Monday Morning Market Highlights – GuruFocus.com

US Markets

U.S. shares had been within the purple on Monday morning. The Dow fell 0.01% to 28,603, the S&P 500 index misplaced 0.04% to three,482 and the Nasdaq Composite Index was down 0.03% to 11,668.

Gainers

• L Manufacturers Inc​ (NYSE:LB) +4.95%

• Kansas Metropolis Southern (NYSE:KSU) +3.7%

• Tapestry Inc (NYSE:TPR) +4%

• Freeport-McMoRan Inc (NYSE:FCX) +3.95%

• Basic Electrical (NYSE:GE) +2.3%

Losers

• EOG Assets Inc (NYSE:EOG) -1.7%

• VF Corp (NYSE:VFC) -1.1%

• Kimco Realty Corp (NYSE:KIM) -0.8%

• Martin Marietta Supplies Inc (NYSE:MLM) -0.8%

International Markets

The principle European inventory markets had been combined. The U.Ok.’s FTSE 100 fell 0.35%, France’s CAC 40 superior 0.24%, Germany’s Dax was down 0.22% and Spain’s Ibex 35 gained 0.12%.

In Asia, Japan’s Nikkei 225 gained 1.11%, India’s BSE Sensex superior 1.12%, Hong Kong’s Hold Seng jumped 0.64% and China’s Shanghai Composite was down 0.71%.

Halliburton releases earnings report

Shares of Halliburton Firm (HAL) gained greater than 2% on Monday morning after the corporate introduced monetary outcomes for its third quarter of fiscal 2020. It posted earnings per share of 11 cents, beating analyst´s estimates by 2 cents, on income of $2.98 billion, which declined 46.3% year-over-year and fell in need of expectations by $140 million.

Chairman, President and CEO Jeff Miller had the next to say:

“The basically totally different course we’re charting is having a constructive impression on our efficiency. Halliburton’s sturdy third quarter outcomes reveal that we’re successfully executing on our strategic priorities…Complete firm income was about $3.Zero billion and adjusted working revenue was $275 million. We improved our margin efficiency each internationally and in North America and are on observe to generate over $1.Zero billion in free money move for the 12 months.”

Within the third quarter, the Completion and Manufacturing income reached $1.6 billion, a lower of $98 million, or 6%, when in comparison with the identical quarter of 2020. This discount was pushed by lowered completion device gross sales throughout Europe and Africa, the Gulf of Mexico and Latin America, in addition to decrease cementing exercise within the Center East, Asia and North America.

Drilling and Analysis income was $1.Four billion, down $123 million, or 8%, when in comparison with the second quarter of 2020. The decline was provoked by lowered drilling-related and wireline companies in North America and the Japanese Hemisphere. The working revenue was $105 million, which was down $22 million, or 17%, over the identical interval.

By geographic areas, North America income was $984 million, a 6% lower when in comparison with the second quarter of 2020 resulting from a decline in nicely development exercise in U.S. land. Worldwide income reached $2.Zero billion, a 7% lower when in comparison with the second quarter of 2020, as a consequence of lowered nicely development and undertaking administration exercise within the Center East and Asia. In Latin America, income was $380 million, a 10% enhance sequentially, from elevated exercise in Argentina, Colombia and Mexico. In Europe and Africa, income was $649 million, a 6% lower sequentially, resulting from decrease completion device gross sales throughout the area, lowered drilling-related companies in Norway and a decline in fluids and cementing exercise in Russia. Center East/Asia income was $962 million, a 13% lower sequentially, resulting from scale back nicely development exercise and decrease undertaking administration and wireline exercise in India.

On the finish of September, the T Rowe Value Fairness Earnings Fund (Trades, Portfolio) minimize its funding within the inventory by 8% to five,825,000 shares.

Disclosure: The creator holds no positions in any shares talked about.

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Concerning the creator:

Omar Venerio

Omar Venerio is a capital markets, derivatives, company finance and monetary administration professor and Space Head of Finance. He’s passionate in regards to the inventory market and offering impartial elementary analysis and hedge fund and insider trading-focused investigation.

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