U.S. stock market indexes were in the green after oil prices climbed to more than $70 a barrel for the first time since 2014.
Shares of International Flavors & Fragrances Inc. (IFF, Financial) fell in Monday trading after the company posted earnings per share of $1.69 in the first quarter on revenue of $930.93 million, which increased 12.4% from the prior-year quarter. The company beat revenue expectations by $19.66 million and earnings estimates by 10 cents.
Further, the operating profit for the first quarter was $175 million versus $130 million in 2017, an increase of 34%.
“Cost and productivity initiatives continued to play an integral role in our ability to invest in the business while delivering robust profit growth," Chairman and CEO Andreas Fibig said. "Through the combination of these initiatives, as well as our strong sales growth, we delivered double-digit operating profit and EPS growth.”
Gainers
- Illumina Inc. (ILMN, Financial)
- Nvidia Corp.”‹ (NVDA, Financial)
- Marathon Oil Corp. (MRO, Financial)
- EQT Corp. (EQT, Financial)
Losers
- Kohl's Corp. (KSS, Financial)
- Macy's Inc. (M, Financial)
- Foot Locker Inc. (FL, Financial)
- Celgene Corp. (CELG, Financial)
Global markets
The main European stock markets traded higher. The U.K.'s FTSE 100 gained 0.86%, France's CAC 40 jumped 0.28%, Spain's Ibex 35 advanced 0.36% and Germany's Dax inched up 1.00%
In Asia, markets closed mostly in the green. China's Shanghai composite climbed 1.48%, Japan's Nikkei 225 lost 0.03%, Hong Kong's Hang Seng advanced 0.23% and India’s BSE Sensex gained 0.84%.
Disclosure: The author holds no positions in any stocks mentioned.
