Disney shares advance as Iger extends CEO tenure, Viasat shares plunge on satellite issues, Delta sees robust demand — and more stocks on the move

By MarketWatch

Delta Air Lines shares put 2-year high on Friday itinerary

Here are some of the biggest movers of the day:

Stock gainers:

Delta Air Lines Inc. shares (DAL) were on the rise toward a two-year high as the passenger carrier credited robust consumer travel demand as it posted earnings that exceeded Wall Street's consensus forecast and lifted its financial estimates for the ongoing quarter.

PepsiCo Inc.'s stock (PEP) rose 2.2% after the drinks and snacks giants topped estimates for the second quarter and raised its guidance for a second straight quarter.

Hycroft Mining Holding Corp.'s stock (HYMC) rallied 13.4% after the Nevada-based gold and silver mine in which cinema operator AMC Entertainment Holdings Corp.(AMC) famously owns a stake, said it has hired ShareIntel to review alleged illegal trading of its stock

Perrigo Co. PLC's stock (PRGO) rose 0.6% after the U.S. Food and Drug Administration approved its over-the-counter daily oral contraceptive, making it the first birth-control pill to be available without a prescription.

Shares of Affirm Holdings Inc. (AFRM) were rising more than 9% in Thursday's midday action after Barclays analyst Ramsey El-Assal boosted his price target on the buy-now-pay-later stock to $19 from $16.

The Walt Disney Co.'s stock (DIS) rose 0.3%. The company's board extended Chief Executive Bob Iger's contract for two more years through December 2026

Stock decliners:

ViaSat Inc. shares (VSAT) were moving more than 29% lower after the communications company disclosed an issue with one of its satellites that could materially impact its performance.

ProgressiveCorp.'s stock (PGR) fell more than 12% to lead S&P 500 decliners, after the insurer posted second-quarter earnings that lagged expectations.

Exxon Mobil Corp.'s stock (XOM) was down more than 2%, after it announced an agreement to buy the Texas-based carbon-capture company Denbury Inc. (DEN) for a relatively small premium, in an all-stock deal valued at $4.9 billion. Denbury's stock slumped 1.9%.

3D Systems Inc.'s stock (DDD) slid 1.9% after it sweetened its offer for Stratasys Ltd.(SSYS) in the latest move in a three-way battle for the company against rival Nano Dimension Ltd.(NNDM) .

Carvana Co.'s stock (CVNA) fell Thursday, following a stunning rally this year, after J.P. Morgan's Rajat Gupta recommended investors sell because the stock has "disconnected materially" from fundamentals again.

-MarketWatch

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

07-13-23 1432ET

Copyright (c) 2023 Dow Jones & Company, Inc.