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ovenerio
Omar Venerio
Articles (1681) 

Monday Morning Market Highlights

World stocks up, Autohome falls on earnings report

US markets

U.S. stocks were in the green on Monday morning despite increased tensions between the U.S. and China.The Dow Jones Industrial Average gained 0.23% to 25,441, the S&P 500 index rose 0.23% to 3,051 and the Nasdaq Composite Index was up 0.48% to 9,535.

Gainers

• Coty Inc (NYSE:COTY) +19.4%

• Gap Inc (NYSE:GPS) +14.6%

• Alliance Data Systems Corp (NYSE:ADS) +9.9%

• Southwest Airlines Co (NYSE:LUV) +6.6%

• Kimco Realty Corp (NYSE:KIM) +6.3%

• Harley-Davidson Inc (NYSE:HOG) +5.9%

Losers

• Pfizer Inc (NYSE:PFE) -8.2%

• Cabot Oil & Gas Corp (NYSE:COG) -2.9%

• Target Corp (NYSE:TGT) -2.5%

• Deere & Co (NYSE:DE) -1%

• Chubb Ltd (NYSE:CB) -1.6%

Global markets

The main European stock markets traded in the green.The UK's FTSE 100 gained 1.23%, France's CAC 40 advanced 1.43%, Germany's Dax swelled 1.65% and Spain's Ibex 35 increased 1.74%.

In Asia, Japan's Nikkei 225 gained 0.84%, India’s BSE Sensex jumped 2.71%, Hong Kong's Hang Seng rose 3.36% and China's Shanghai Composite was up 2.21%.

Autohome releases earnings report

Shares of Autohome Inc. (NYSE:ATHM) fell 2.5% on Monday after the company announced its first-quarter 2020 results. The company posted earnings per share of 76 cents, beating analysts’ estimates by 1 cent. Revenue of $218.43 million declined 9.1% year-over-year and beat predictions by $440,000.

CEO Min Lu had the following to say:

"We kicked off 2020 with a solid first quarter, reporting revenue of RMB1.55 billion. During the quarter, we witnessed an increasing demand for online marketing services as automakers and dealers shifted their focus from offline to online channels. To capitalize on this trend, we introduced a suite of data products and tools that enhance the efficiency and effectiveness of online marketing programs for our customers. In addition, we launched the spring virtual auto show, providing access to the event to a much broader consumer audience as well as automobile enthusiasts. These efforts and initiatives result in an increase in the customer base for our data products. With 2020 well underway, I am confident in our ability to maintain our undisputed market leadership given our well-defined long-term strategic plan and sharp focus on delivering value to both our customers and the auto industry."

In the trimester, net revenues were 1,546.6 million Renminbi ($218.4 million) compared to ¥1,611.9 million in the same quarter of 2019. Media services revenues were ¥566.3 million, down from ¥643.2 million in the first quarter of 2019. Leads generation services revenues were ¥670.5 million compared to ¥734.1 million in the same period of 2019. Online marketplace and others revenues rose 32.1% to ¥309.9 million from ¥234.6 million.

Looking ahead the second quarter, the company expects net revenues in the range of ¥2.22 billion to ¥2.32 billion.

Ray Dalio (Trades, Portfolio) reduced his holding in Autohome by 15% to 40,874 shares.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor and Area Head of Finance. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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