U.S. stocks were in the green on Wednesday, with energy stocks pulling the market up. The Dow Jones Industrial Average gained 0.82% to 25,987, the S&P 500 Index rose 0.52% to 2,884 and the Nasdaq Composite Index advanced 0.23% to 7,844.
Shares of Autodesk Inc. (ADSK, Financial) tumbled more than 7% after announcing second-quarter results. The company posted earnings of 65 cents per share on $796.8 million in revenue, reflecting 30.3% growth from the prior-year quarter. The company beat earnings estimates by 4 cents and revenue expectations by $8.82 million.
"We closed a solid first half of the year with a very strong second quarter as revenue, billings, earnings and free cash flow came in ahead of expectations," President and CEO Andrew Anagnost said.
For the quarter, the GAAP operating income was $74 million, up from a loss of $25 million in the year-ago quarter. The GAAP operating margin was 9%, up 130 basis points year over year. The total non-GAAP operating income was $187 million, compared to $56 million last year, and the non-GAAP operating margin was 23%, up 140 basis points.
Further, cash flow from operating activities was $219 million, up $176 million from a year ago. The free cash flow was $205 million, an increase of $181 million.Â
During the quarter ended June 30, Steven Cohen (Trades, Portfolio) established a position, buying 45,300 shares. Ken Fisher (Trades, Portfolio) boosted his holding by 31% to 353,626 shares and Mario Gabelli beefed up his position by 14% to 6,935 shares.On the other hand, Jim Simons (Trades, Portfolio)' Renaissance Technologies reduced its holding by 61% to 113,368 shares.Paul Tudor Jones (Trades, Portfolio) curbed his position by 71% to 21,088 shares.
Gainers
- Cimarex Energy Co. (XEC, Financial) +11.2%
- Coty Inc. (COTY, Financial) +5.4%
- Halliburton Co. (HAL, Financial) +5.2%
- Philip Morris International Inc. (PM, Financial) +4.3%
- Apache Corp. (APA, Financial) +4.2%
Losers
- Everest Re Group Ltd. (RE, Financial) -3.2%
- Adobe Inc. (ADBE, Financial) -2.4%
- Electronic Arts Inc. (EA, Financial) -2.3%
- Johnson & Johnson (JNJ, Financial) -1.5%
Global markets
In Europe, the U.K.'s FTSE 100 rose 0.35%, France's CAC 40 slipped 0.34%, Germany's Dax declined 0.25% and Spain's IBEX 35 swelled 0.57%.
In Asia, Japan's Nikkei 225 gained 0.11%, India’s BSE Sensex fell 0.50%, Hong Kong's Hang Seng slumped 0.19% and China's Shanghai Composite dipped 0.29%.
Disclosure:The author holds no positions in any stocks mentioned.
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