Nvidia, Delta, Alibaba, Taiwan Semi, PriceSmart, WD-40, and More Market Movers
Stock futures rose Wednesday ahead of the release of the consumer price index for March. Economists forecast the monthly pace of inflation was 0.3% last month, down from 0.4% in February.
was down 1% in premarket trading. Shares of the maker of chips used in artificial-intelligence applications declined 2% on Tuesday and entered a correction, which is defined as a pullback of at least 10% from a recent high.
shares have fallen five of the past six trading sessions but remain up 72% in 2024.
topped first-quarter earnings expectations and reported record revenue. The carrier said it expects second-quarter profit of $2.20 to $2.50 a share, compared with analysts’ estimates of $2.22. Shares of Delta were rising 4.8%.
shares traded in the U.S. were up 3.2%. The Chinese e-commerce giant’s co-founder, Jack Ma, issued a long internal memo to employees that praised Alibaba’s current leadership, acknowledged past mistakes, and struck an optimistic tone on the company’s future growth.
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U.S.-listed shares of
Taiwan Semiconductor Manufacturing
rose 0.8% as the company, a major supplier to Nvidia and
Apple
,
said revenue in the January to March quarter rose 16.5% from a year earlier to NT$592.64 billion. Taiwan Semiconductor said the revenue jump was the most in any previous quarter since 2022.
the operator of international warehouse club stores, reported a 13% jump in fiscal second-quarter revenue to $1.29 billion. Comparable net merchandise sales rose 8.8% in the period. The stock rose 4.6% in premarket trading.
Fiscal second-quarter profit at household-products company
fell from a year earlier but global net sales rose 7%. Sales rose just 1% in the Americas—which accounted for 46% of total net sales in the second quarter—but jumped 16% in Europe, India, the Middle East and Africa. WD-40 raised its fiscal-year earnings guidance, saying it now sees profit in the range of $5 to $5.30 a share, compared with prior guidance of between $4.78 and $5.15. Shares fell 2.6%.
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posted a wider-than-expected loss in its fiscal second quarter as sales fell 27% to $284.8 million and missed analysts’ estimates of $285.1 million. Shares of Smart Global, which makes computer memory and LEDs, fell 6.3% in after-hours trading Tuesday.
International Flavors & Fragrances
rose 1% to $87.23 as shares of the scents and flavors maker were upgraded to Buy from Neutral at
and the price target was raised to $100 from $81.
Write to Joe Woelfel at [email protected]
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Read More: Nvidia, Delta, Alibaba, Taiwan Semi, PriceSmart, WD-40, and More Market Movers