U.S. markets are in positive territory on Wednesday, with the Dow Jones Industrial Average soaring more than 200 points, fueled by giants like Walmart (WMT, Financial) and Goldman Sachs (GS, Financial).
Shares of RH (RH, Financial) rose on the heels of the company reporting its financial results for the fourth quarter. The luxury furniture retailer posted adjusted earnings per share of $1.69 on $669.7 million in revenue, an increase of 13.5% from the prior-year quarter.The company managed to beat earnings estimates by 14 cents, but fell short of revenue expectations by $2.91 million.
Looking ahead, the company is more conservative about revenue growth, with the adjusted operating margin to be between 9.2% and 10.2% and adjusted gross margin to increase 260 to 340 basis points. Further, it expects adjusted net income in the range of $145 million to $165 million, an increase of 63% to 85% from a year ago and higher than the previous guidance of $125 million to $145 million.
Gainers
- Allergan PLC (AGN, Financial)
- Macy's Inc. (M, Financial)
- CVS Health Corp. (CVS, Financial)
- Church & Dwight Co. Inc. (CHD, Financial)
Losers
- Red Hat Inc. (RHT, Financial)
- Occidental Petroleum Corp. (OXY, Financial)
- Freeport-McMoRan Inc. (FCX, Financial)
- SCANA Corp. (SCG, Financial)
Global markets
The main European stock markets closed mostly higher. The U.K.'s FTSE 100 gained 0.64%, France's CAC 40 advanced 0.29%, Germany's Dax fell 0.25% and Spain's Ibex 35 rose 0.86%.
In Asia, India’s BSE Sensex lost 0.62%, China's SSE Composite slid 1.40%, Hong Kong's Hang Seng retreated 2.50% and Japan's Nikkei 225 fell 1.34%.
Disclosure: The author holds no positions in any stocks mentioned.