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US Stocks Edge Higher Tuesday

U.S. stocks were in the green on Tuesday, with several companies reporting financial results, including Kimberley-Clark (NYSE:KMB), Procter & Gamble (NYSE:PG), Hasbro (NASDAQ:HAS), Texas Instruments (NASDAQ:TXN) and Snap (NYSE:SNAP). The Dow Jones Industrial Average gained 0.33% to 26,916, the S&P 500 Index rose 0.19% to 3,012 and the Nasdaq Composite Index slid 0.13% to 8,152.

Shares of United Technologies Corp. (NYSE:UTX) gained more than 2% on Tuesday after announcing third-quarter results. The company posted earnings of $2.21 per share on $19.5 billion in revenue. The company beat earnings estimates by 18 cents and revenue expectations by $190 million.


"United Technologies delivered another strong quarter with 5% organic sales growth, as well as margin expansion across all four businesses," Chairman and CEO Gregory Hayes said.

The adjusted operating profit margin increased 120 basis points to 15.3%. Further, the cash flow from operations was $2.5 billion and capital expenditures were $529 million, resulting in free cash flow of $2 billion.

Looking ahead to the full year, the company expects sales between $76 billion and $76.5 billion versus the prior outlook of $75.5 billion to $77 billion. It also projects improved adjusted earnings per share between $8.05 and $8.15 and free cash flow in the range of $5.3 billion to $5.7 billion for the year.

During the quarter ended Sept. 30, the T Rowe Price Equity Income Fund (Trades, Portfolio) boosted its holding by 66% to 265,000 shares, while Steven Romick (Trades, Portfolio) reduced his stake by 10.5% to 2,235,946 shares. Jim Simons (Trades, Portfolio) sold out of the stock.

Gainers

  • Biogen Inc. (NASDAQ:BIIB) +30%
  • Centene Corp. (NYSE:CNC) +7%
  • Harley-Davidson Inc. (NYSE:HOG) +7.2%
  • Sherwin-Williams Co. (NYSE:SHW) +4%
  • Under Armour Inc. (NYSE:UA) +5.8%



Losers

  • Hasbro Inc. (NASDAQ:HAS) -15%
  • Kimberly-Clark Corp. (NYSE:KMB) -6.2%
  • McDonald's Corp. (MCD) -4%
  • Merck & Co. Inc. (MRK) -3.7%
  • Albemarle Corp.(ALB) -0.9%



Global markets

The main European stock markets traded in the green.The U.K.'s FTSE 100 advanced 0.68%, France's CAC 40 rose 0.17%, Germany's Dax increased 0.05% and Spain's IBEX 35 swelled 0.24%.

In Asia, Japan's Nikkei 225 gained 0.25%, India's BSE Sensex fell 0.85%, Hong Kong's Hang Seng advanced 0.23% and China's Shanghai Composite rose 0.50%.

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

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This article first appeared on GuruFocus.