Yahoo Finance Friday Morning Market Highlights
US markets
U.S. stocks were mainly in the green on Friday morning amid news that Gilead Sciences, Inc. (NASDAQ:GILD)?s remdesivir treatment reduced the risk of death for Covid-19. The Dow was up more than 150 points to 25,864, the S&P 500 index gained 0.28% to 3,160 and the Nasdaq Composite Index was down 0.09% to 10,538.
Gainers
o Carnival Corporation & Plc (NYSE:CCL) +8.6%
o Royal Caribbean Cruises Ltd. (NYSE:RCL) +6.5%
o Norwegian Cruise Line Holdings Ltd. (NCLH) +5%
o Marathon Petroleum Corporation (NYSE:MPC) +5.1%
Losers
o Synopsys, Inc. (NASDAQ:SNPS) -2.9%
o Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) -2.5%
o Square, Inc. (NYSE:SQ) -2.5%
o MarketAxess Holdings Inc. (NASDAQ:MKTX) -2%
Global markets
The main European stock markets traded in the green. The UK's FTSE 100 gained 0.81%, France's CAC 40 advanced 0.91%, Germany's Dax was up 1.09% and Spain's Ibex 35 jumped 1.14%.
In Asia, Japan's Nikkei 225 fell 1.06%, India's BSE Sensex lost 0.39%, Hong Kong's Hang Seng retreated 1.84% and China's Shanghai Composite was down 1.95%.
PriceSmart releases earnings report
Shares of PriceSmart, Inc. (NASDAQ:PSMT) gained more than 6% on Friday morning after the company announced its fiscal third-quarter results the previous day. The company posted earnings per share of 41 cents, beating analysts' estimates by 19 cents. Revenue of $799.93 million grew 1.4% year-over-year and beat expectations by $106.48 million.
CEO Sherry S. Bahrambeygui had the following to say:
"During the third quarter of fiscal year 2020, our Company has traversed an extraordinary arc that started with responding to unexpected challenges and quickly evolved to strengthening our business for the future... Our Company then led the way in best practices in-country to strive to keep our members and the public safe. We focused on collaborating with our vendors and suppliers to protect the supply chain and maximize availability of essential goods needed by our Members. ... As a result, we launched our Click & Go(TM) program, which enables online orders with curbside pick-up and minimal contact, to meet the immediate demands of our Members... We believe the technology, business infrastructure, processes, and platforms that support the Click & Go(TM) program strengthens our foundation for growth."
The operating income was $24.0 million, higher than $22.0 million in the prior-year quarter.
Pioneer Investments (Trades, Portfolio) added 3% to its investment in the company for a total of 3,100 shares. Jim Simons (Trades, Portfolio) and Joel Greenblatt (Trades, Portfolio) sold out the stock.
Disclosure: The author holds no positions in any stocks mentioned.
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This article first appeared on GuruFocus.
