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Wall Street Posts Gains on Tuesday

U.S. stocks were in the green on Tuesday after Federal Reserve Chair Jerome Powell said the central bank is monitoring the coronavirus outbreak. The Dow Jones Industrial Average fell 0.08% to 29,254, the S&P 500 Index rose 0.14% to 3,356 and the Nasdaq Composite Index advanced 0.07% to 9,634.

Non-index stocks have also posted gains and losses recently. After an initial pop, shares of Hasbro Inc. (NASDAQ:HAS) fell about 0.5% on Tuesday after the company announced fourth-quarter results. The toy company posted earnings of $1.24 per share, beating estimates by 32 cents. Revenue of $1.43 billion registered 2.9% year-over-year growth, but fell $20 million short of expectations.


"The global Hasbro team delivered a good year and achieved key objectives we set for 2019," CEO Brian Goldner said. "We profitably grew revenues across regions absent foreign exchange supported by the successful execution of our channel strategy; we delivered growth in MAGIC: THE GATHERING driven by the successful launch of Arena and we executed at a high level during the holiday season."

The revenue growth was due to a stronger demand for toys and other products related to Disney's "Frozen 2" and "Star Wars: The Rise of Skywalker" movies.

The operating profit for the quarter rose to $190.4 million, or 13.3% of revenue. Further, the adjusted operating profit was $208.2 million, or 14.6% of revenue, excluding $17.8 million of costs related with the eOne acquisition.

During the quarter ended Sept. 30, Louis Moore Bacon (Trades, Portfolio) trimmed his holding by 17% to 125,000 shares, while Jeremy Grantham (Trades, Portfolio) opened a new 2,211-share position.

Gainers

  • T-Mobile US Inc. (NASDAQ:TMUS) +12%
  • DaVita Inc. (NYSE:DVA) +7%
  • DISH Network Corp. (NASDAQ:DISH) +7%
  • FLIR Systems Inc. (NASDAQ:FLIR) +4.5%
  • American Tower Corp. (NYSE:AMT) +4.3%



Losers

  • Under Armour Inc. (NYSE:UAA) -19%
  • Masco Corp. (NYSE:MAS) -4%
  • Martin Marietta Materials Inc. (NYSE:MLM) -4.8%
  • Kimco Realty Corp. (NYSE:KIM) -3%
  • Sealed Air Corp. (SEE) -2.9%
  • Verizon Communications Inc. (NYSE:VZ) -2.4%



Global markets

The main European stock markets traded in the red. The U.K.'s FTSE 100 rose 0.71%, France's CAC 40 gained 0.65%, Germany's Dax swelled 0.99% and Spain's Ibex 35 advanced 0.68%.

In Asia, Japan's Nikkei 225 fell 0.60%, India's BSE Sensex gained 0.58%, Hong Kong's Hang Seng advanced 1.26% and China's Shanghai Composite increased 0.39%.

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

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This article first appeared on GuruFocus.