1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
ovenerio
Omar Venerio
Articles (1321) 

US Stocks Green on Thursday

Herman Miller reports first-quarter financial data

U.S. stocks gained on Thursday morning with the S&P 500 and the Dow Jones Industrial Average rising to record highs as trade war fears eased. 

The rally was also supported by strong labor market data. The number of Americans filing for unemployment benefits fell last week, hitting near a 49-year low. Initial claims for state unemployment benefits fell by 3,000 to a seasonally adjusted level of 201,000 for the week ended Sept. 15, according to the Labor Department.

Shares of Herman Miller Inc. (NASDAQ:MLHR) jumped more than 6% on Thursday morning after the company posted adjusted first-quarter earnings of 69 cents per share on $624.6 million in revenue, reflecting a 7.6% year-over-year growth. The company beat revenue expectations by $3.87 million and earnings estimates by 4 cents.

The consolidated gross margin was 36.0%, down 140 basis points from the prior-year quarter. Operating expenses were $178 million, up from $165.7 million a year ago.

Looking ahead, the company expects second-quarter net sales to be between $635 million and $655 million. It projects adjusted diluted earnings per share to range between 70 cents and 74 cents.

Gainers

Losers

Global markets

The main European stock markets traded higher. The U.K.'s FTSE 100 gained 0.49%, France's CAC 40 jumped 1.07%, Germany's Dax advanced 0.88% and Spain's IBEX 35 rose 1.03%.

In Asia, Japan's Nikkei 225 gained 0.01%, India’s BSE Sensex fell 0.45%, Hong Kong's Hang Seng advanced 0.26% and China's Shanghai Composite slid 0.06%.

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.

Rating: 0.0/5 (0 votes)

Comments

Please leave your comment:


Performances of the stocks mentioned by Omar Venerio


User Generated Screeners


dwulchscreen92218
merknt84my104
merknt84my103
merknt84my102
merknt84my101
ConnorMFern ExUS&OTC
bursaguru5Charles2
billaw123roe
ripollj67CheapFCF
careerabhiAbhimultipleBook
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}
FEEDBACK