Dow Stocks Decline on Negative Economic Data
Dow stocks were in the red on Thursday after the U.S. Census Bureau reported that durable goods orders declined 1.1% in September. The Dow Jones Industrial Average fell 0.18% to 26,787, while the S&P 500 Index rose 0.04% to 3,005 and the Nasdaq Composite Index increased 0.70% to 8,176.
Non-index stocks have also made movements recently. Shares of The Hershey Co. (NYSE:HSY) fell almost 2.5% on Thursday after announcing third-quarter results. The company posted earnings of $1.61 per share on $2.13 billion in revenue, topping earnings estimates by 1 cent and revenue expectations by $10 million.
"We are pleased with our third-quarter results and the momentum we are seeing in our core business," President and CEO Michele Buck said.
The reported gross margin was 44.2%, up from 41.5% in the prior-year quarter. The adjusted gross margin was 44.8%, a slight increase from 44% a year ago.
The operating profit grew 13.4% to $460.8 million. The operating margin was 21.6% and the adjusted operating profit was $477 million.
Looking ahead to the full year, the company expects net sales to increase 2.5%. It also projects diluted earnings per share will range from $5.54 to $5.66 and adjusted earnings per share will be between $5.68 and $5.74.
Gainers
Align Technology Inc. (NASDAQ:ALGN) +14.7%
Varian Medical Systems Inc. (NYSE:VAR) +8.1%
Applied Materials Inc. (NASDAQ:AMAT) +7.5%
F5 Networks Inc. (NASDAQ:FFIV) +6.9%
Southwest Airlines Co. (NYSE:LUV) +5.3%
Losers
Alliance Data Systems Corp. (NYSE:ADS) -13.9%
Baxter International Inc. (NYSE:BAX) -9.3%
Ford Motor Co. (NYSE:F) -6.8%
Freeport-McMoRan Inc. (NYSE:FCX) -5.7%
Global markets
The main European stock markets traded in the green.The U.K.'s FTSE 100 advanced 0.93%, France's CAC 40 gained 0.55%, Germany's Dax increased 0.58% and Spain's IBEX 35 swelled 0.07%.
In Asia, Japan's Nikkei 225 gained 0.55%, India's BSE Sensex slid 0.10%, Hong Kong's Hang Seng rose 0.87% and China's Shanghai Composite declined 0.02%.
Disclosure: The author holds no positions in any stocks mentioned.
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