U.S. stocks were in the green on Wednesday, with the Dow rising about 450 points. The Dow Jones Industrial Average gained 1.64% to 29,275, the S&P 500 index gained 1.05% to 3,332 and the Nasdaq Composite Index advanced 0.63% to 9,527.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Non-index stocks have also posted gains and losses recently. Shares of Snap Inc. (NYSE:SNAP) plummeted more than 12% on Wednesday after the company announced fourth–quarter results. The company posted earnings of 3 cents per share, beating earnings estimates by 2 cents.Revenue of $560.89 million fell short of expectations.” data-reactid=”12″>Non-index stocks have also posted gains and losses recently. Shares of Snap Inc. (NYSE:SNAP) plummeted more than 12% on Wednesday after the company announced fourth–quarter results. The company posted earnings of 3 cents per share, beating earnings estimates by 2 cents.Revenue of $560.89 million fell short of expectations.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content=""In 2019, we saw momentum across the board," CEO Evan Spiegel said. "We grew our community by 31 million daily active users, accelerated our revenue growth, and progressed towards profitability by improving full-year Adjusted EBITDA by 65% year over year."” data-reactid=”19″>“In 2019, we saw momentum across the board,” CEO Evan Spiegel said. “We grew our community by 31 million daily active users, accelerated our revenue growth, and progressed towards profitability by improving full-year Adjusted EBITDA by 65% year over year.”
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For the quarter, Snap recorded 218 million daily active users, an increase of 31 million or 17% year over year.” data-reactid=”20″>For the quarter, Snap recorded 218 million daily active users, an increase of 31 million or 17% year over year.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Further, the company launched 78 new international Discover channels, up from 53 in the previous quarter, to provide locally relevant content to different communities around the world.” data-reactid=”21″>Further, the company launched 78 new international Discover channels, up from 53 in the previous quarter, to provide locally relevant content to different communities around the world.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Looking forward to first-quarter 2020, the company expects revenue to be between $450 million and $470 million, compared to $320 million in the same quarter of 2019. Further, the adjusted Ebitda is expected to be between negative $90 million and negative $70 million, compared to negative $123 million in the comparable period of 2019.” data-reactid=”22″>Looking forward to first-quarter 2020, the company expects revenue to be between $450 million and $470 million, compared to $320 million in the same quarter of 2019. Further, the adjusted Ebitda is expected to be between negative $90 million and negative $70 million, compared to negative $123 million in the comparable period of 2019.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="During the quarter ended Sept. 30, Jim Simons (Trades, Portfolio)’ Renaissance Technologies trimmed its stake by 18% to 1,957,900 shares and Paul Tudor Jones (Trades, Portfolio) reduced his position by 19% to 128,949 shares. Louis Moore Bacon (Trades, Portfolio) boosted his holding by 125% to 1,175,000 shares.” data-reactid=”23″>During the quarter ended Sept. 30, Jim Simons (Trades, Portfolio)’ Renaissance Technologies trimmed its stake by 18% to 1,957,900 shares and Paul Tudor Jones (Trades, Portfolio) reduced his position by 19% to 128,949 shares. Louis Moore Bacon (Trades, Portfolio) boosted his holding by 125% to 1,175,000 shares.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Gainers” data-reactid=”24″>Gainers
- Biogen Inc. (NASDAQ:BIIB) +16.5%
- Coty Inc. (NYSE:COTY) +12.6%
- Capri Holdings Ltd. (NYSE:CPRI) +8%
- Concho Resources Inc. (NYSE:CXO) +7%
- Humana Inc. (NYSE:HUM) +6.6%
- Devon Energy Corp. (NYSE:DVN) +6.6%
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Losers” data-reactid=”33″>Losers
- Ford Motor Co. (NYSE:F) -9.4%
- Seagate Technology PLC (NASDAQ:STX) -6.4%
- KLA Corp. (NASDAQ:KLAC) -4.4%
- ServiceNow Inc. (NYSE:NOW) -4.1%
- Albemarle Corp. (NYSE:ALB) -3.4%
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Global markets” data-reactid=”41″>Global markets
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The main European stock markets traded in the green.The U.K.’s FTSE 100 rose 0.57%, France’s CAC 40 gained 0.85%, Germany’s Dax inched up 1.48% and Spain’s Ibex 35 climbed 1.62%.” data-reactid=”42″>The main European stock markets traded in the green.The U.K.’s FTSE 100 rose 0.57%, France’s CAC 40 gained 0.85%, Germany’s Dax inched up 1.48% and Spain’s Ibex 35 climbed 1.62%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In Asia, Japan’s Nikkei 225 gained 1.02%, India’s BSE Sensex swelled 0.87%, Hong Kong’s Hang Seng rose 0.42% and China’s Shanghai Composite advanced 1.25%.” data-reactid=”43″>In Asia, Japan’s Nikkei 225 gained 1.02%, India’s BSE Sensex swelled 0.87%, Hong Kong’s Hang Seng rose 0.42% and China’s Shanghai Composite advanced 1.25%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Disclosure:The author holds no positions in any stocks mentioned.” data-reactid=”44″>Disclosure:The author holds no positions in any stocks mentioned.
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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This article first appeared on GuruFocus.
” data-reactid=”46″>This article first appeared on GuruFocus.
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