U.S. stock markets were trading in positive territory Thursday morning, with the S&P 500 near record levels in a scenario of solid corporate results.
Shares of Sunoco LP (SUN, Financial) rose more than 4.5% on Thursday morning after the company posted second-quarter earnings for the three-month period ended June 30, 2018.The company recorded earnings per share of 58 cents on revenue of $4.6 billion. It beat earnings estimates by 4cents and revenue estimates by $570 million.
Total gross profit rose to $310 million, compared to $259 million in the same quarter of 2017, due to higher motor fuel gross profits. Income from continuing operations was $94 million versus a loss of $29 million in the comparable period. Further, the adjusted earnings before interest, taxes, depreciation and amortization for the quarter totaled $140 million, compared with $220 million in the second quarter of 2017.
Gainers
• CenturyLink Inc. (CTL, Financial)
• Monster Beverage Corp. (MNST, Financial)
• L Brands Inc. ”‹(LB, Financial)
• Newell Brands Inc. (NWL, Financial)
• Michael Kors Holdings Ltd. (KORS, Financial)
Losers
• Cimarex Energy Co. (XEC, Financial)
• Apache Corp. (APA, Financial)
• Seagate Technology PLC (STX, Financial)
• Occidental Petroleum Corp. (OXY, Financial)
• Deere & Co. (DE, Financial)
Global markets
The main European stock markets traded mostly in the red. The U.K.'s FTSE 100 retreated 0.54%, France's CAC 40 fell 0.15%, Germany's Dax rose 0.26% and Spain's Ibex 35 swelled 0.21%.
In Asia, Japan's Nikkei 225 slid 0.20%, India’s BSE Sensex jumped 0.36%, Hong Kong's Hang Seng gained 0.88% and China's Shanghai Composite advanced 1.83%.
Disclosure: The author holds no positions in any stocks mentioned.
