously stated. 

Walgreens Boots Alliance Inc burped up 5.9% to $33.82 after the pharmaceutical retailer said revenue in the fiscal fourth quarter ending in August declined to $32.4 billion from $34.3 billion a year ago. 

The retailer swung to a net loss of $415 million from $627 million and diluted earnings per share to a loss of 48 cents from 72 cents a year ago. 

Walgreens guided fiscal 2023 adjusted earnings per share between $4.45 and $4.65.