Wall Street was up in Wednesday premarket trading ahead of the Federal Reserve's announcement on interest rates and monetary policy later today.
Shares of The Estée Lauder Companies Inc. (EL, Financial) were up in premarket trading. The company reported financial results for its first quarter. EPS of $1.21 beat expectations by 24 cents and revenue of $3.27 billion beat estimates by $100 million and increased 13.9% year over year. The company generated strong sales growth in Europe, the Middle East and Africa region, particularly Italy, the Balkans and India. In Asia Pacific, sales had a strong increase due to double-digit growth in China and Hong Kong.Â
Gainers
- Verisk Analytics Inc. (VRSK, Financial)
- Devon Energy Corp. (DVN)
- Concho Resources Inc. (CXO, Financial)
- Freeport-McMoRan Inc. (FCX)
- Marathon Oil Corp. (MRO, Financial)
- Chesapeake Energy Corp. ”‹(CHK)
- Garmin Ltd. (GRMN, Financial)
Losers
- Envision Healthcare Corp. ”‹(EVHC)
- Fiserv Inc. (FISV)
- Zimmer Biomet Holdings Inc. (ZBH, Financial)
- Electronic Arts Inc. (EA)
- CenturyLink Inc. (CTL, Financial)
- HanesBrands Inc. (HBI)
- Under Armour Inc. (UA, Financial)
Global markets
The main European stock markets traded mostly higher. The U.K.'s FTSE 100 gained 0.05%, France's CAC 40 rose 0.28% and Germany's DAX climbed 1.83%. Spain's IBEX 35 fell 0.25%.
In Asia, Japan's Nikkei 225 gained 1.86%, India’s BSE Sensex rose 1.17%, Hong Kong's Hang Seng jumped 1.23% and China's Shanghai Composite was up 0.08%.
Disclosure: The author holds no positions in any stocks mentioned.
