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Omar Venerio
Omar Venerio
Articles (1197) 

US Stock Market Opens High on Tuesday

HD Supply Holdings jumps on financial results

March 13, 2018

U.S. markets are in positive territory in Tuesday pre-market trading on consumer inflation data. The consumer price index rose 0.2% in February, led by the cost of housing and the price of clothes and auto insurance. The figure was in line with expectations. Over the past 12 months, the CPI accumulated a 2.2% increase.

Shares of HD Supply Holdings Inc. (HDS) rose on the heels of the company reporting its financial results for the fourth quarter. The company posted an adjusted earnings per share of 49 cents. The company’s revenue reached $1.18 billion, an increase of 8.3% from the fourth quarter of 2016. Moreover, the company beat analysts' estimations by 5 cents in earnings per share and $20 million in revenue.

For the trimester, gross profit increased $37 million, or 8.6%, to $468 million, higher than the $431 million for the fourth quarter of fiscal 2016. Gross profit represented 39.6% of net sales. The operating income increased $15 million, or 14.7%, to $117 million, higher than the $102 million for the fourth quarter of fiscal 2016. Operating income was 9.9% of net sales.

For the full year, the gross profit increased $108 million, or 5.6%, to $2.03 billion for the full-year of fiscal 2017, higher than the $1.93 billion for the full-year of fiscal 2016. Gross profit reached 39.7% of net sales.

Moreover, operating income increased $43 million, or 7.6%, to $608 million for the full-year of fiscal 2017 as compared to $565 million for the full-year of fiscal 2016. Operating income as a percentage of net sales was 11.9% percent for the full-year of fiscal 2017, up approximately 20 basis points from 11.7% for the full-year of fiscal 2016.

Gainers

Micron Technology (MU)

Kohls Corp. (KSS)

Intel Corp. (INTC)

Ulta Beauty (ULTA)

Losers

General Electric (GE)

Davita Inc. (DVA)

Mattel Inc. (MAT)

Cooper Companies (COO)

Global markets

The main European stock markets closed mixed. The U.K.'s FTSE lost 0.42%, France's CAC fell 0.01%, Germany's Dax slid 0.57% but Spain's Ibex advanced 0.23%.

In Asia, India’s BSE Sensex lost 0.83% and China´s SSE Composite fell 0.49%, but Japan's Nikkei advanced 0.66% and Hong Kong's Hang Seng jumped 0.02%.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a 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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