The U.S. stock market advanced today, leaving behind fears over trade problems.
Shares of Winnebago Industries Inc. (WGO, Financial) jumped in Wednesday trading after the company posted third quarter earnings per share of $1.02 on revenue of $562.26 million. The company beat earnings estimates by 11 cents and revenue estimates by $21.67 million.
Revenues for its Motorized segment were $249.2 million, up 3.1% from the comparable period. Revenues for the Towable segment were $313.0 million, up 33.4% from the previous year, driven by strong organic growth across the Grand Design RV and Winnebago-branded product lines.
Gross profit was $85.5 million, 20.8% higher than the $70.8 million for the fiscal 2017 period. Gross profit margin was 15.2%, an increase of 30 basis points versus 14.9% last year, due to the continuation of accelerated growth in the Towable segment.
Gainers
• Twenty-First Century Fox Inc. (FOXA, Financial)
• Twitter Inc. (TWTR, Financial)
• Jefferies Financial Group Inc. (JEF, Financial)
• Apache Corp. (APA, Financial)
Losers
• Starbucks Corp. (SBUX, Financial)
• Oracle Corp. (ORCL, Financial)
• Target Corp. (TGT, Financial)
• FedEx Corp. (FDX, Financial)
• Eastman Chemical Co. (EMN)
Global markets
The main European stock markets traded mostly in positive territory. The U.K.'s FTSE jumped 0.58%, France's CAC lost 0.25%, Spain's Ibex advanced 0.54% and Germany's Dax closed up 0.04%.
In Asia, markets closed in the green. Japan's Nikkei gained 1.24%, India’s BSE Sensex advanced 0.74%,Hong Kong's Hang Seng rose 0.77% and China´s Shanghai jumped 0.27%.
Disclosure: The author holds no position in any stocks mentioned.
