Market Updates
U.S. Movers: Cal-Maine Foods, Cruise Stocks, Energy Stocks, Insulet, Intel
Scott Peters
04 Oct, 2023
New York City
Cal-Maine Foods Inc plunged 7.7% to $44.05 after the egg producer reported sharply lower sales in its latest quarter after prices declined.
Revenue in the fiscal first quarter ending in September decreased to $459.3 million from $658.3 million and net income plunged to $926,000 from $125.1 million and diluted earnings per share plunged to 2 cents from 2 cents from $2.57 a year ago.
Dozens eggs sold declined to 273.1 million from 275.3 million and net average selling price per dozen plunged to $1.58 from $2.27 a year ago.
Intel Corporation declined 0.4% to $35.57 after the advanced chipmaker said it plans to operate its programmable chip division as a standalone unit in preparation of a public offering in the next two years.
Energy stocks declined in active trading after crude oil prices fell $5 to $84.27 a barrel.
Exxon Mobil decreased 4.5% to $110.54, Chevron Corp declined 3% to $161.93, Marathon Petroleum dropped fell4% to $141.32 and Hess Corp plunged 5% to $141.92.
Insulet Corporation dropped 3.5% to $151.21 after the company said Wayde McMillan would step down from the office of chief financial officer.
Cruise lines operators advanced after crude oil prices fell sharply.
Carnival Corp rose 2.5% to $13.06, Royal Caribbean Cruises Ltd added 2.4% to $88.87 and Norwegian Cruise Line Holdings added 2.6% to $16.31.
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