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US Stocks Mixed on Friday

U.S. stocks were mixed on Friday, after the S&P 500 Index hit an all-time high of 3,085.18 on Thursday. The Dow Jones Industrial Average fell 0.06% to 27,655, the S&P 500 Index gained 0.09% to 3,087 and the Nasdaq Composite Index rose 0.35% to 8,463.

Non-index stocks have also posted gains and losses recently. Shares of Monster Beverage Corp. (NASDAQ:MNST) gained almost 3% on Friday after the company announced third-quarter results. The company posted earnings of 55 cents per share, beating estimates by 2 cents. Revenue of $1.13 billion topped expectations by $20 million.


"We are pleased to report record gross and net sales in the 2019 third quarter, driven by our Reign Total Body Fuel high performance energy drinks, which we launched in the first quarter, as well as growth in our Monster Energy brand energy drinks internationally," CEO Rodney C. Sacks said.

The gross profit, as a percentage of net sales, for the quarter was 59.4%, compared with 59.8% in the prior-year quarter. The decrease was due to geographical and product sales mix.

Further, the operating income rose to $395.4 million from $339.6 million a year ago, while the operating expenses increased 3.5% year over year to $277.6 million.

During the quarter ended June 30, Jim Simons (Trades, Portfolio)'s Renaissance Technologies boosted its stake by 20% to 8,624,004 shares. Ray Dalio (Trades, Portfolio) curbed his holding by 43% to 311,449 shares and Frank Sands (Trades, Portfolio) reduced his position by 3% to 10,217,595 shares. Philippe Laffont established a new position, buying 5,711 shares.

Gainers

  • Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) +4.6%
  • Xerox Holdings Corp. (NYSE:XRX) +4.2%
  • Noble Energy Inc. (NYSE:NBL) +3.9%
  • Centene Corp. (NYSE:CNC) +3.3%
  • Sealed Air Corp. (NYSE:SEE) +2.6%



Losers

  • Gap Inc. (NYSE:GPS) -8.1%
  • Albemarle Corp. (NYSE:ALB) -5.4%
  • News Corp. (NASDAQ:NWS) -4%
  • NRG Energy Inc. (NYSE:NRG) -3.8%
  • Zoetis Inc. (NYSE:ZTS) -2.7%



Global markets

The main European stock markets traded in the red. The U.K.'s FTSE 100 fell 0.63%, France's CAC 40 slid 0.02%, Germany's Dax dipped 0.46% and Spain's IBEX 35 declined 0.57%.

In Asia, Japan's Nikkei 225 gained 0.26%, India's BSE Sensex fell 0.81%, Hong Kong's Hang Seng retreated 0.70% and China's Shanghai Composite swelled 0.49%.

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

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This article first appeared on GuruFocus.