Wall Street Green Wednesday
U.S. stocks were in the green on Wednesday. The Dow Jones Industrial Average rose 0.61% to 26,970, the S&P 500 index advanced 0.62% to 2,984, and the Nasdaq Composite index increased 1.05% to 8,077.
Shares of Cintas Corp. (NASDAQ:CTAS) gained more than 5.5% on Wednesday, after announcing first-quarter results. The company posted earnings of $2.32 per share on revenue of $1.81 billion. It beat earnings estimates by 17 cents and revenue by $20 million.
In the trimester, revenue increased 6.7% over last year's first quarter. Further, gross profit was $849.1 million, an increase of 9.6%. The gross margin, as a percentage of revenue, was 46.9% compared to 45.6%.
Moreover, operating income was $306.1 million, an increase of 15.4% from last year's first quarter when it was $265.2 million. And as a percentage of revenue, it reached 16.9%, compared to 15.6%.
Looking ahead, the company expects annual revenue in a range of $7.28 billion to $7.32 billion and earnings per share in a range of $8.47 to $8.57.
During the quarter ended June 30, Jim Simons (Trades, Portfolio) bought 56,868 shares of the company and Paul Tudor Jones (Trades, Portfolio) established a new position with 12,307 shares. On the other hand, Ray Dalio (Trades, Portfolio) sold out the stock, as well as First Eagle Investment (Trades, Portfolio).
Gainers
oMarathon Petroleum Corp. (NYSE:MPC) +8.4%
oCintas Corp. (NASDAQ:CTAS) +5.7%
oPhilip Morris International Inc. (NYSE:PM) +5.2%
oNike Inc. (NYSE:NKE) +4.2%
oNational Oilwell Varco Inc. (NYSE:NOV) +3.3%
Losers
oCimarex Energy Co. (NYSE:XEC) -2.7%
oHumana Inc. (NYSE:HUM) -2.7%
oEOG Resources Inc. (NYSE:EOG) -2.3%
oCabot Oil & Gas Corp. (NYSE:COG) -2%
oMedtronic PLC (NYSE:MDT) -1.9%
Global markets
The main European stock markets traded in the red. The U.K.'s FTSE 100 retreated 0.02%, France's CAC 40 lost 0.79%, Germany's Dax swelled 0.59% and Spain's Ibex 35 declined 0.36%. In Asia, Japan's Nikkei 225 fell 0.36%, India's BSE Sensex declined 1.29%, Hong Kong's Hang Seng dipped 1.28% and China's Shanghai Composite slipped 1.0%.
Disclosure: The author holds no positions in any stocks mentioned.
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Wall Street Turns Red on Friday
US Markets Green on Thursday
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This article first appeared on GuruFocus.
