U.S. stocks were in the red on Thursday on the back of global concern regarding the coronavirus outbreak in China. The Dow Jones Industrial Average fell 0.23% to 29,118, the S&P 500 index declined 0.10% to 3,318 and the Nasdaq Composite Index rose 0.04% to 9,387.
Non-index stocks have also posted gains and losses recently. Shares of Texas Instruments Inc. (NASDAQ:TXN) fell 0.3% on Thursday after the company announced fourth-quarter 2019 results. The company posted earnings of $1.11 per share, beating estimatesby 7 cents. Revenue of $3.35 billion also beat expectations by $140 million.
For the quarter, the gross margin was 62.6%, down 210 basis points from the prior-year quarter. Selling, general and administrative expenses declined 120 basis points year over year to $412 million and research and development expenses inched up 70 basis points to $414 million when compared to a year ago. The operating margin was 37.3%, down 350 basis points from last year.
Cash flow from operations was $6.6 billion for the year and free cash flow was $5.8 billion, accounting for 40% of revenue.
Moreover, the company returned cash to investors through $6 billion in stock repurchases and dividends.
Looking ahead to the first quarter of 2020, the company expects revenue between $3.12 billion and $3.38 billion and earnings per share in the range of 96 cents to $1.14.
During the quarter ended Sept. 30, Al Gore (Trades, Portfolio) reduced his stake by 5% to 5,483,228 shares. Mario Gabelli reduced his position to 150,819 shares. On the other hand, Ken Fisher (Trades, Portfolio) increased his holding by 1.5% to 467,683 shares and Tom Gayner boosted his position by 4% to 703,500 shares.
- L Brands Inc. (NYSE:LB) +4.5%
- Kinder Morgan Inc. (NYSE:KMI) +3.8%
- Union Pacific Corp. (NYSE:UNP) +3.1%
- Western Digital Corp. (NASDAQ:WDC) +3.1%
- General Electric Co. (NYSE:GE) +2.9%
- VF Corp. (NYSE:VFC) -8.6%
- Edwards Lifesciences Corp. (NYSE:EW) -5.2%
- Freeport-McMoRan Inc. (NYSE:FCX) -5.1%
- Fox Corp. (NASDAQ:FOX) -3.8%
The main European stock markets traded in the red.The U.K.'s FTSE 100 fell 0.85%, France's CAC 40 slid 0.65%, Germany's Dax dipped 0.94% and Spain's Ibex 35 slipped 0.58%.
In Asia, Japan's Nikkei 225 fell0.98%, India's BSE Sensex gained 0.66%, Hong Kong's Hang Seng retreated1.52% and China's Shanghai Composite sank 2.75%.
Disclosure:The author holds no positions in any stocks mentioned.
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This article first appeared on GuruFocus.