Welcome to Extreme Investor Network, where we bring you the latest updates on the companies making headlines in the world of finance. Today, we will delve into some key market movers that you need to keep an eye on before the bell rings.
Delta Air Lines shook the market with a 9% tumble after issuing a lower-than-expected sales growth forecast for the current quarter. Despite record-high revenue, net income fell by 30% in the second quarter. On the other hand, Costco Wholesale saw a 3% increase in shares following the announcement of a membership fee hike – the first since 2017.
Pfizer’s stock rose nearly 3% as the drugmaker revealed plans to continue developing a once-daily version of its weight loss pill, backed by encouraging data from an early-stage trial. Meanwhile, PepsiCo experienced a 2% slip after reporting a slight revenue miss for the second quarter and narrowing its full-year revenue outlook.
In the semiconductor space, On Semiconductor’s shares slumped 3% after being downgraded by Morgan Stanley, citing concerns about top-line headwinds. Conversely, WD-40 saw a 10% climb in shares on the back of stronger-than-expected fiscal third-quarter results.
Darden Restaurants, the parent company of Olive Garden, faced a 1.6% drop following a downgrade by Jefferies. Alcoa, on the other hand, experienced a 2.7% increase in shares after releasing preliminary second-quarter results that exceeded expectations.
Spotify’s stock rose nearly 2% after being upgraded by Jefferies to a buy rating, naming it a top pick in the music industry. Lastly, MicroStrategy’s shares surged over 4% following the announcement of a 10-for-1 stock split.
Stay tuned to Extreme Investor Network for more insights and analysis on the latest market movers and trends in the world of finance. Don’t miss out on valuable information that can help you make informed investment decisions and stay ahead in the ever-changing financial landscape.