U.S. stocks were in the green on Thursday on positive developments between the U.S. and China. The Dow Jones Industrial Average gained 0.53% to 27,280, the S&P 500 Index rose 0.57% to 3,018 and the NasdaqComposite Index swelled 0.64% to 8,221.
Shares of Oracle Corp. (ORCL, Financial) fell almost4% after announcing first-quarter results. The company posted earnings of 81 cents per share on $9.22 billion in revenue. The company beat earnings estimates by 63 cents, but fell $70 million short of revenue expectations.
During the quarter, the GAAP operating income rose 4% to $2.9 billion and GAAP operating margin was 31%. The non-GAAP operating income grew 2% to $3.8 billion and the non-GAAP operating margin was 42%.
Further, the board of directors increased the share repurchase authorization by $15 billion and declared a quarterly dividend of 24 cents per share.
During the quarter ended June 30,Ken Fisher (Trades, Portfolio) boosted his stake by 4% to 15,567,402 shares. On the other hand, Robert Olstein reduced his holding by 20% to 89,000 and Richard Pzena curbed his position by 8% to 7,911,165 shares.
Gainers
- LKQ Corp. (LKQ, Financial) +12.6%
- Varian Medical Systems Inc. (VAR, Financial) +5%
- Freeport-McMoRan Inc. (FCX, Financial) +4%
- IHS Markit Ltd. (INFO, Financial) +3.3%
- Wynn Resorts Ltd. (WYNN) +3.2%
- Ball Corp. (BLL, Financial) +2.9%
Losers
- DXC Technology Co. (DXC, Financial) -12.5%
- Cimarex Energy Co. (XEC, Financial) -4.2%
- Helmerich and Payne Inc. (HP, Financial) -3.9%
- National Oilwell Varco Inc. (NOV, Financial) -3.7%
- Concho Resources Inc. (CXO, Financial) -2.7%
Global markets
The main European stock markets traded in the green. The U.K.'s FTSE 100 advanced 0.09%, France's CAC 40 swelled 0.44%, Germany's Dax rose0.41% and Spain's Ibex 35 gained 0.25%.
In Asia, Japan's Nikkei 225 gained 0.75%, India’s BSE Sensex fell 0.45%, Hong Kong's Hang Seng slid 0.26% and China's Shanghai Composite inched up 0.75%.
Disclosure:The author holds no positions in any stocks mentioned.
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