U.S. stocks were in the red on Tuesday, with electronic tech and commercial services stocks leading the decline. The Dow Jones Industrial Average fell 0.13% to 26,800, the S&P 500 index dipped 0.39% to 2,966 and the Nasdaq Composite Index slid 0.50% to 8,046.
Shares of Casey's General Stores Inc. (NASDAQ:CASY) gained about 1.5 % after announcing first - quarter results. The company posted earnings of $2.31 per share on $2.63 billion in revenue. The company beat earnings estimates by 25 cents and revenue expectations by $40 million .
"Quarterly results were positively impacted by our fuel price optimization initiative, store growth and a continued focus on controlling operating expenses," President and CEO Darren Rebelez said .
For the quarter, the g ross profit was $565.7 million, up 840 basis points year over year, and the gross margin expanded 130 points to 21.5%. O perating expenses increased 5.7% as a result of 76 more stores opened from the prior-year quarter .
By segment, grocery and other m erchandise sales grew 6.7% to $687.9 million and same-store sales rose 3.2%. In the prepared food and f ountain division, sales rose 5.3% to $295.9 million, while s ame-store sales jumped 1.6%.
Looking ahead, the c ompany maintained its fiscal 2020 guidance.
During the quarter ended June 30, Mario Gabelli ( Trades , Portfolio ) reduced his holding by 17% to 57,961 shares and Jim Simons ( Trades , Portfolio )' Renaissance Technologies curbed its position by 20% to 24,472 shares. Robert Olstein ( Trades , Portfolio ) sold out of the stock and Joel Greenblatt (Trades, Portfolio) boosted his position by 53% to 11,561 shares.
- Nektar Therapeutics Inc. (NASDAQ:NKTR) +10.5%
- LKQ Corp. (LKQ) +4.9%
- Sealed Air Corp. (NYSE:SEE) +5.5%
- Mosaic Co. (NYSE:MOS) +6.2%
- Albemarle Corp. (NYSE:ALB) +4.5%
- Chipotle Mexican Grill Inc. (NYSE:CMG) -7.0%
- SBA Communications Corp. (NASDAQ:SBAC) -5.0%
- Starbucks Corp. (NASDAQ:SBUX) -4.9%
- Aon PLC (NYSE:AON) -3.9%
Global m arkets
The main European stock markets traded in the green . The U.K.'s FTSE 100 advanc ed 0. 4 4 %, France's CAC 40 swelled 0 . 08 %, Germany's Dax rose 0. 35 % and Spain's IBEX 35 advanc ed 0. 75 %.
In Asia, Japan's Nikkei 225 gained 0 . 35 %, India's BSE Sensex climbed 0. 44 %, Hong Kong's Hang Seng rose 0. 01 % and China's Shanghai Composite slid 0. 12 %.
Disclo sure: The author holds no positions in any stocks mentioned.
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