The U.S. stock market opened higher, with the three main indexes in green. Regardless, some stocks have displayed strong downward movements.
Shares of Dollar General Corp. (DG, Financial) were down almost 5% in morning trading on the back of the company reporting earnings for its second quarter. EPS of $1.10 missed expectations by one cent, but revenue of $5.83 billion beat estimates of $5.8 billion and increased 8.2% year over year.
Ciena Corp. (CIEN, Financial) lost almost 10% after posting financial results for its fiscal third quarter. The company reported revenue of $728.7 million, a 9% increase year over year. Net income was $60 million, or 39 cents per diluted share. On a GAAP basis, net income was $33.5 million, or 23 cents per diluted share. The company's adjusted (non-GAAP) net income was $81 million, or 51 cents per diluted share, which compares to an adjusted (non-GAAP) net income of $67.6 million, or 42 cents per common share.
Shares of Campbell Soup Co. (CPB, Financial) fell more than 4% as the company posted fourth-quarter EPS of 52 cents on revenue of $1.66 billion, coming short of profit estimates by three cents and revenue estimates by $30 million.
Gainers
FMC Corp. (FMC, Financial), Advanced Micro Devices Inc. (AMD, Financial), Expedia Inc. (EXPE, Financial) and Wynn Resorts Ltd. (WYNN, Financial).
Losers
SteadyMed Ltd. (STDY, Financial), root9B Holdings Inc. (RTNB, Financial), Dollar General and The Kroger Co. (KR, Financial).
Global markets
The main European stock markets traded higher. The FTSE 100, German DAX, French CAC 40 and the IBEX 35 advanced approximately 1%.
In Asia, Japan’s Nikkei Index and India’s BSE Sensex closed up. Hong Kong’s Hang Seng and China’s Shanghai Composite Index traded lower.
Disclosure: The author holds no positions in any stocks mentioned.
