U.S. stocks were in the red on Friday on the back of concerns over the coronavirus slowing China’s economic growth. The Dow Jones Industrial Average fell 0.91% to 29,113, the S&P 500 index slid 0.53% to 3,327 and the Nasdaq Composite Index dipped 0.57% to 9,517.
Non-index stocks have also posted gains and losses recently. Shares of T-Mobile US Inc. (NASDAQ:TMUS) gained more than 3% on Friday after announcingfourth-quarter results on Thursday. The company posted earnings of 87 cents per share, beating estimates by 4 cents. Revenue of $11.88 billion beat expectations by $60 million.
“T-Mobile continues to deliver incredible results quarter after quarter,” CEO John Legere said. “In Q4 we set new financial records across the board and recorded our 27th consecutive quarter with over 1 million total net customer additions.”
For the quarter, the total net customer additions was 1.9 million, bringing the total number of customers to86 million. For full-year 2019, total net customer additions were 7 million.
Further, the branded postpaid net customer additions were 1.3 million and the branded postpaid phone net customer additions were 1 million. Branded postpaid other net customer additions were 313,000.
Looking ahead to2020, the company expects adjusted Ebitda to be in the range of $13.7 billion to $14 billion, and the free cash flow is expected to be between $5.4 billion and $5.8 billion.
The main European stock markets traded in the red. The U.K.’s FTSE 100 fell 0.51%, France’s CAC 40 lost 0.14%, Germany’s Dax declined0.45% and Spain’s Ibex 35 was flat.
In Asia, Japan’s Nikkei 225 slid 0.19%, India’s BSE Sensex lost 0.40%, Hong Kong’s Hang Seng declined 0.33% and China’s Shanghai Composite gained 0.33%.
Disclosure:The author holds no positions in any stocks mentioned.
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