U.S. stocks were in the green on Friday despite a weaker-than-expected jobs report. The U.S. created 130,000 jobs in August, below the 150,000 expected.The Dow Jones Industrial Average gained 0.29% to 26,810, the S&P 500 index rose 0.20% to 2,982 and the Nasdaq Composite Index swelled 0.16% to 8,129.
Shares of Lululemon Athletica Inc. (LULU, Financial) gained more than 7% after announcing second-quarter results. The company posted earnings of 96 cents per share on $883.35 million in revenue, reflecting 22.1% growth from the prior-year quarter. The company beat earnings estimates by 7 cents and revenue expectations by $38.32 million.
Selling, general and administrative expenses increased 21.3% to $317.8 million, but were down 20 basis points to 36% of sales.The gross profit reached $485.8 million, an increase of 23% from a year ago, while the gross margin was 55%, an increase of 20 basis points. Further, the operating margin was 19%, an increase of 50 basis points.
Looking ahead to third-quarter 2019, the company expects net revenue to range from $880 million to $890 million. It also projects diluted earnings between 90 cents and 92 cents per share.
During the quarter ended June 30, Philippe Laffont established a new position, buying 2,599 shares.Paul Tudor Jones (Trades, Portfolio) boosted his holding by 20% to 8,089 shares and Steven Cohen (Trades, Portfolio) increased his position by 144% to 719,821 shares. John Hussman (Trades, Portfolio) and Joel Greenblatt (Trades, Portfolio) sold out of the stock.
Gainers
- Tapestry Inc. (TPR, Financial) +3.5%
- Perrigo Company PLC (PRGO, Financial) +3.3%
- Kellogg Co. (K, Financial) +2.3%
- Costco Wholesale Corp. (COST, Financial) +2.2%
- Fastenal Co. (FAST, Financial) +2.1%
Losers
- Cimarex Energy Co. (XEC, Financial) -2.2%
- Apache Corp. (APA, Financial) -2.2%
- Devon Energy Corp. (DVN, Financial) -1.5%
- Diamondback Energy Inc. (FANG, Financial) -1.3%
- Concho Resources Inc. (CXO, Financial) -1.0%
Global markets
The main European stock markets traded mostly higher. The U.K.'s FTSE 100 swelled 0.02%, France's CAC 40 gained 0.12%, Germany's Dax rose 0.38% and Spain's IBEX 35 retreated 0.10%.
In Asia, Japan's Nikkei 225Â gained 0.54%, India’s BSE Sensex increased 0.92%, Hong Kong's Hang Seng jumped 0.66% and China's Shanghai Composite advanced 0.46%.
Disclosure:Â The author holds no positions in any stocks mentioned.
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