U.S. markets
U.S. stocks traded in the green on Thursday, reversing the losses of the past days. The Dow Jones Industrial Average gained 0.67% to 34,121, the S&P 500 Index jumped 1.1% to 4,162 and the Nasdaq Composite Index was up 1.71% at 13,527.
Gainers
- Hormel Foods Corp. (HRL, Financial) +8.4%
- Cintas Corp. (CTAS, Financial) +1.9%
- Arista Networks Inc. (ANET, Financial) +4.3%
- Paycom Software Inc. (PAYC, Financial) +3.7%
Losers
- Ralph Lauren Corp. (RL, Financial) -7.2%
- Gap Inc. (GPS, Financial) -4.1%
- L Brands Inc. (LB, Financial) -4.1%
- PVH Corp. (PVH, Financial) -4.0%
- Delta Air Lines Inc. (DAL, Financial) -2.2%
Global markets
The main European stock markets traded in the green.The U.K.'s FTSE 100 rose 1.00%, Germany's Dax gained 1.70%, France's CAC 40 was up 1.29% and Spain's Ibex 35 inched up 0.59%.
In Asia, Japan's Nikkei 225 gained 0.19%, India's BSE Sensex retreated 0.68%, Hong Kong's Hang Seng fell 0.50% and China's Shanghai Composite was down 0.11%.
Copart releases earnings report
Shares of Copart Inc. (CPRT, Financial) gained more than 1.5% on Thursday to $123.09 after the company posted its fiscal third-quarter results.
Copart's revenue grew 33.4% year over year to $733.91million, beating expectations by $101.26 million. The company posted earnings of $1.09 per share, topping estimates of 80 cents.
The increase in gross profit was $138.7 million, or 57.2%; and an increase in net income of $139.3 million, or 94.5%, respectively.
For the nine months ended April 30, 2021, revenue, gross profit, and net income were $1.9 billion, $985.6 million, and $680.5 million, respectively.
Copart's shares have gained 2% since the beginning of the year versus the S&P 500's gain of 11%.
Joel Greenblatt (Trades, Portfolio) initiated a new 13,982-share position in the stock, while Mario Gabelli (Trades, Portfolio) boosted his holding 49% to 4,760 shares.
Disclosure: The author holds no positions in any stocks mentioned.
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