US Stocks High on Monday

Bermuda-based company jumps on earnings

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Jul 09, 2018
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The U.S. stock market jumped today in morning trading, ahead of news that showed a strong labor market.

Shares of Helen of Troy Ltd. (HELE, Financial) jumped in Monday trading after the company posted first quarter earnings per share of $1.87 on revenue of $354.68 million, representing a decline of 1.4% year-over-year. The company managed to beat revenue estimates by $20.93 million and earnings by 41 cents.

CEO Julien Mininberg said: ā€œWe continue to see excellent momentum in the business, which led to a strong performance and a great start to our new fiscal year. Our strategic choices and ongoing productivity enhancements from the transformation plan are generating healthy results, with consolidated net sales increasing 9.0% and adjusted diluted EPS from continuing operations growing 32.6%.ā€

Consolidated gross profit margin increased 0.9 percentage points to 41.3% compared to 40.4%, driven by a favorable product mix, growth in the Brands segment and the favorable impact of net foreign currency.

Adjusted Ebitda increased 28.6% to $59.4 million compared to $46.2 million in the same trimester a year ago.

Gainers

Ā· Xerox Corp. (XRX, Financial)

Ā· Wynn Resorts Ltd. (WYNN, Financial)

Ā· Caterpillar Inc. (CAT, Financial)

Ā· Deere & Co. (DE, Financial)

Losers

Ā· Twitter Inc. (TWTR, Financial)

Ā· Under Armour Inc. (UA, Financial)

Ā· Nordstrom Inc. (JWN, Financial)

Ā· Gap Inc. (GPS, Financial)

Ā· Tapestry Inc. (TPR, Financial)

Global markets

The main European stock markets traded in positive territory. The U.K.'s FTSE advanced 0.30%, France's CAC gained 0.25%, Spain's Ibex inched up 0.22% and Germany's Dax closed up 0.16%.

In Asia, markets closed in positive ground. Japan's Nikkei gained 1.21%, Indiaā€™s BSE Sensex rose 0.78%, Hong Kong's Hang Seng advanced 1.32% and ChinaĀ“s Shanghai jumped 2.47%.

Disclosure: The author holds no position in any stocks mentioned.