US Stocks Higher on Friday

GuruFocus.com
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- By Omar Venerio

U.S. stocks were in positive territory on Friday, with investors waiting for the meeting between Donald Trump and China's President Xi Jinping. The Dow Jones Industrial Average gained 0.03% to 25,350, the S&P 500 index rose 0.29% to 2,745, and the Nasdaq Composite Index advanced 0.41% to 7,303.

Shares of GameStop Corp. (GME) fell almost 8% on Friday, after the company posted third-quarter earnings of 67 cents, on revenue of $2.08 billion, reflecting 4.5% year-over-year growth.


Rob Lloyd, COO and CFO, said, "We experienced solid growth in the third quarter, including double-digit growth across software, hardware, accessories and collectibles, underscoring GameStop's leadership position in video games and our unique ability to satisfy all of our customers' entertainment needs."

New hardware sales rose 12.8%, thanks to Xbox One X and Sony PS4, while the New software sales increased 10.9%. Further, Accessories sales increased 32.6%, but Pre-owned sales decreased 13.4%. Digital receipts increased 29.5% to $341.6 million and collectibles sales also inched up by 11.7% to $154.6 million.

Gainers

o Under Armour Inc. (UAA)

o Under Armour Inc. (UA)

o Delta Air Lines Inc. (DAL)

o AT&T Inc. (NYSE:T)

o Kansas City Southern (KSU)

Losers

o General Electric Co. (GE)

o Marriott International Inc. (MAR)

o Chipotle Mexican Grill Inc. (CMG)

o Advanced Micro Devices Inc. (AMD)

o Apache Corp. (APA)

Global markets

The main European stock markets traded lower. The U.K.'s FTSE 100 lost 0.48%, France's CAC 40 retreated 0.01%, Germany's Dax was down 0.16% and Spain's Ibex 35 lost 0.15%.

In Asia, Japan's Nikkei 225 gained 0.69%, India's BSE Sensex jumped 0.95%, Hong Kong's Hang Seng retreated 0.13% and China's Shanghai Composite rose 0.28%.

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

This article first appeared on GuruFocus.


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