U.S. Markets closed

US Stock Markets Advance Tuesday

U.S. stocks were in the green Tuesday, on decreased tension in the trade war between the U.S. and China as President Trump delayed new tariffs on imports from China. The Dow Jones Industrial Average gained 1.44% to 26,279, the S&P 500 index rose 1.48% to 2,926, and the Nasdaq Composite Index advanced 1.95% to 8,016.

Shares of JD.com gained almost 13% after announcing second-quarter results. The company posted earnings per share of 33 cents and revenue of $21.9 billion, reflecting 22.9% growth from the comparable trimester of the previous year. The company beat earnings etsimates by 25 cents and revenue estimates by $970 million.

"JD.com delivered robust growth in the second quarter across our key metrics of revenue, profitability, cash flow and customer base," said Sidney Huang, chief financial officer of JD.com. "Our economies of scale and innovative technologies are driving operating efficiency and further strengthening our business model. Looking ahead, we will continue to invest in user experience and our talented workforce to further grow the business and create value for all of our stakeholders."

In the trimester, cost of revenues rose by 21.2% to 128.2 billion yuan from 105.8 billion yuan in the second quarter of 2018 due to growth in online direct sales and logistics services to third parties.

Non-GAAP Ebitda was 4.4 billion yuan, and non-GAAP Ebitda margin was 2.9%, higher than 900 million yuan with a non-GAAP Ebitda margin of 0.8% for the second quarter of 2018.

Looking ahead to the third quarter of 2019, the company expects net revenues between 126 billion yuan and 130 billion yuan, reflecting 20-24% growth compared to the third quarter of 2018.

During the quarter ended June 30, Ray Dalio (Trades, Portfolio) boosted his holding by 239% to 489,529 shares and Steven Romick (Trades, Portfolio) reduced his position by 15% to 5,731,482 shares. Jim Simons (Trades, Portfolio) established a new position in the stock with 875,200 shares.


? Symantec Corp. (NASDAQ:SYMC) +6.7%

? Best Buy Co. Inc. (NYSE:BBY) +6.5%

? Micron Technology Inc. (NASDAQ:MU) +4.9%

? Apple Inc. (NASDAQ:AAPL) +4.2%

? International Paper Co. (NYSE:IP) +3.9%


? Southern Co. (NYSE:SO) -2.5%

? Newmont Goldcorp Corp. (NYSE:NEM) -2.1%

? Cabot Oil & Gas Corp. (NYSE:COG) -2.1%

? Helmerich and Payne Inc. (NYSE:HP) -1.9

? Coty Inc. (NYSE:COTY) -1.7%

Global markets

The main European stock markets traded in the green. The U.K.'s FTSE 100 rose 0.33%, France's CAC 40 jumped 0.99%, Germany's Dax advanced 0.60% and Spain's Ibex 35 gained 0.22%.

In Asia, Japan's Nikkei 225 sunk 1.11%, India's BSE Sensex fell 1.66%, Hong Kong's Hang Seng plummeted 2.10% and China's Shanghai Composite dipped 0.63%.

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

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This article first appeared on GuruFocus.