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

Scott Peters
10 Apr, 2024
London

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.