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Omar Venerio
Omar Venerio
Articles (1720) 

Wall Street Ends the Week Higher

RH reports quarterly results

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 (NYSE:RH) 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.



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.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor and Area Head of Finance. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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