Wall Street was up in Monday morning trading as more corporate earnings reports were released.
Shares of Michael Kors Holdings Ltd.(KORS, Financial) gained in premarket trading after the company reported financial results for its second quarter. EPS of $1.33 beat analysts' expectations by 50 cents and revenue of $1.15 billion beat estimates by $100 million and increased 5.5% year over year. Further, the gross profit climbed 7.2% to $690.8 million, or 60.2% of total revenue.
Chairman and CEO John D. Idol highlighted the iconic brand strengthens growth and contributes to geographic diversification. He is confident new opportunities will drive long-term growth.
Gainers
- SBA Communications Corp. (SBAC, Financial)
- Advanced Micro Devices Inc. (AMD)
- Charter Communications Inc. (CHTR, Financial)
- DISH Network Corp.”‹ (DISH)
- Crown Castle International Corp. (CCI, Financial)
- Qualcomm Inc. (QCOM)
- Mattel Inc. (MAT, Financial)
- Under Armour Inc. (UA)
Losers
- American International Group Inc. (AIG, Financial)
- Henry Schein Inc. (HSIC)
- Verizon Communications Inc. (VZ, Financial)
- Sysco Corp. (SYY)
- Patterson Companies Inc. ”‹(PDCO, Financial)
- Cardinal Health Inc. ”‹(CAH)
- IDEXX Laboratories Inc. (IDXX, Financial)
- AT&T Inc. (T, Financial)
Global markets
The main European stock markets traded mostly lower. The U.K.'s FTSE 100 gained 0.11%, but Germany's DAX lost 0.03%, France's CAC 40 declined 0.18% and Spain's IBEX 35 fell 0.29%.
In Asia, Hong Kong's Hang Seng fell 0.02%, but the other indexes were up. Japan's Nikkei 225 gained 0.04%, India’s BSE Sensex rose 0.14% and China's Shanghai Composite inched up 0.49%.
Disclosure: The author holds no positions in any stocks mentioned.
