Despite the biggest increase in household buying since 2011, U.S. stock markets are set to open in the red on Monday. Consumer spending climbed 0.4% the past month, due to bigger incomes, which rose 0.4% in December and registered a total of 3.1% for the full year.
Shares of Seagate Technology Plc (STX, Financial) gained ground on premarket Monday session on the back of the company providing financial results for its second quarter ended Dec. 29. The company posted adjusted earnings per share of $1.48 on revenue of $2.91 billion. Earnings beat estimations by 13 cents and revenue also beats by $50 million. Revenue growth was 0.7% year-over-year. Further, on a non-GAAP basis, the company reported gross margin of 30.4%, $850 million in cash flow from operations and $773 million in free cash flow.
Moreover, the board of directors approved a quarterly cash dividend of $63 cents per share.
Gainers
• Advanced Micro Devices Inc. (AMD, Financial)
• Gilead Sciences Inc. (GILD, Financial)
• Laboratory Corporation of America Holdings (LH, Financial)
Losers
• Wynn Resorts Ltd. (WYNN, Financial)
• Kimco Realty Corp. (KIM, Financial)
• Comcast Corp. (CMCSA, Financial)
Global markets
The main European stock markets traded in the green. The U.K.'s FTSE rose 0.09%, France's CAC climbed 0.11% and Germany's Dax was up 0.02%, while Spain's Ibex lost 0.37%.
In Asia, Japan's Nikkei lost 0.01%, Hong Kong's Hang Seng slid 0.56%, China´s SSE Composite retreated 0.99% while India’s BSE Sensex advanced 0.65%.
Disclosure: The author holds no positions in any stocks mentioned.
