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Omar Venerio
Omar Venerio
Articles (791) 

Prominent Companies Gain, Lose in Morning Session

Stocks move more than 5%

U.S. stock index futures were gaining ground in the premarket session Friday while tensions continued between North Korea and the U.S.

With the dollar is down against most of its peers, the Dow Jones Industrial Average, the Standard & Poor's 500 and the Nasdaq Composite are all in green while gold trades at 1,288.4. The yield on a 10-year U.S. Treasury note is 2.211%.

The Trade Desk (NASDAQ:TTD) shares were up in morning trading almost 7% as the company reported better-than-expected earnings for its second quarter. EPS of 52 cents beat expectations by 33 cents and revenue of $72.8 million beat by $4.78 million with a 54.2% year-over-year increase. Guidance for next quarter is positive. The company expects revenue of $76 million and adjusted EBITDA of $21 million for the third quarter. For full-year 2017, revenue of at least $303 million, revised from $291 million, and adjusted EBITDA of $88 million, revised from $78 million, are expected.

On the other hand, shares of JCPenney Co. Inc. (NYSE:JCP) plummeted more than 16% in morning trading. The company reported a second-quarter loss of 9 cents on revenue of $3 billion. Sales increased 2.7% year over year and beats by $160 million. The company managed to come up short of earnings estimates by 4 cents.

Shares of NVIDIA Corp. (NASDAQ:NVDA) fell 5% although the company reported second-quarter EPS of $1.01 on revenue of $2.23 billion. Sales increased by 55.9% year over year and 15% from the $1.94 billion in the first quarter. The company beat revenue estimates by $270 million and earnings by 31 cents.

Top gainers

Top losers

  • Macerich Co. (NYSE:MAC).
  • AES Corp. (NYSE:AES).
  • SCANA Corp. (NYSE:SCG).
  • Brighthouse Financial Inc. (BHF).
  • Kimco Realty Corp. (KIM).
  • American Airlines Group Inc. (AAL).

Europe

The stock exchanges traded in the red zone. The FTSE 100, CAC 40 and IBEX 35 closed down around 1%; only the German DAX traded in green.

Disclosure: The author holds no position in any stock mentioned.

About the author:

Omar Venerio
Omar Venerio is capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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