U.S. stocks were in positive territory on Tuesday despite uncertainty recarding company's quarterly financial results. The Dow Jones Industrial Average rose 120 points to 24,028, the S&P 500 index gained 0.95% to 2,607 and the Nasdaq Composite Index advanced 1.61% to 7,017.
Shares of Big 5 Sporting Goods Corp. (BGFV, Financial) jumped more than 12% in Tuesday after the company announced same-store sales rose 1.1% in the fourth quarter. Net sales were $247.1 million, up from $242.9 million in the prior-year quarter.
For the full year, net sales were $987.6 million, down from $1.01 billion in fiscal 2017. Merchandise margins decreased 12 basis points.
Earnings results for the fourth quarter and full year will be reported by the end of February.
The California-based retailer projects a loss of 15 to 17 cents per share for the quarter, which is an improvement from its prior outlook of a loss of 15 cents to 25 cents per share. For the full year, it expects a loss between 8 cents and 10 cents per share.
Gainers
- Incyte Corp. (INCY, Financial)
- Edwards Lifesciences Corp. (EW, Financial)
- Fortinet Inc. (FTNT, Financial)
- Bristol-Myers Squibb Co. (BMY, Financial)
Losers
- PG&E Corp. (PCG, Financial)
- Goodyear Tire & Rubber Co. (GT, Financial)
- Albemarle Corp. (ALB, Financial)
- Masco Corp. (MAS, Financial)
- Qualcomm Inc. (QCOM, Financial)
Global markets
The main European stock markets traded higher. The U.K.'s FTSE 100 jumped 0.58%, France's CAC 40 gained 0.49%, Germany's Dax rose 0.33% and Spain's IBEX 35 swelled 0.36%.
In Asia, Japan's Nikkei 225 gained 0.96%, India’s BSE Sensex jumped 1.30%, Hong Kong's Hang Seng advanced 2.02% and China's Shanghai Composite slid 1.36%.
Disclosure: The author holds no positions in any stocks mentioned.