U.S. stocks traded mixed on Monday, with investors looking at the risks of a higher inflation. The Dow rose 0.64% to 34,995, the S&P 500 Index retreated 0.13% to 4,227 and the Nasdaq Composite Index was down 1.47% to 13,549.
- Viatris Inc. (VTRS, Financial) +9.4%
- EOG Resources Inc. (EOG, Financial) +2.6%
- Conagra Brands Inc. (CAG, Financial) +1.1%
- Whirpool Corp. (WHR, Financial) +0.80%
- Kellogg Co. (K, Financial) +1.8%
- Qorvo Inc. (QRVO, Financial) -6.4%
- Micron Technology Inc. (MU, Financial) -5.3%
- Wyndham Hotels & Resorts Inc. (WH, Financial) -0.4%
- Albemarle Corp. (ALB, Financial) -0.1%
The main European stock markets traded in mostly higher. The U.K.'s FTSE 100 retreated 0.08%, Germany's Dax was flat, France's CAC 40 rose 0.01% and Spain's Ibex 35 gained 0.94%.
In Asia, Japan's Nikkei 225 gained 0.55%, India's BSE Sensex added 0.60%, Hong Kong's Hang Seng retreated 0.05% and China's Shanghai Composite was up 0.27%.
Weibo releases earnings report
Revenue grew 42% year over year to $458.9 million. It posted earnings of 57 cents per share, beating analysts' estimates by 9 cents.
CEO Gaofei Wang had the following to say:
"Weibo's user base and engagement continued to grow from prior quarter, leveraging our effective channel investments, enriched video offerings and our strength in social distribution and hot trends. On the monetization front, we are glad to see broad-based year-over-year growth across industries and robust momentum with certain differentiated ad products, demonstrating our competitiveness in fulfilling advertiser's increasing brand plus performance needs."
Advertising and marketing revenue reached $390 million, up 42% compared to $275.4 million for the same quarter of last year.
The number of monthly active users was 530 million in March, a decrease of 4% year over year and an increase of 2% quarter over quarter. Mobile monthly active users represented 94% of total monthly active users. Also, the number of average daily active users was 230 million in March, down 5% year over year and up 2% quarter over quarter.
Moreover, the company achieved income from operations of $108.6 million, representing an operating margin of 24%.
Weibo shares have advanced about 15% since the beginning of the year versus the S&P 500's gain of 14.4%.
Disclosure: The author holds no positions in any stocks mentioned.
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