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Omar Venerio
Omar Venerio
Articles (1442) 

World Stocks Red Monday

OPKO Health advances on 3rd-quarter earnings and revenues

U.S. stocks retreated on Monday morning, ahead of the federal holiday. The Dow Jones Industrial Average fell almost 250 points, or 0.89% to 25,756, the S&P 500 index lost 0.81% to 2,758, and the Nasdaq Composite Index slid 1.55% to 7,285.

Shares of OPKO Health Inc. (NASDAQ:OPK) gained more than 16% on Monday after the company posted a third-quarter loss per share of 5 cents on revenue of $249.8 billion, reflecting 1.5% year-over-year growth. The company beat earnings estimates by 2 cents but fell short on revenue expectations by $14.24 million.

The costs of revenue and selling, general and administrative expenses decreased by 8%, or $19.5 million, compared to the 2017 period. R&D expenses were $30.2 million compared to $32.5 million.

Gainers

• NRG Energy Inc. (NYSE:NRG)

• Conagra Brands Inc. (NYSE:CAG)

• Coty Inc. (NYSE:COTY)

• Dominion Energy Inc. (NYSE:D)

• Xcel Energy Inc. (NASDAQ:XEL)

Losers

• Edison International (NYSE:EIX)

• Advanced Micro Devices Inc. (NASDAQ:AMD)

• Qorvo Inc. (NASDAQ:QRVO)

• General Electric Co. (NYSE:GE)

Markets

The main European stock markets traded lower. The U.K.'s FTSE 100 fell 0.40%, France's CAC 40 lost 0.63%, Germany's Dax dipped 1.50% and Spain's Ibex 35 retreated 0.26%.

In Asia, Japan's Nikkei 225 jumped 0.09%, India’s BSE Sensex lost 0.98%, Hong Kong's Hang Seng advanced 0.12% and China's Shanghai Composite rose 1.22%.

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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