U.S. stock markets were higher in morning trading Tuesday, ahead of a positive report that the consumer confidence index rose to 127.4 in July from a revised 127.1 in the previous month.
Shares of Illumina Inc. (ILMN, Financial) rose on Tuesday morning more than 5% after the company posted second-quarter earnings. The company recorded earnings per share of $1.43 on revenue of $830 million. The company beat earnings estimates by 32 cents, and revenue by $43.44 million.
Gross margin in the second quarter of 2018 was 69.3% compared to 65.5% in the prior year period. Excluding amortization of acquired intangible assets, non-GAAP gross margin was 70.3%, higher than the 67.0% of the prior year period
The company expects for fiscal 2018 revenue growth of 20%, GAAP earnings per diluted share between $5.10 and $5.20 and non-GAAP earnings per diluted share of $5.35 to $5.45.
Gainers
• Xylem Inc. (XYL, Financial)
• Illumina Inc. (ILMN, Financial)
• Ralph Lauren Corp. (RL, Financial)
• Eaton Corporation PLC (ETN, Financial)”‹
Losers
• Chipotle Mexican Grill Inc. (CMG, Financial)
• Vulcan Materials Co. (VMC, Financial)
• Everest Re Group Ltd. (RE, Financial)
• Advanced Micro Devices Inc. (AMD, Financial)
• Cimarex Energy Co.”‹ (XEC, Financial)
Global markets
The main European stock markets traded in the green. The U.K.'s FTSE 100 advanced 0.80%, France's CAC 40 rose 0.36%, Germany's Dax slid 0.02% and Spain's Ibex 35 jumped 0.38%.
In Asia, markets closed in positive territory. Japan's Nikkei 225 rose 0.04%, India’s BSE Sensex gained 0.30%, Hong Kong's Hang Seng fell 0.52% and China's Shanghai Composite jumped 0.26%.
Disclosure: The author holds no positions in any stocks mentioned.
