U.S. stocks were in the green on Tuesday, recovering from the worst day since October 2019. The Dow Jones Industrial Average gained 0.85% to 28,774, the S&P 500 Index rose 1.20% to 3,282 and the Nasdaq Composite Index jumped 1.53% to 9,279.
Non-index stocks have also posted gains and losses recently. Shares of Lear Corp. (NYSE:LEA) fell more than 4% on Tuesday after the company announced fourth-quarter results. The automotive parts manufacturer posted earnings of $2.64 per share, beating earnings estimates by 43 cents. Revenue of $4.82 billion topped expectations by $350 million.
"Lear delivered solid financial results in 2019, considering the challenging macroeconomic and industry environment," President and CEO Ray Scott said. "Our financial results were affected by a 6% decline in industry production, an extended labor strike at our largest customer, and the weakening of global currencies against the U.S. dollar."
The core operating earnings were $241 million for the quarter, representing 5.0% of sales, compared to $389 million, or 7.9% of sales, a year ago. In the Seating segment, margins and adjusted margins were 4.0% and 5.9% of sales, respectively. In the E-Systems division, margins and adjusted margins were 6.6% and 7.7% of sales.
Further, the net cash generated by operating activities was $485 million and free cash flow reached $291 million.
Moreover, the company repurchased 215,200 shares of common stock for a total of $25 million.
Looking toward fiscal 2020, the company expects net sales between $19.4 billion and $20.2 billion, and core operating earnings in the range of $1,210 to $1,340.
During the quarter ended Dec. 31, Richard Pzena boosted his stake by 9% to 4,553,308 shares.
- PulteGroup Inc. (NYSE:PHM) +6.4%
- Whirlpool Corp. (NYSE:WHR) +6.2%
- Xerox Holdings Corp. (NYSE:XRX) +5.6%
- Mosaic Co. (NYSE:MOS) +3.8%
- Garmin Ltd. (NASDAQ:GRMN) +3.8%
- BorgWarner Inc. (NYSE:BWA) -7.7%
- 3M Co. (NYSE:MMM) -5.6%
- Pfizer Inc. (NYSE:PFE) -5.4%
- Juniper Networks Inc. (NYSE:JNPR) -4.2%
- Harley-Davidson Inc. (NYSE:HOG) -2.7%
The main European stock markets traded in the green.The U.K.'s FTSE 100 gained 0.93%, France's CAC 40 jumped 1.07%, Germany's Dax advanced 0.90% and Spain's Ibex 35 rose 1.26%.
In Asia, Japan's Nikkei 225 fell 0.55%, India's BSE Sensex lost 0.46%, Hong Kong's Hang Seng swelled 0.15% and China's Shanghai Composite plummeted 2.75%.
Disclosure:The author holds no positions in any stocks mentioned.
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This article first appeared on GuruFocus.