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. (TTD, Financial) jumped more than 35% on Friday morning after the company posted second-quarter earnings for the three-month period ended June 30. The company recorded earnings per share of 60 cents on revenue of $112.33 million. It beat earnings estimates by 16 cents and 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. (AMD, Financial)
• Carnival Corp. (CCL, Financial)
• Evergy Inc. (EVRG, Financial)
• Michael Kors Holdings Ltd. (KORS, Financial)
Losers
• News Corp. (NWS, Financial)
• Invesco Ltd. (IVZ, Financial)
• BorgWarner Inc. (BWA, Financial)
• DISH Network Corp. (DISH, 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 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.
