U.S. stock market indexes opened mixed on the last day of week. Futures for the Dow Jones Industrial Average rose 36 points to 21,822. On the other hand, the Standard & Poor’s 500 index futures lost two points to 2,462 and futures for the Nasdaq 100 index fell 26 points to 6,372. The dollar fell to the weakest level in more than two years, with the DXY index down 0.3%. Further, Mexican stocks and the peso both declined after an earthquake.
Redfin Corp. (RDFN, Financial) shares were down almost 2% in morning trading despite the company reporting in-line earnings for its second quarter. EPS reached six cents, while revenue of $104.9 million beat estimates by $12 million and grew 35% year over year. The gross profit increased 35%, reaching $37 million. The gross margin was 35%, which is the same as reported in the year-ago quarter. Further, operating expenses grew 25% to $32.7 million.
CEO Glenn Kelman attributed growth of market share to the number of people visiting the website.
“Redfin.com visitors have grown at a higher rate over each of the past three quarters than in any quarter in the last three years," Kelman said. "And more of those visitors are connecting with a Redfin agent because our technology lets those customers move faster to tour and buy homes”
Gainers
- XL Group Ltd.Ă‚ (XL, Financial)
- Marsh & McLennan Companies Inc. (MMC, Financial)
- Travelers Companies Inc. (TRV, Financial)
- Ingersoll-Rand PLC (IR, Financial)
- AbbVie Inc. (ABBV, Financial)
- Symantec Corp. (SYMC, Financial)
- Navient Corp. (NAVI, Financial)
Losers
- Equifax Inc. (EFX, Financial)
- Kroger Co. (KR, Financial)
- Range Resources Corp. (RRC)
- Freeport-McMoRan Inc. (FCX, Financial)
- Chesapeake Energy Corp. (CHK)
- Marathon Oil Corp. (MRO, Financial)
- Chipotle Mexican Grill Inc. (CMG)
Global markets
The main European stock markets were mixed. The FTSE 100 and the French CAC 40 traded lower, but the German DAX advanced 0.06% and the IBEX 35 rose 0.05%.
In Asia, Japan’s Nikkei Index and China’s Shanghai Composite were down, but Hong Kong’s Hang Seng and India´s Sensex traded higher.
Disclosure: The author holds no positions in any stocks mentioned.
