U.S. stocks were in negative territory on Friday, closing the week with a drop about 5%. The Dow Jones Industrial Average jumped more than 150 points to 23,026, the S&P 500 index gained 0.64% to 2,483, and the Nasdaq Composite Index declined 0.01% to 6,527.
Shares of CalAmp Corp. (CAMP, Financial) fell almost 9% on Friday pre-market trading, after the company posted third-quarter earnings of 25 cents per share, on revenue of $88.49 million, reflecting a 5.5% year-over-year decline. The company fell short 3 cents in earnings estimates and $5.0 million in revenue expectations.
Telematics Systems revenue reached $68.6 million, a 12% year-over-year decline, due to less legacy LoJackSVR product sales. The Software & Subscription Services revenue was $19.9 million, more than a fifth of consolidated revenue.
Further, the gross margin was 41.1%, 30 basis points higher than in the prior year. The operating cash flow was $11.3 million, adjusted Ebitda was $11.4 million and adjusted Ebitda margin was 13%.
Gainers
• Activision Blizzard Inc. (ATVI, Financial)
• Seagate Technology PLC (STX, Financial)
• Xcel Energy Inc. (XEL, Financial)
• J B Hunt Transport Services Inc. (JBHT, Financial)
Losers
• News Corp. (NWSA, Financial)
• Discovery Inc. (DISCA, Financial)
• Illumina Inc. (ILMN, Financial)
• News Corp. (NWS, Financial)
• TripAdvisor Inc. (TRIP, Financial)
Global markets
The main European stock markets traded lower. The U.K.'s FTSE 100 fell 0.24%, France's CAC 40 dipped 0.39%, Germany's Dax closed 0.11% down and Spain's Ibex 35 tumbled 0.82%.
In Asia, Japan's Nikkei 225 fell 1.11%, India’s BSE Sensex lost 1.89%, Hong Kong's Hang Seng gained 0.51% and China's Shanghai Composite slid 0.79%.
Disclosure: The author holds no positions in any stocks mentioned.
