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Omar Venerio
Omar Venerio
Articles (1353) 

Stocks Green Wednesday

Signet Jewelers shares soar 15%

The U.S. market advanced Wednesday as tech and health care stocks pushed the Dow up and the Russell 2000 hit a new high.

Shares of Signet Jewelers Ltd. (NYSE:SIG) jumped in Wednesday trading after the company posted first-quarter earnings per share of 10 cents on revenue of $1.48 billion, which was 5.7% higher than the comparable period. The company beat revenue expectations by $80 million and earnings by 19 cents.

Total same store sales performance was down 0.1% when compared to the prior year quarter. Further, the gross profit was $484.8 million, or 32.7% of sales, down 230 basis points.

In the trimester, the company used $60.0 million to repurchase outstanding common stock, or 1.5 million shares, at an average price of $39.62 per share. There is still $590.6 million remaining under the current repurchase authorization.

Looking ahead, the company expects total sales for the second quarter of fiscal 2019 to be between $1.3 billion and $1.35 billion and non-GAAP diluted earnings per share to be between 5 and 20 cents.

Gainers

• Devon Energy Corp. (NYSE:DVN)

• Advanced Micro Devices Inc. (NASDAQ:AMD)

• Under Armour Inc. (NYSE:UA)

• Cigna Corp. (NYSE:CI)

Losers

• Fastenal Co. (NASDAQ:FAST)

• Delta Air Lines Inc. (NYSE:DAL)

• J M Smucker Co. (NYSE:SJM)

• Sealed Air Corp. (NYSE:SEE)

Global markets

The main European stock markets traded mostly in the red. The U.K.'s FTSE lost 0.01%, Germany's Dax retreated 0.06% and France's CAC dipped 0.54%, but Spain's Ibex jumped 0.36%.

In Asia, markets closed in the green. Japan's Nikkei rose 0.38%, China´s Shanghai advanced 0.03%, Hong Kong's Hang Seng gained 0.53% and India’s BSE Sensex inched up 0.79%.

Disclosure: The author holds no position 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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