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Omar Venerio
Omar Venerio
Articles (1398) 

US Stocks Rise on Tuesday

DSW jumps on earnings and revenue beat

Stocks were in positive territory on Tuesday morning on hopes of a better relationship between China and the U.S. The Dow Jones Industrial Average advanced 0.22% to 24,474, the S&P 500 index gained 0.45% to 2,649 and the Nasdaq Composite Index rose 0.75% to 7,073.

Shares of DSW Inc. (NYSE:DSW) gained more than 10% on Tuesday after the company posted third-quarter earnings of 70 cents per share on $833 million in revenue, reflecting 17.2% year-over-year growth. The company beat earnings estimates by 18 cents and revenue expectations by $37.56 million.

"Our investments in merchandising, marketing and talent drove continued top line momentum, with comp growth across all businesses," CEO Roger Rawlins said. "Our acquisition of Camuto Group brings powerful design and sourcing capabilities in-house and new streams of revenue from one of the leading lifestyle brands in fashion footwear”.

Looking ahead to the full year, the company raised its outlook for adjusted earnings per share to between $1.70 and $1.85 per diluted share, higher than previous range of $1.60 to $1.75.

Gainers

Losers

Global markets

The main European stock markets traded higher. The U.K.'s FTSE 100 climbed 1.77%, France's CAC 40 jumped 1.35%, Germany's Dax gained 1.49% and Spain's IBEX 35 advanced 0.87%.

In Asia, Japan's Nikkei 225 fell 0.34%, India’s BSE Sensex swelled 0.54%, Hong Kong's Hang Seng gained 0.07% and China's Shanghai Composite rose 0.37%.

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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