U.S. stocks were in the green on Monday after President Trump said China wants to negotiate on trade. The Dow Jones Industrial Average gained 0.87% to 25,852, the S&P 500 Index rose 0.86% to 2,871 and the Nasdaq Composite Index advanced 1.10% to 7,837.
Shares of Foot Locker Inc. (FL, Financial) climbed more than 4.5% on Monday after announcing second-quarter results on Friday. The company posted earnings of 66 cents per share on $1.77 billion in revenue, reflecting a 0.6% decline from the prior-year quarter. The company fell 1 cent short of earnings estimates $60 million short of revenue expectations.
"While our results in the second quarter did come in at the low end of our expectations, we saw improvement in our performance as we moved through each month of the quarter," President and CEO Richard Johnson said.
Further, the company repurchased 2.9 million shares for $120 million and paid a quarterly dividend of 38 cents per share, totaling $41 million.
During the quarter ended June 30, Philippe Laffont established a position, buying 31,229 shares. Richard Pzena (Trades, Portfolio) boosted his holding by 0.05% to 233,396 shares and Ray Dalio (Trades, Portfolio) increased his position by 1,003% to 604,050 shares.
Gainers
- DISH Network Corp. (DISH, Financial) +3.7%
- CenturyLink Inc. (CTL, Financial) +3.3%
- Celgene Corp. (CELG, Financial) +2.8%
- Deere & Co. (DE, Financial) +2.6%
Losers
- L Brands Inc. (LB, Financial) -3.6%
- Gap Inc. (GPS, Financial) -3.3%
- Philip Morris International Inc. (PM, Financial) -4.6%
- Rockwell Automation Inc. (ROK, Financial) -2.3%
- Alliance Data Systems Corp. (ADS, Financial) -2.5%
Global markets
The main European stock markets traded mostly higher. The U.K.'s FTSE 100 dipped 0.47%, France's CAC 40 rose 0.45%, Germany's Dax swelled 0.40% and Spain's Ibex 35 gained 0.34%.
In Asia, Japan's Nikkei 225 tumbled 2.17%, India’s BSE Sensex jumped 2.16%, Hong Kong's Hang Seng fell 1.91% and China's Shanghai Composite declined 1.17%.
Disclosure:The author holds no positions in any stocks mentioned.
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