The U.S. stock market jumped in Friday morning trading on a strong labor market report. The U.S. created 213,000 new jobs in June, which was higher than expected. However, the unemployment rate rose to 4% from 3.8%.
Shares of PriceSmart Inc. (PSMT, Financial) fell on Friday after the company posted third-quarter earnings per share of 61 cents on revenue of $782.2 million, representing a 7.1% year-over-year increase. The company managed to beat revenue expectations by $5.2 million, but fell 2 cents short of earnings estimates.
Net warehouse club sales rose 5.6% to $750.5 million. PriceSmart had 41 warehouse clubs in operation as of May, up from 39 locations a year ago.Â
Moreover, the company registered operating income of $28.4 million, as compared to $27.6 million in the prior year.
Gainers
- Advanced Micro Devices Inc. (AMD, Financial)
- Dish Network Corp. (DISH, Financial)
- Twitter Inc. (TWTR)
- L Brands Inc. (LB, Financial)
- Charter Communications Inc. (CHTR, Financial)
Losers
- Gap Inc. (GPS, Financial)
- Estee Lauder Companies Inc. (EL, Financial)
- Kohl's Corp. (KSS, Financial)
- Ingersoll-Rand PLC (IR, Financial)
Global markets
The main European stock markets traded in positive territory. The U.K.'s FTSE 100 advanced 0.19%, France's CAC 40 gained 0.18%, Spain's Ibex 35 inched up 0.39% and Germany's Dax rose 0.26%.
In Asia, markets closed in positive territory. Japan's Nikkei 225 gained 1.12%, India’s BSE Sensex rose 0.23%, Hong Kong's Hang Seng advanced 0.47% and China's Shanghai composite jumped 0.49%.
Disclosure: The author holds no positions in any stocks mentioned.
