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US Markets Mostly Higher on Tuesday

- By Omar Venerio

U.S. stocks were mixed on Tuesday morning on economic data. The Consumer Price Index for February rose 0.2% month over month, in line with expectations, and 1.5% year over year. The underlying inflation( excluding volatile categories) advanced 2.1%. The Dow Jones Industrial Average retreated 0.33% to 25,565, the S&P 500 index rose 0.33% to 2,792, while the Nasdaq Composite Index climbed 0.47% to 7,594.


Shares of Stitch Fix Inc. (SFIX) soared nearly 25% on Tuesday morning after the company announced second-quarter results on Monday. Revenue grew 25.1% from the prior-year quarter to $370.28 million, beating estimates by $5.42 million. Earnings were 12 cents per share, topping analysts' expectations by 7 cents.

"Second quarter was another strong quarter for us, delivering net revenue of $370.3 million, exceeding our guidance and representing 25% year-over-year growth," founder and CEO Katrina Lake said.

The company recorded about 3 million active clients, an increase of 18% year over year. The gross margin was 44.1%, up 110 basis points from 43% in the year-ago quarter.

Looking ahead to the third quarter, the company expects revenue in the range of $388 million to $398 million. For 2019, it projects revenue between $1.53 billion and $1.56 billion and adjusted earnings before interest, taxes, depreciation and amortization between $33 million and $43 million.

Gainers

  • Align Technology Inc. (ALGN)
  • Devon Energy Corp. (DVN)
  • Whirlpool Corp. (WHR)
  • Apache Corp. (APA)



Losers

  • F5 Networks Inc. (FFIV)
  • Boeing Co. (BA)
  • United Continental Holdings Inc. (UAL)
  • Alaska Air Group Inc. (ALK)
  • Vulcan Materials Co. (VMC)



Global markets

The main European stock markets were mixed. The U.K.'s FTSE 100 rose 0.29% and France's CAC 40 gained 0.08%, while Germany's Dax fell 0.17% and Spain's IBEX 35 slid 0.11%.

In Asia, Japan's Nikkei 225 jumped 1.79%, India's BSE Sensex advanced 1.30%, Hong Kong's Hang Seng gained 1.46% and China's Shanghai Composite climbed 1.10%.

Disclosure: The author holds no positions in any stocks mentioned.

This article first appeared on GuruFocus.