U.S. markets are set to open high on Monday, as investors are more calm about inflation data after watching comments from two Fed officials.
Shares of Dean Foods Company (DF, Financial) lost more than 13% in premarket trading on the heels of the company posting its financial results for the fourth quarter. The company reported an annual net sales decline of 4.5% to $1.93 billion, while its profit advanced to 25 cents per share. Moreover, the results fell short analysts’ estimates by 1 cent in earnings per share and $30 million in revenue. In addition to that, the company expected full year 2018 adjusted diluted earnings per share to be between 55 and 80 cents.
CEO Ralph Scozzafava said: “As we saw the marketplace challenges on volume and mix building, we directed our focus on improving our execution in securing branded and private label volume and immediately began taking steps to lower our overall cost base. Some of these actions are already gaining momentum and contributed to our fourth quarter 2017 financial results.”
Gainers
• HP Inc. (HPQ)
• Mondelez International Inc. (MDLZ)
• Duke Energy Corp. (DUK)
• Intel Corp. (INTC)
Losers
• Mattel Inc. (MAT)
• General Electric Co. (GE)”‹
• Nordstrom Inc. (JWN)
• Chesapeake Energy Corp. (CHK)
Global Markets
The main European stock markets closed in positive territory. The U.K.'s FTSE gained 0.76%, France's CAC jumped 0.71%, Germany's Dax advanced 0.52% and Spain's Ibex rose 0.49%.
In Asia, Japan's Nikkei gained 1.19%, Hong Kong's Hang Seng advanced 0.74%, India’s BSE Sensex jumped 0.89% and China´s SSE Composite rose 1.23%.
Disclosure: The author holds no positions in any stocks mentioned.
