U.S. stocks fell on Tuesday with investors awaiting tomorrow's Fed monetary policy decision and President Donald Trump expecting more aggressive interest rate decisions. The Dow Jones Industrial Average fell 0.26% to 27,151, the S&P 500 index fell 0.38% to 3,009, and the Nasdaq Composite Index slipped 0.37% to 8,264.
Shares of Procter & Gamble Co. (NYSE:PG) gained more than 4% after announcing fourth-quarter results. The company posted earnings of $1.10 per share and revenue of $17.1 billion, reflecting 3.6% growth from the comparable trimester of the previous year. The company beat earnings estimates by 5 cents and beat revenue expectations by $240 million.
"We met or exceeded each of our going-in core targets for sales, profit and cash in fiscal 2019," said Chairman, President and CEO David Taylor.
In the quarter, the gross margin rose 270 basis points, including 150 basis points of lower non-core restructuring charges versus the previous year. Also, the core gross margin increased 120 basis points, including 40 basis points of negative currency impact.
Looking ahead the fiscal year 2020, the company expects all-in sales growth in the range of 3-4% versus the prior fiscal year. It also expects organic sales growth between 3-4%. It projects a GAAP diluted net earnings per share growth between 222-240%.
During the quarter ended March 31, the Yacktman Fund reduced its stake in the company by 10.6% to 4,915,000 shares.
o Martin Marietta Materials Inc. (NYSE:MLM) +6.8%
o D.R. Horton Inc. (NYSE:DHI) +5.6%
o Procter & Gamble Co. (NYSE:PG) +4.5%
o Mosaic Co. (NYSE:MOS) +4.4%
o CF Industries Holdings Inc. (NYSE:CF) +3.8%
o Gartner Inc. (NYSE:IT) -19.9%
o Under Armour Inc. (NYSE:UA) -14.3%
o HCA Healthcare Inc. (NYSE:HCA) -9.2%
o Corning Inc. (NYSE:GLW) -7.4%
o DISH Network Corp. (NASDAQ:DISH) -6.5%
The main European stock markets traded lower. The U.K.'s FTSE 100 lost 0.52%, France's CAC 40 slipped1.61%, Germany's Dax plummeted 2.18% and Spain's Ibex 35 fell 2.48%.
In Asia, Japan's Nikkei 225 gained 0.43%, India's BSE Sensex lost 0.77%, Hong Kong's Hang Seng advanced 0.14% and China's Shanghai Composite rose 0.39%.
Disclosure: The author holds no positions in any stocks mentioned.
Read more here:
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.
This article first appeared on GuruFocus.
- Warning! GuruFocus has detected 5 Warning Sign with PG. Click here to check it out.
- PG 15-Year Financial Data
- The intrinsic value of PG
- Peter Lynch Chart of PG