U.S. stocks advanced on Monday, with about a quarter of the S&P 500 companies reporting their results.
Health services (up 16.5%), commercial (up 10%) and tech (up 8.2%) were the sectors with largest gains. The Dow Jones Industrial Average fell 0.03% to 27,146, the S&P 500 index gained 0.18% to 2,982, and the Nasdaq Composite Index rose 0.58% to 8,193.
Halliburton Co. (HAL, Financial) gained more than 7% after announcing second-quarter results. The company posted earnings of 35 cents per share and revenues of $5.93 billion, reflecting a 3.6% decline from the comparable trimester of the previous year. It beat earnings estimates by 5 cents but fell short of revenue expectations by $40 million.
“We continue to build on the growth momentum internationally and successfully manage the market dynamics in North America,” Halliburton Chairman and President Jeff Miller said in a statement.
By geographic area, North America revenue was $3.3 billion, a 13.2% decrease compared to the second quarter of 2019, and international revenue was $2.6 billion, a 12.5% increase. In Latin America revenue was $571 million, a 19.2% increase when compared to the second quarter of 2018; in Europe, Africa and the Commonwealth of Independent States revenue was $823 million, a 13.4% increase; and in the Middle East and Asia revenue was $1.2 billion, a 9.1% increase.
During the quarter ended March 31, Ken Fisher (Trades, Portfolio) increased his position by 369.12% to 2,962,825 shares. Arnold Van Den Berg (Trades, Portfolio)Ă‚ reduced his holding by 2.59% to 223,246 shares, Mario Gabelli (Trades, Portfolio) trimmed his position by 12.27% to 309,258 shares, while Tweedy Browne (Trades, Portfolio) Global Value sold out the stock as of June 30.
Gainers
• Applied Materials Inc. (AMAT, Financial) +5.38%
• Davita Inc. (DVA, Financial) +5.23%
• Western Digital Corp. (WDC, Financial) +4.56%
• Micron Technology Inc. (MU, Financial) +3.95%
• Qorvo Inc. (QRVO, Financial) 2.61%
Losers
• CenturyLink Inc. (CTL, Financial) -3.65%
• Nordstrom Inc. (JWN, Financial) -2.15%
• Kroger Co. (KR, Financial) -2.65%
• Noble Energy Inc. (NBL, Financial) -2.08%
Global markets
The main European stock markets traded mostly higher. The U.K.'s FTSE 100 rose 0.04%, France's CAC 40 inched up 0.18%, Germany's Dax gained 0.24% and Spain's Ibex 35 lost 0.15%.
In Asia, Japan's Nikkei 225 fell 0.23%, India’s BSE Sensex lost 0.80%, Hong Kong's Hang Seng retreated 1.37% and China's Shanghai Composite dipped 1.27%.
Disclosure: The author holdsno positions in any stocks mentioned.
