U.S. stocks were positive on Monday morning on strong retail sales, which rose 0.2% in January. The Dow Jones Industrial Average advanced 0.64% to 25,631, the S&P 500 index rose1.23% to 2,782 and the Nasdaq Composite Index climbed 1.82% to 7,556.
Shares of Century Casinos Inc. (NASDAQ:CNTY) jumped nearly 4% on Monday morning after the company announced fourth-quarter results. Revenue grew 14.8% from the prior-year quarter to $45.1 million, beating expectations by $2.7 million. Earnings of 2 cents per share fell 4 cents short of analysts’ estimates.
“This quarter we continued to see revenue growth in each of our segments and ended the year growing revenue by 10%,” Co-CEOs Erwin Haitzmann and Peter Hoetzinger said in a press release. “We are pleased with this growth, especially with the longer-than-expected casino closures in Poland due to licensing delays, which we estimate negatively impacted net operating revenue by $9.8 million.”
Further, adjusted earnings before interest, taxes, depreciation and amortization reached $5.8 million, an increase of 7% from the prior-year quarter.
The main European stock markets higher. The U.K.’s FTSE 100 gained 0.37%, France’s CAC 40 rose 0.66%, Germany’s Dax swelled 0.75% and Spain’s IBEX 35 advanced 0.47%.
In Asia, Japan’s Nikkei 225 inched up 0.47%, India’s BSE Sensex climbed 1.04%, Hong Kong’s Hang Seng gained 0.97% and China’s Shanghai Composite rose 1.92%.
Disclosure: The author holds no positions in any stocks mentioned.
About the author:
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.