U.S. stocks were in positive territory on Friday on the back of advances in the U.S.-China trade talks. The Dow Jones Industrial Average gained 0.74% to 25,907, the S&P 500 index rose 0.64% to 2,833 and the Nasdaq Composite Index advanced 0.77% to 7,728.
Shares of RH (RH, Financial) fell more than 20% on Friday after the company announced fourth-quarter and full-year 2018 results. Revenue grew 0.1% from the prior-year quarter to $670.89 million, falling $15.55 million short of expectations. Earnings of $3 per share beat estimates by 14 cents. Same-store sales grew 5%.
Looking ahead to fiscal 2019, the company expects adjusted net revenue between $2.585 billion and $2.635 billion, with adjusted operating margins in the range of 12.7% to 13.3%. It projects adjusted diluted earnings per share in the range of $8.41 to $9.08.
Gainers
- Carmax Inc. (KMX, Financial)
- Celgene Corp. (CELG, Financial)
- Western Digital Corp. (WDC, Financial)
- Micron Technology Inc. (MU, Financial)
- Gilead Sciences Inc. (GILD, Financial)
Losers
- PVH Corp. (PVH, Financial)
- Charter Communications Inc. (CHTR, Financial)
- Marathon Petroleum Corp. (MPC, Financial)
- Devon Energy Corp. (DVN, Financial)
Global markets
The main European stock markets closed higher. The U.K.'s FTSE 100 rose 0.62%, France's CAC 40 advanced 1.02%, Germany's Dax swelled 0.86% and Spain's IBEX 35 gained 0.72%.
In Asia, Japan's Nikkei 225 gained 0.82%, India’s BSE Sensex rose 0.33%, Hong Kong's Hang Seng advanced 0.96% and China's Shanghai Composite climbed 3.20%.
Disclosure: The author holds no positions in any stocks mentioned.
