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ovenerio
Omar Venerio
Articles (1577) 

3 Major Indexes Are Positive on Monday

Simply Good Foods updates full-year guidance

U.S. stocks were in the green on Monday on the back of U.S.-China trade talks. The Dow Jones Industrial Average gained 0.03% to 26,579, the S&P 500 Index rose 0.03% to 2,952 and the Nasdaq Composite Index advanced 0.12% to 7,992.

Shares of The Simply Good Foods Co. (NASDAQ:SMPL) fell almost 4% on Monday after the company announced fiscal 2019 results will include around a 2% benefit to net sales growth due to an additional week. 

The company previously anticipated full-year sales growth would be similar to the nine-month increases of 18.9% and 23.3% in adjusted earnings before interest, taxes, depreciation and amortization.

Moreover, the company plans to offer 13.4 million shares to finance the acquisition of Quest Nutrition LLC.

During the quarter ended June 30, Steven Cohen (Trades, Portfolio) boosted his position by 70% to 553,113 shares. Jim Simons (Trades, Portfolio) reduced his stake by 11% to 1,509,000 shares and Paul Tudor Jones (Trades, Portfolio) curbed his holding by 39% to 59,157 shares.

Gainers

Losers

Global markets

The main European stock markets traded in the green. The U.K.'s FTSE 100 rose 0.70%, France's CAC 40 gained 0.61%, Germany's Dax swelled 0.71% and Spain's IBEX 35 advanced 0.90%.

In Asia, Japan's Nikkei 225 fell 0.16%, India’s BSE Sensex slid 0.38%, Hong Kong's Hang Seng declined 1.11% and China's Shanghai Composite lost 0.92%.

Disclosure: The author holds no positions in any stocks mentioned.

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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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