Wall Street was down in Monday premarket trading, continuing the losses from last week, but rose into the green after the market opened.
Shares of Chinese e-commerce company JD.com Inc. (JD, Financial) jumped more than 7% in premarket trading after reporting financial results for the third quarter. The company posted a net profit of 1 billion yuan ($151 million), beating estimates of a 21 million yuan loss. Revenue of 83.8 billion yuan beat expectations of 83.6 billion yuan and increased 37.9% year over year.
Gross profit for the period was 13 billion yuan, inching up more than half from the comparable quarter of 2016. Further, non-GAAP gross profit was 12.8 billion yuan.
“We are achieving our mission of bringing China’s consumers the widest selection of top brands and, by far, the highest quality e-commerce experience,” Chairman and CEO Richard Liu said.Â
Moveover, Chief Fincanical Officer Sidney Huang said the company is “very encouraged to see another quarter of solid top-line growth with record profitability."
Gainers
- News Corp. (NWS, Financial)
- Mattel Inc. (MAT, Financial)
- Campbell Soup Co. (CPB, Financial)
- Envision Healthcare Corp.Ă‚ (EVHC)
- Thermo Fisher Scientific Inc.Ă‚ (TMO)
- Coty Inc.Ă‚ (COTY, Financial)
Losers
- Johnson Controls International PLC (JCI, Financial)
- Nvidia Corp.”‹Â (NVDA)
- Kohl's Corp.Ă‚ (KSS)
- Under Armour Inc.Ă‚ (UAA, Financial)
- Time Warner Inc.Ă‚ (TWX)
- Henry Schein Inc. (HSIC)
- Cardinal Health Inc.”‹ (CAH, Financial)
- National Oilwell Varco Inc. (NOV, Financial)
Global markets
The main European stock markets traded lower. The U.K.'s FTSE 100 lost 0.24%, Germany's DAX fell 0.40%, France's CAC 40 declined 0.73% and Spain's IBEX slipped 0.42%.
In Asia, Japan's Nikkei 225 slid 1.32% and India’s BSE Sensex declined 0.84%, while China's SSE Composite gained 0.44% and Hong Kong's Hang Seng inched up 0.21%.
Disclosure: The author holds no positions in any stocks mentioned.
