Market Updates
U.S. Movers: Costco, Delta Air Lines, MicroStrategy, PepsiCo, Pfizer, PriceSmart, WD 40 Company,
Scott Peters
11 Jul, 2024
New York City
Costco Wholesale declined 3.5% to $853.66 after the warehouse membership club operator raised annual subscription fee in the U.S. and Canada by $5 and premium membership by $10.
MicroStrategy jumped 7.2% to $1,400.36, and the largest corporate holder of bitcoin announced a 10-to-1 stock split on Thursday.
The company announced two classes of stock, Class A and Class B, to make its stock more accessible to investors and employees.
Delta Air Lines declined 5.8% to $44.11, and the international air carrier reported weaker-than-expected quarterly results.
The airline said net income in the second quarter dropped 30%, despite revenue reaching a record high.
The company also estimated a lower-than-expected increase in revenue in the current quarter and estimated earnings per share in the third quarter to range between $1.74 and $2.0.
Pfizer jumped 0.5% to $28.45, and the drugmaker said it will continue making its daily weight-loss pill following encouraging data in early-stage trials.
PepsiCo decreased 0.6% to $162.16 after the snack and beverage company reported mixed quarterly results.
Revenue increased 0.8% to $22.5 billion from $22.3 billion, net income advanced to $3.1 billion from $2.8 billion, and diluted earnings per share rose to $2.23 from $1.99 a year ago.
WD 40 Company increased 2.8% to $225.90, and the lubricant maker reported better-than-expected fiscal third quarter results.
PriceSmart edged slightly higher to $78.27 after the membership warehouse retail chain reported fiscal third-quarter results that were ahead of market expectations.
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