Movers: Alibaba, Carnival, Lyft, Occidental Petroleum, PVH, Walgreens Boots

Scott Peters
28 Mar, 2023
New York City

Alibaba Group Holding Ltd jumped  8.02% to $93.03 after the Chinese e-commerce giant said it plans to split the company into six separate units including e-commerce, media and cloud services. 

Carnival Corp increased 6% to $9.34 after the cruise line operator reported record quarterly bookings in the fiscal first quarter ending in February. 

Revenue in the quarter increased to $4.4 billion from $1.6 billion and net loss shrank to $693 million from $1.9 billion and diluted loss per share decreased to 55 cents from $1.66 a share. 

The cruise line estimated 98% occupancy in the fiscal second quarter and estimated adjusted operating earnings between $600 million and $700 million, compared to $382 million in the first quarter.  

Lyft Inc increased 6.0% to $10.19 after the ridesharing company said its co-founders, chief executive Logan Green and President John Zimmer, plan to step down from management roles and transition to non-executive roles.  

Former Amazon executive David Risher will become chief executive officer on April 17. 

Occidental Petroleum Corporation jumped 2.1% to $60.89 and a regulatory filing showed Berkshire Hathaway acquired additional 3.7 million shares for $216 million, increasing the Warren Buffett controlled conglomerate's stake to 23.5%.   

PVH Corp soared 18.9% to $87.58 after the apparel maker posted better-than-expected earnings in its latest quarter. 

Revenue in the fourth quarter ending in January increased 2% to $2.49 billion and net income declined to $138.7 million from $390.8 million and diluted earnings per share fell to $2.18 from $5.553 a year ago. 

Revenue in the full-year 2022 fell to $9.0 billion from $9.2 billion and net income decreased to $200.4 million from $952.3 million and diluted earnings per share plunged to $3.03 from $13.25 a year ago. 

The apparel maker guided revenue in 2023 to increase between 3% and 4% and diluted earnings per share is projected to be $10.0 compared to $3.03 a year ago. 

Walgreens Boots Alliance Inc advanced 3.7% to $34.17 after the pharmacy operator reported better-than-expected fiscal second quarter earnings. 

Sales in the fiscal second quarter ending in February increased 3.3% to $34.8 billion from $33.7 billion and net income fell to $703 million from $883 million and diluted earnings per share declined to 81 cents from $1.02 a year ago. 

The company retained its full-year adjusted earnings per share outlook between $4.45 and $4.65 a share, reflecting acceleration in business in February.