U.S. stocks were in the green on Monday, reversing Friday's decline. The Dow Jones Industrial Average rose 0.48% to 26,949, the S&P 500 index gained 0.56% to 2,978 and the Nasdaq Composite Index swelled 0.76% to 7,999.
Shares of Thor Industries Inc. (THO, Financial) gained more than 16% on Monday after announcing fourth-quarter results. The company posted earnings of $1.67 per share on $2.31 billion in revenue. The company beat earnings estimates by 27 cents, but fell $40 million short of revenue expectations.
During the quarter, the gross margin rose 140 basis points to 14.4% due to improvements in product mix, labor and warranty costs. It was up from 13% in the prior-year quarter.
Further, the consolidated net cash provided by operating activities was $508 million compared to $467 million for the same period in 2018. The cash flow was principally used to reduce the debt incurred to execute the EHG acquisition.
Looking ahead, President and CEO Bob Martin said he sees "many reasons for optimism as we leverage the global growth opportunities of EHG."
"Our confidence was reinforced at the recent DĂĽsseldorf Caravan Salon in late August, the Hershey RV show in mid-September and our Open House event held last week," he added. "Each of these important events were well attended and reflected the current optimistic sentiment of our independent dealers and consumers."
During the quarter ended June 30,Ă‚ Mario Gabelli (Trades, Portfolio) boosted his holding by 60% to 6,400 shares and Jim Simons (Trades, Portfolio) increased his position 147% to 412,500 shares.On the other hand, Chuck Royce (Trades, Portfolio) reduced his holding by 44% to 182,376 shares, while Steven Cohen (Trades, Portfolio) sold out of the stock.
Gainers
- L Brands Inc. (LB, Financial) +3.4%
- Marriott International Inc. (MAR, Financial) +3.1%
- Newell Brands Inc. (NWL, Financial) +2.8%
- Chipotle Mexican Grill Inc. (CMG, Financial) +2.7%
- Advance Auto Parts Inc. (AAP, Financial) +2.4%
Losers
- National Oilwell Varco Inc. (NOV, Financial) -3.7%
- Marathon Petroleum Corp. (MPC, Financial) -2.6%
- NetApp Inc. (NTAP, Financial) -2.6%
- Macerich Co. (MAC, Financial) -2.2%
- CME Group Inc. (CME, Financial) -1.2%”‹
- Occidental Petroleum Corp. (OXY, Financial) -1.5%
Global markets
The main European stock markets traded mostly in the green. The U.K.'s FTSE 100 declined 0.24, France's CAC 40 inched up 0.66%, Germany's Dax rose 0.38% and Spain's IBEX 35 advanced 0.66%.
In Asia, Japan's Nikkei 225 fell0.56%, India’s BSE Sensex slid 0.40%, Hong Kong's Hang Seng advanced 0.53% and China's Shanghai Composite lost 0.92%.
Disclosure:The author holds no positions in any stocks mentioned.
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