U.S. markets advanced on Monday morning, with energy and financial stocks leading the way. The Dow Jones Industrial Average rose 88 points, or 0.35%, to 25,359. The S&P 500 Index gained 0.26% to 2,730, and the Nasdaq Composite Index fell 0.51% to 7,317.
Shares of Ceragon Networks Ltd. (CRNT, Financial) jumped almost 10% after the company posted third-quarter earnings of 7 cents per share on revenue of $86.53 million, reflecting 13.9% year-over-year growth. The company beat earnings estimates by 3 cents and revenue expectations by $4.24 million.
Operating income was $7.9 million, compared to $5.7 million in the third quarter of 2017. The gross margin was 35.0%, slightly lower than 35.1% recorded in the same quarter of 2017.
Ira Palti, the company's president and CEO, said: "We are achieving our goal of growing net income and delivering strong cash flow, even as we continue to invest aggressively in our next generation 5G solutions, and we remain on track to attain an increase in non-GAAP net income in 2018 compared to 2017. We manage the business with net income growth as our most important metric, and our goal is to report further growth in non-GAAP net income for 2019 as well."
Gainers
• Starbucks Corp. (SBUX, Financial)
• Symantec Corp. (SYMC, Financial)
• Ulta Beauty Inc. (ULTA, Financial)
• Seagate Technology PLC (STX, Financial)
• Western Digital Corp. (WDC, Financial)
Losers
• Fortinet Inc. (FTNT, Financial)
• Kraft Heinz Co. (KHC, Financial)
• Qorvo Inc. (QRVO, Financial)
• Viacom Inc. (VIAB)
• Amgen Inc. (AMGN)
Markets
The main European stock markets traded lower. The U.K.'s FTSE 100 gained 0.35%, France's CAC 40 rose 0.17%, Germany's Dax jumped 0.08% and Spain's Ibex 35 advanced 0.73%.
In Asia, Japan's Nikkei 225 fell 1.55%, India’s BSE Sensex declined 0.17%, Hong Kong's Hang Seng dipped 2.08% and China's Shanghai Composite slipped 0.41%.
Disclosure: The author holds no positions in any stocks mentioned.
