Wall Street Opens Higher Monday

U.S. stocks were in the green on Monday morning, reversing losses from Friday. The Dow Jones Industrial Average gained 0.35% to 29,205, the S&P 500 index jumped 0.39% to 3,340 and the Nasdaq Composite Index advanced 0.56% to 9,573.

Non-index stocks have also posted gains and losses recently.Shares of Loews Corporation (NYSE:L)gained more than 4% on Monday,after the company announces fourth-quarter results. The company posted earnings of 73 cents per share, in line with estimates. Revenue of$3.88 billion registered a 17.9% year-over-year growth.

The CNA’s earnings rose to higher net investment income and net investment gains and higher current year underwriting income driven mainly by lower catastrophe losses for the Property & Casualty business, which generated gross written premium growth of 8% and net written premium growth of 6%.

Further, the book value per share rose to $65.71 at the end of 2019 from $59.34 on Dec. 31, 2018. The company repurchased 8.3 million shares of its common stock in 2018 and 21.5 million shares in 2019 at an aggregate cost of $417 million and $1.1 billion, respectively.

During the quarter ended Dec.31, T Rowe Price Equity Income Fund (Trades, Portfolio) trimmed its holding by 0.3% to 3,400,000 shares and Diamond Hill Capital (Trades, Portfolio) reduced by 6% to 2,694,901 shares.

Gainers

• McKesson Corp (NYSE:MCK) +4.4%

• Abbvie Inc (NYSE:ABBV) +3.2%

• Under Armour Inc (NYSE:UA) +2.4%

• NVIDIA Corp (NASDAQ:NVDA) +2.3%

• Cardinal Health Inc (NYSE:CAH) +1.9%

Losers

• National Oilwell Varco Inc (NYSE:NOV) -3.8%

• Cimarex Energy Co (NYSE:XEC) -3%

• News Corp (NASDAQ:NWSA) -2.6%

• Concho Resources Inc (NYSE:CXO) -1.8%

• Abiomed Inc (NASDAQ:ABMD) -1.5%

Global Markets

The main European stock markets traded in the red. The UK.’s FTSE 100 fell 0.36%, France’s CAC 40 lost 0.26%, Germany’s Dax declined 0.19% and Spain’s Ibex 35 slid 0.03%.

In Asia, Japan’s Nikkei

Read More Here...

Bookmark the permalink.

Comments are closed.