Movers: Amazon, Cirrus Logic, Delta Air, Disney, MillerKnoll, PepsiCo, Progressive Corp, Viasat

Scott Peters
13 Jul, 2023
New York City

Delta Air Lines rose 3.5% to $49.75 after the international air carrier reported record  quarterly earnings and sales and also lifted its 2023 earnings estimate. 

Revenue in the June quarter increased 13% to $15.6 billion from $13.8 billion and net income soared to $1.8 billion from $735 million and diluted earnings per share advanced to $2.84 from $1.15 a year ago. 

MillerKnoll Inc increased 1.1% to $16.65 after the furniture maker reported better-than-expected earnings. 

Revenue in the June quarter declined 13% to $956.7 million from $1.1 billion and net income declined to $0.1 million from $23.2 million and diluted earnings per share dropped to zero from 28 cents a year ago.    

PepsiCo increased 1.1% to $185.22 after the food and beverage company reported better-than-expected revenue of $22.32 billion and adjusted net income of $1.96 a share.  

Revenue in the second quarter increased 10.4% to $22.3 billion from $20.2 billion and net income rose to $2.7 billion from $1.4 billion and diluted earnings per share advanced to $1.99 from $1.03 a year ago. 

Walt Disney Co increased 0.2% to $90.35 and the company agreed to extend CEO Bob Iger's contract by two more years to 2026. 

The company is likely to acquire the remaining 34% stake in Hulu from Comcast as early as next year. 

Chief executive Bob Iger said in an interview with CNBC that the company is "better off having Hulu."

Denbury Inc declined 0.6% to $87.20 after the company agreed to be acquired in an all-stock deal of $4.5 billion from ExxonMobil. 

The company agreed to be acquired for $89.45 a share. 

Cirrus Logic, Inc declined 1.8% to $81.32 after the company said in a regulatory filing that it plans to reduce its global workforce by 5%. 

Viasat Inc plunged 28.5% to $30.85 after the company reported malfunction with its recently deployed Viasat-3 Americas satellite. 

Amazon.com, Inc increased 2.2% to $133.77 after the company reported record Prime Day sales of $12.7 billion. 

Progressive Corp declined 12.4% to $133.77 after the automobile insurance company reported net premium in the quarter increased 14% to $14.7 billion from $12.4 billion and combined ratio increased to 100.4 from 95.6 a yar ago. 

The company swung to a profit of $345.4 million from a loss of $542.9 million and total pretax realized gain on securities increased to $126.9 million from a loss of $1.17 billion a year ago.