U.S. stocks were in positive territory on Tuesday. The Dow Jones Industrial Average rose more than 120 points to 23,656, the S&P 500 index gained 0.32% to 2,557 and the Nasdaq Composite Index advanced 0.40% to 6,854.
Shares of The Meet Group Inc. (MEET, Financial) jumped more than 8% on Tuesday after the company announced preliminary fourth-quarter results. It projected revenue of $52.3 million, higher than prior revenue guidance of $47.8 million to $48.8 million. Further, adjusted earnings before interest, taxes, depreciation and amortization are expeted to be $10.3 million, up from its prior outlook of $8.7 million to $9.1 million.
“Video revenue grew in total and across each of our apps in the fourth quarter compared to the third," CEO Geoff Cook said. "We exited the year with an annualized video revenue run-rate of $71 million based on the month of December, capping a remarkable year for a product that we launched just 15 months ago”.
For the full year, the company expects revenue of $178.5 million and adjusted EBITDA of $31.8 million.
Gainers
- Mattel Inc. (MAT, Financial)
- Activision Blizzard Inc. (ATVI, Financial)
- Concho Resources Inc. (CXO, Financial)
- The Boeing Co. (BA, Financial)
Losers
- PG&E Corp. (PCG, Financial)
- Illumina Inc. (ILMN, Financial)
- Gap Inc. (GPS, Financial)
- L Brands Inc. (LB, Financial)
- Conagra Brands Inc. (CAG, Financial)
- Nvidia Corp. (NVDA, Financial)
Global markets
The main European stock markets traded higher. The U.K.'s FTSE 100 gained 0.74%, France's CAC 40 jumped 1.15%, Germany's Dax rose 0.52% up and Spain's IBEX 35 swelled 0.81%.
In Asia, Japan's Nikkei 225 gained 0.82%, India’s BSE Sensex jumped 0.36%, Hong Kong's Hang Seng advanced 0.15% and China's Shanghai Composite slid 0.26%.
Disclosure: The author holds no positions in any stocks mentioned.
