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US Stocks Rally on Tuesday

U.S. stocks were in the green on Tuesday, with the Dow rising about 500 points. The Dow Jones Industrial Average gained 1.65% to 28,868, the S&P 500 index gained 1.73% to 3,305 and the Nasdaq Composite Index advanced 2.25% to 9,482.

Non-index stocks have also posted gains and losses recently. Shares of The Clorox Co. (NYSE:CLX) jumped more than 5.5% on Tuesday after the company announced second-quarter 2020 results. It posted earnings of $1.46 per share, beating earnings estimates by 14 cents. Revenue of $1.45 billion were in line with expectations.


"I feel good about the progress we're making, which is reflected in our second-quarter results, particularly the fifth consecutive quarter of gross margin expansion and sequential improvement in organic sales," Chairman and CEO Benno Dorer said.

During the quarter, the gross margin rose 40 basis points from the prior-year quarter to 44.1% on the back of benefits form cost-saving initiatives and price increases.

The Cleaning segment sales were flat, but the Lyfestyle business' sales increased on the back of its Natural Personal Care products, which was fueled by innovation in Burt's Bees Lip Care and Face Care categories. On the other hand, international sales declined 2%, principally by negative foreign currency impact from Argentina.

Looking toward full-year 2020, the company expects diluted earnings per share of $6.10 to $6.25.

During the quarter ended Sept. 30, Ken Fisher (Trades, Portfolio) increased his holding by 1.4% to 20,877 shares and Ray Dalio boosted his position by 25% to 180,535 shares. Philippe Laffont sold out of the stock.

Gainers

  • Albemarle Corp. (NYSE:ALB) +13%
  • Textron Inc. (NYSE:TXT) +10.2%
  • Ralph Lauren Corp. (NYSE:RL) +9.2%
  • United Rentals Inc. (NYSE:URI) +6%
  • Applied Materials Inc. (NASDAQ:AMAT) +5.4%



Losers

  • Gartner Inc. (NYSE:IT) -5.7%
  • Waters Corp. (NYSE:WAT) -3.1%
  • ConocoPhillips (NYSE:COP) -4.3%
  • Newmont Corp. (NYSE:NEM) -2.9%
  • Conagra Brands Inc. (NYSE:CAG) -2.9%



Global markets

The main European stock markets traded in the green.The U.K.'s FTSE 100 rose 1.55%, France's CAC 40 gained 1.76%, Germany's Dax inched up1.81% and Spain's Ibex 35 jumped 1.68%.

In Asia, Japan's Nikkei 225 gained 0.49%, India's BSE Sensex climbed 2.30%, Hong Kong's Hang Seng rose 1.21% and China's Shanghai Composite advanced 1.34%.

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

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This article first appeared on GuruFocus.