U.S. stocks retreated on Tuesday morning, with the Dow Jones Industrial Average falling more than 500 points to 24,494, the S&P 500 index losing 1.84% to 2,641, and the Nasdaq Composite Index dipping 2.40% to 6,860.
Shares of Agilent Technologies Inc. (A, Financial) fell more than 3% on Tuesday morning after the company posted fourth-quarter earnings per share of 81 cents, on revenue of $1.29 billion, reflecting a 8.4% year-over-year growth. The company beat earnings estimates by 7 cents and revenue expectations by $30 million.
By segments, Agilent´s CrossLab Group reported fourth-quarter revenue of $441 million, reflecting 9% growth. The operating margin in the trimester was 24.7%. Fourth-quarter revenue from Agilent’s Diagnostics and Genomics Group was $256 million, up 9%. The operating margin for the quarter was 23.3%.
For the full-year, Agilent´s CrossLab Group revenue reached $1.7 billion, an 11% increase, with an operating margin for the year of 23.3%. For Agilent’s Diagnostics and Genomics Group, full-year revenue was $943 million, a 10% increase. The operating margin for the year was 18.9%.
Looking ahead to the fiscal year 2019, revenue is expected to be between $5.13 billion and $5.17 billion. Also, it expects Non-GAAP earnings in the range of $3.00 to $3.05 per share.
Gainers
• Campbell Soup Co.”‹ (CPB, Financial)
• Medtronic PLC (MDT, Financial)
• General Mills Inc. (GIS, Financial)
• Philip Morris International Inc. (PM, Financial)
• Verizon Communications Inc. (VZ, Financial)
Losers
• Kohls Corp. (KSS, Financial)
• Target Corp. (TGT, Financial)
• Advanced Micro Devices Inc. (AMD, Financial)
• Lowe's Companies Inc. (LOW, Financial)
• Abiomed Inc. (ABMD, Financial)
Markets
The main European stock markets traded lower. The U.K.'s FTSE 100 fell 0.81%, France's CAC 40 slipped1.29%, Germany's Dax slid 1.58% and Spain's Ibex 35 was down 1.56%.
In Asia, Japan's Nikkei 225 lost 1.09%, India’s BSE Sensex fell 0.84%, Hong Kong's Hang Seng retreated 2.02% and China's Shanghai Composite dipped 2.13%.
Disclosure: The author holds no positions in any stocks mentioned.
