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Omar Venerio
Omar Venerio
Articles (1321) 

US Markets Red Ahead of Inflation Data

The Trade Desk moves 36% higher

U.S. stock markets were trading in negative territory Friday morning, on news that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in July on a seasonally adjusted basis after rising 0.1% in June.

Shares of The Trade Desk Inc. (NASDAQ:TTDjumped more than 35% on Friday morning after the company posted second-quarter earnings for the three-month period ended June 30The company recorded earnings per share of 60 cents on revenue of $112.33 million. It beat earnings estimates by 16 centand revenue estimates by $8.31 million.

By segment, Mobile (in-app, video and web) rose 89% from the same trimester of 2017. Mobile increased to 45% of gross spend, its highest percentage ever, showing the importance of this channel to advertisers. Connected TV more than doubled from the previous quarter. Audio grew 191%, Mobile video grew 156% and Mobile in-app grew 104%.

The company expects revenue to be at least $456 million for the full year and adjusted earnings before interest, taxes, depreciation and amortization to be $140 million.

Gainers

• Advanced Micro Devices Inc. (NASDAQ:AMD)

• Carnival Corp. (NYSE:CCL)

• Evergy Inc. (NYSE:EVRG)

• Michael Kors Holdings Ltd. (NYSE:KORS)

Losers

• News Corp. (NASDAQ:NWS)

• Invesco Ltd. (NYSE:IVZ)

• BorgWarner Inc. (NYSE:BWA)

• DISH Network Corp. (NASDAQ:DISH)

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 1.33%India’s BSE Sensex fell 0.41%, Hong Kong's Hang Seng lost 0.84% and China's Shanghai Composite advanced 0.03%.

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

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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