U.S. markets closed

World Markets Rebound on Monday

U.S. stocks were in the green on Monday. The Dow Jones Industrial Average gained 2.93% to 26,146, the S&P 500 Index rose 2.55% to 3,028 and the Nasdaq Composite Index climbed 2.53% to 8,781.

Non-index stocks have also posted gains and losses recently. Shares of Core-Mark Holding Co. Inc. (NASDAQ:CORE) jumped 17% on Monday after the company announced fourth-quarter results. The company posted earnings of 45 cents per share, beating estimates by 6 cents. Revenue of $4.15 billion registered 1.5% year-over-year growth and beat expectations by $20 million.


"Our results in 2019 reflect successful execution of our key strategic priorities, including non-cigarette sales growth, margin expansion and cost leverage," CEO Scott E. McPherson said. "I am pleased with our performance in 2019 and positioning as we enter 2020. We are focused on generating quality revenue growth, continued margin expansion, along with leveraging our cost structure and strong balance sheet to bring meaningful returns to our shareholders."

The gross profit rose 6.2% to $230.5 million, up from $217 million in the prior-year quarter. The gain was mostly due to an increase in non-cigarette sales to existing customers and net market share gains. Further, the gross profit margin inched up 24 basis points to 5.55% of total net sales from 5.31% for the same period in 2018.

Moreover, the adjusted earnings before interest, taxes, depreciation and amortization rose 23.8% to $48.3 million.

Looking ahead to full-year 2020, the company expects net sales to be between $16.9 billion and $17.1 billion. It also projects adjusted Ebitda in the range of $190 million to $200 million.

During the quarter ended Dec. 31,Chuck Royce (Trades, Portfolio) trimmed his holding by 43% to 31,543 shares and Jeremy Grantham (Trades, Portfolio) reduced his position by 1% to 308,089 shares .Joel Greenblatt (Trades, Portfolio) trimmed his holding by 73% to 8,476 shares.

Gainers

  • Equifax Inc. (NYSE:EFX) +4.5%
  • Iron Mountain Inc. (NYSE:IRM) +4%
  • Duke Energy Corp. (NYSE:DUK) +3.9%
  • Kraft Heinz Co. (NASDAQ:KHC) +3.5%
  • Incyte Corp. (NASDAQ:INCY) +3.4%
  • Centurylink Inc. (NYSE:CTL) +3.0%



Losers

  • MGM Resorts International (NYSE:MGM) -0.6%
  • Marathon Oil Corp. (NYSE:MRO) -0.6%
  • Capri Holdings Ltd. (NYSE:CPRI) -4.1%



Global markets

The main European stock markets traded mostly in the green.The U.K.'s FTSE 100 gained 1.13%, France's CAC 40 rose 0.44%, Germany's Dax declined 0.27% and Spain's Ibex 35 increased 0.21%.

In Asia, Japan's Nikkei 225 swelled 0.95%, India's BSE Sensex slid 0.4%, Hong Kong's Hang Seng advanced 0.62% and China's Shanghai Composite climbed 3.15%.

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

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This article first appeared on GuruFocus.