U.S. Movers: Discover Financial Domino's Pizza, United Airlines, Taiwan Semiconductor

Scott Peters
18 Jul, 2024
New York City

United Airlines Holdings increased 2% to $47.95, and the international carrier reported mixed quarterly results. 

Total revenue in the second quarter increased 5.7% to $47.95, net income jumped 23.1% to $1.3 billion from $1.1 billion, and diluted earnings per share advanced to $3.96 from $3.24 a year ago. 

Discover Financial Services rose 4.1% to $147.27, and the bank and payment services provider reported better-than-expected quarterly results. 

Revenue in the second quarter increased 17% to $4.5 billion from $3.9 billion, net income rose 70% to $1.5 billion from $895 million, and diluted earnings per share advanced to $6.06 from $3.54 a year ago. 

Total loans at the end of the quarter increased 8% to $127.6 billion from $117.9 billion, and the total net charge-off rate rose 161 basis points to 4.83% from 3.22% a year ago. 

Taiwan Semiconductor gained 2% to $174.95 after an advanced semiconductor maker reported better-than-expected quarterly results. 

Revenue in the second quarter increased 40% to NT $673.5 billion, net income jumped 36% to NT $247.8 billion, and diluted earnings per share rose 36.3% to NT $9.56. 

In U.S. dollars, second-quarter revenue increased 32.8% from a year ago to $20.82 billion, an increase of 10.3% from the previous quarter. 

Gross margin for the quarter was 53.2%, operating margin was 42.5%, and net profit margin was 36.8%. 

The company forecasted strong demand for its 3 nanometer production capacity from artificial intelligence-linked customers, and third quarter revenue is expected to range between $22.4 billion and $23.2 billion, and gross margin is expected to be between 53.5% and 55.5%. 

Domino's Pizza plunged 11.9% to $416.50 after the pizza delivery company reported mixed second-quarter results. 

Revenue in the second quarter increased to 7% to $4.4 billion from $4.2 billion, net income increased 29.8% to $142 million from $109.3 million, and diluted earnings per share advanced 30.8% to $4.03 from $3.08 a year ago. 

Same store sales growth at the U.S. locations increased to 4.8% from 0.1%, and international locations eased to 2.1% from 3.6%. from a year ago, respectively. 

The company temporarily suspended its estimate of global stores of more than 1,100 due to the difficulties in international markets in Australia, Japan, and France. 

The company now expects global net store growth to be between 825 and 925 in 2024, below the goal of 925 stores, and the U.S. locations to increase between 175 and 275 stores.