U.S. markets
U.S. stocks traded in the green on Tuesday, with the Nasdaq trading at a record high. The Dow Jones Industrial Average gained 0.20% to 33,943, the S&P 500 Index rose 0.44% to 4,243 and the Nasdaq Composite Index was up 0.53% at 14,217.
Gainers
- L Brands Inc. (LB, Financial) +5.5%
- Twitter Inc. (TWTR, Financial) +2.7%
- Welltower Inc. (WELL, Financial) +2.6%
- Live Nation Entertainment Inc. (LYV, Financial) +2.4%
- Ball Corp. (BLL, Financial) +2.5%
- Best Buy Co. Inc. (BBY, Financial) +2.3%
Losers
- Iron Mountain Inc. (IRM, Financial) -2.7%
- Evergy Inc. (EVRG, Financial) -2.3%
- Royal Caribbean Cruises Ltd. (RCL, Financial) -2.1%
- Carnival Corp. (CCL, Financial) -2.1%
- Kimco Realty Corp. (KIM) -1.9%
- Western Union Co. (WU) -1.8%
- Perrigo Company PLC (PRGO) -1.7%
Global markets
The main European stock markets traded in the green. The U.K.'s FTSE 100 gained 0.39%, Germany's Dax increased 0.21%, France's CAC 40 was up 0.14% and Spain's Ibex 35 rose 0.02%.
In Asia, Japan's Nikkei 225 gained 3.1%, India’s BSE Sensex rose 0.03%, Hong Kong's Hang Seng slid 0.63% and China's Shanghai Composite was up 0.80%.
Cognyte Software releases earnings report
Shares of Cognyte Software Ltd. (CGNT, Financial) traded in the red on Tuesday, falling 3% to $23.02 after the company posted its fiscal first-quarter results.
The company's revenue grew 12.3% year over year to $115.17 million, beating expectations by $1.3 million. The company posted earnings of 20 cents per share, topping estimates by 5 cents.
"We are pleased with our first-quarter results, which came in ahead of our expectations," CEO Elad Sharon said. "We are particularly pleased with our strong top line growth - more than 12% revenue growth - and more than 18% gross profit growth. During the quarter, we received multiple seven-digit and eight-digit orders and we continue to see strong market demand for security analytics. Following a strong start to the year, we believe we are well positioned for a strong second quarter and full year."
The gross margin reached 71.4%, up 380 basis points year over year.
Looking ahead to the quarter ending July 31, the company expects revenue to grow by 9%. It also projects diluted earnings per share of 14 cents.
The company's shares have retreated 20% since the beginning of the year versus the S&P 500's gain of 14.6%.
