Yahoo Finance Thursday Morning Market Highlights
US markets
U.S. stocks were in the green on Thursday morning ahead of greater than expected payrolls in June. The Dow Jones Industrial Average gained 0.96% to 25,981, the S&P 500 index jumped 0.95% to 3,145 and the Nasdaq Composite Index was up 1.01% to 10,257.
Gainers
o Xerox Holdings Corp (NYSE:XRX) +6.3%
o Mosaic Co (NYSE:MOS) +5.6%
o HanesBrands Inc (NYSE:HBI) +5.5%
o National Oilwell Varco Inc (NYSE:NOV) +4.2%
o Cabot Oil & Gas Corp (NYSE:COG) +3.7%
Losers
o Ventas Inc (NYSE:VTR) -2.8%
o Gap Inc (NYSE:GPS) -1%
o Darden Restaurants Inc (NYSE:DRI) -0.7%
o American Tower Corp (NYSE:AMT) -0.4%
Global markets
The main European stock markets traded in the green. The UK's FTSE 100 gained 1.24%, France's CAC 40 advanced 2.48%, Germany's Dax was up 2.82% and Spain's Ibex 35 rose 3.75%.
In Asia, Japan's Nikkei 225 gained 0.11%, India's BSE Sensex rose 1.21%, Hong Kong's Hang Seng advanced 2.85% and China's Shanghai Composite was up 2.13%.
Lindsay releases earnings report
Shares of Lindsay Corporation (NYSE:LNN) gained more than 3% on Thursday morning after the company announced its fiscal third-quarter results. The company posted earnings per share of 93 cents, beating analysts' estimates by 5 cents. Revenue of $123.1 million grew 1.7% year-over-year and fell short of expectations by $420,000.
CEO Tim Hassinger had the following to say:
"I am pleased with the success we have had in these areas as a result of the proactive measures we have put in place. In spite of this challenging environment, our businesses continue to perform well. During the quarter we also completed the acquisition of Net Irrigate, LLC, an agriculture IoT technology company that provides remote monitoring solutions for irrigation customers. This acquisition expands the number of irrigated acres managed under our FieldNET(R) platform."
By segment, the irrigation revenues were $93.5 million, down $5.1 million or 5% compared to $98.6 million in the prior-year quarter. In the Infrastructure segment, revenues were $29.6 million, up $7.1 million or 32% compared to $22.4 million in the prior year-year quarter. The operating margin was 28.9% of sales compared to 15.8% in the prior year.
Jim Simons reduced his position in the company by 72%, while Pioneer Investments added 4% to its holding.
Disclosure: The author holds no positions in any stocks mentioned.
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This article first appeared on GuruFocus.
