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US Stocks Fall on Thursday

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.

Gainers

  • 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%



Losers

  • 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%



Global markets

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.