The U.S. stock market traded in the green on Tuesday as trade tensions between the U.S. and China appear to be easing.
Shares of Dycom Industries Inc. (DY, Financial) fell on Tuesday morning after the company posted first-quarter earnings of 65 cents per share on revenue of $731.38 million, which was 7% lower than the prior-year period. The company fell short of revenue expectations by $3.48 million and earnings estimates by four cents.
Further, non-GAAP adjusted earnings before interest, taxes, depreciation and amortization reached $73.7 million, or 10.1% of contract revenues, for the quarter ended April 28, down from $108.2 million, or 13.8% of contract revenues, in the prior-year quarter.
Looking ahead, the company revised its financial guidance for fiscal 2019. It now expects contract revenues to be between $3.23 billion and $3.43 billion with diluted earnings per share of $3.81 to $4.70.
Gainers
- Micron Technology Inc. (MU, Financial)
- Campbell Soup Co. (CPB, Financial)
- Scana Corp. (SCG, Financial)
- Cimarex Energy Co. (XEC, Financial)
Losers
- AutoZone Inc. (AZO, Financial)
- Kohl's Corp. (KSS, Financial)
- Macy's Inc. (M, Financial)
- Lennar Corp.”‹ (LEN, Financial)
Global markets
The main European stock markets traded in the green.The U.K.'s FTSE 100 gained 0.23%, France's CAC 40 advanced 0.046%, Germany's Dax jumped 0.71% and Spain's Ibex 35 rose 0.72%.
In Asia, markets closed mostly higher. Japan's Nikkei 225 fell 0.18%, but China's Shanghai Composite jumped 0.02%, Hong Kong's Hang Seng advanced 0.60% and India’s BSE Sensex gained 0.10%.
Disclosure: The author holds no positions in any stocks mentioned.
