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Omar Venerio
Omar Venerio
Articles (1728) 

Wednesday Morning Market Highlights

Markets up, National Research jumps on earnings

U.S. Markets

U.S. stocks were in the green on Wednesday, with Donald Trump and Joe Biden head to head in the presidential election. The Dow gained 1.06% to 27,771, the S&P 500 index jumped 1.76% to 3,427 and the Nasdaq Composite Index was up 2.90% to 11,482.

Gainers

Losers

Global markets

The main European stock markets traded in the green.The U.K.'s FTSE 100 gained 1.01%, France's CAC 40 inched up 1.32%, Germany's Dax increased 0.95% and Spain's Ibex 35 lost 0.36%.

In Asia, Japan's Nikkei 225 gained 1.72%, India's BSE Sensex advanced 0.88%, Hong Kong's Hang Seng slid 0.21% and China's Shanghai Composite was up 0.19%.

National Research releases earnings report

Shares of National Research Corp. (NASDAQ:NRC) gained 3.5% on Wednesday morning after the company announced financial results for the third quarter. It posted earnings of 37 cents per share on revenue of $33.48 million, which grew 3.1% year over year.

Consolidated operating income was $12 million, or 36% of revenue, higher than $10.2 million, or 31% of revenue, for the prior-year quarter. Total operating expenses were $22 million, down 1%.

Moreover, direct expenses rose to $12.2 million as a result of increases in fixed expenses partially offset by lower variable expenses. However, direct expenses as a percentage of revenue decreased to 36% from 37% in third-quarter 2019.

Selling, general and administrative expenses were 24% of revenue, compared to 27% in the year-ago quarter. They decreased to $8 million from $8.7 million for the same period in 2019, principally due to lower travel and meals costs.

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

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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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