U.S. stocks were in the green on Monday morning, reversing losses from Friday. The Dow Jones Industrial Average gained 0.35% to 29,205, the S&P 500 index jumped 0.39% to 3,340 and the Nasdaq Composite Index advanced 0.56% to 9,573.
Non-index stocks have also posted gains and losses recently.Shares of Loews Corporation (L, Financial)gained more than 4% on Monday,after the company announces fourth-quarter results. The company posted earnings of 73 cents per share, in line with estimates. Revenue of$3.88 billion registered a 17.9% year-over-year growth.
The CNA's earnings rose to higher net investment income and net investment gains and higher current year underwriting income driven mainly by lower catastrophe losses for the Property & Casualty business, which generated gross written premium growth of 8% and net written premium growth of 6%.
Further, the book value per share rose to $65.71 at the end of 2019 from $59.34 on Dec. 31, 2018. The company repurchased 8.3 million shares of its common stock in 2018 and 21.5 million shares in 2019 at an aggregate cost of $417 million and $1.1 billion, respectively.
During the quarter ended Dec.31, T Rowe Price Equity Income Fund (Trades, Portfolio) trimmed its holding by 0.3% to 3,400,000 shares and Diamond Hill Capital (Trades, Portfolio) reduced by 6% to 2,694,901 shares.
Gainers
• McKesson Corp (MCK, Financial) +4.4%
• Abbvie Inc (ABBV, Financial) +3.2%
• Under Armour Inc (UA, Financial) +2.4%
• NVIDIA Corp (NVDA, Financial) +2.3%
• Cardinal Health Inc (CAH, Financial) +1.9%
Losers
• National Oilwell Varco Inc (NOV, Financial) -3.8%
• Cimarex Energy Co (XEC, Financial) -3%
• News Corp (NWSA, Financial) -2.6%
• Concho Resources Inc (CXO, Financial) -1.8%
• Abiomed Inc (ABMD, Financial) -1.5%
Global Markets
The main European stock markets traded in the red. The UK.'s FTSE 100 fell 0.36%, France's CAC 40 lost 0.26%, Germany's Dax declined 0.19% and Spain's Ibex 35 slid 0.03%.
In Asia, Japan's Nikkei 225 fell 0.60%, India’s BSE Sensex lost 0.39%, Hong Kong's Hang Seng declined 0.59% and China's Shanghai Composite gained 0.51%.
Disclosure: The author holds no positions in any stocks mentioned.
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