US Markets
U.S. stocks traded mixed on Thursday morning after yesterday's declines.The Dow Jones Industrial Average gained 0.34% to 34,438, the S&P 500 Index jumped 0.24% to 4,206 and the Nasdaq Composite Index was up 0.22% at 13,768.
Gainers
• Ford Motor Co (F, Financial) +6%
• General Electric Co (GE, Financial) +5.8%
• Invesco Ltd (IVZ, Financial) +4.8%
• Under Armour Inc (UA, Financial) +4.9%
• DXC Technology Co (DXC, Financial) +4%
• Boeing Co (BA, Financial) +3.6%
Losers
• Eli Lilly and Co (LLY, Financial) -1.7%​
• NRG Energy Inc (NRG, Financial) -1.7%
• J M Smucker Co (SJM, Financial) -0.8%
• CVS Health Corp (CVS, Financial) -1.2%
• Exxon Mobil Corp (XOM, Financial) -1.2%
Global Markets
The main European stock markets traded mixed. The U.K.'s FTSE 100 lost 0.10%, Germany's Dax fell 0.28%, France's CAC 40 was up 0.69% and Spain's Ibex 35 slid 0.12%.
In Asia, Japan's Nikkei 225 fell 0.33%, India's BSE Sensex advanced 0.19%, Hong Kong's Hang Seng lost 0.18% and China's Shanghai Composite was up 0.43%.
Workday releases earnings report
Shares of Workday, Inc. (WDAY, Financial) traded in the red on Thursday morning, reaching $231.46 after the company posted its fiscal first-quarter results.
The company's revenue grew 15.7% year over year to $1.18 billion, beating expectations by $20 million. The company posted earnings of 87 cents per share, topping estimates of 73 cents.
Co-founder, co-CEO and chairman Aneel Bhusri had the following to say:
"It was a strong start to the year as more organizations turn to Workday to accelerate their digital transformation efforts and meet the evolving finance and workforce demands for a post-pandemic world."
The operating loss reached $38.3 million compared to an operating loss of $144.5 million in the same trimester of the past year.
The non-GAAP operating income was $288.5 million, or 24.6% of revenues, which was higher than $130.5 million, or 12.8% of revenues, in the comparable period of last year.
Further, the operating cash flows were $452.4 million, up from $263.7 million in the prior year.
The company's shares have gained 1.3% since the beginning of the year versus the S&P 500's gain of 14.1%.
Ken Fisher (Trades, Portfolio) reduced his investment in the stock by 4% to 4,101 shares, while Julian Robertson (Trades, Portfolio) cut his holdings by 15% to 12,700 shares.
Disclosure: The author holds no positions in any stocks mentioned.
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