U.S. stocks were in the red on Wednesday, despite more positive corporate earnings. The Dow Jones Industrial Average fell 0.08% to 27,002, the S&P 500 Index declined 0.20% to 2,990 and the Nasdaq Composite Index retreated 0.30% to 8,124.
Shares of J.B. Hunt Transport Services Inc. (NASDAQ:JBHT) jumped more than 3% on Wednesday after the company announced third-quarter results. The company posted earnings of $1.40 per share on $2.36 billion in revenue. It fell 5 cents short of earnings estimates, but beat revenues expectations by $20 million.
Total operating revenue was $2.4 billion, compared with $2.2 billion in the prior-year quarter.
Further, the operating income reached $212.1 million, up from $174.7 million a year ago.
Moreover, the company repurchased approximately 380,000 shares for $36 million. As of Sept. 30, the company had approximately $145 million remaining under its share repurchase program.
Looking ahead to full-year 2019, the company expects adjusted earnings per share between $8.62 and $8.67.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="During the quarter ended June 30, Jim Simons (Trades, Portfolio) reduced his holding by 69% to 131,144 shares and Ray Dalio (Trades, Portfolio) curbed his position by 14% to 21,058 shares, while Steven Cohen (Trades, Portfolio) established a new position with 61,721 shares.” data-reactid=”23″>During the quarter ended June 30, Jim Simons (Trades, Portfolio) reduced his holding by 69% to 131,144 shares and Ray Dalio (Trades, Portfolio) curbed his position by 14% to 21,058 shares, while Steven Cohen (Trades, Portfolio) established a new position with 61,721 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
- McKesson Corp. (NYSE:MCK) +4.8%
- AmerisourceBergen Corp. (NYSE:ABC) +3.4%
- Capri Holdings Ltd. (NYSE:CPRI) +2.6%
- Cardinal Health Inc. (NYSE:CAH) +2.4%
- D.R. Horton Inc. (NYSE:DHI) +2%
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Losers” data-reactid=”32″>Losers
- Exelon Corp. (NASDAQ:EXC) -4.6%
- DXC Technology Co. (NYSE:DXC) -3.9%
- Salesforce.com Inc. (NYSE:CRM) -3.8%
- Autodesk Inc. (NASDAQ:ADSK) -3.1%
- Micron Technology Inc. (NASDAQ:MU) -2.8%
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Global markets” data-reactid=”40″>Global markets
The main European stock markets were mixed. The U.K.’s FTSE 100 dipped 0.61%, France’s CAC 40 declined 0.09%, Germany’s Dax rose 0.32% and Spain’s IBEX 35 advanced 0.33%.
In Asia, Japan’s Nikkei 225 gained 1.20%, India’s BSE Sensex rose 0.24%, Hong Kong’s Hang Seng swelled 0.61% and China’s Shanghai Composite slid 0.41%.
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=”45″>This article first appeared on GuruFocus.
