Wall Street in Red Over North Korea Concerns
- By Omar Venerio
U.S. stock market indexes opened in red due to new tensions with North Korea. The Dow Jones Industrial Average opened at 22,334.07 . The Standard & Poor's 500 opened at 2,497.26 and futures for the Nasdaq 100 index opened at 5,912.2. The dollar index is down 0.22% at 91.99, while the U.S. 10-year bond yields 2.254% and the German 10-year bond yields 0.46%.
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The intrinsic value of KMX
CarMax Inc. (KMX) opened more than 2.5% higher on the back of the company posting its financial results for the second quarter of its fiscal 2017. For the quarter, the company reported annual net sales increased 9.8% year over year to $4.39 billion, while EPS were 98 cents. Further, the company beat EPS expectations by three cents and revenue estimates of $4.26 billion.
Gainers
Anadarko Petroleum Corp. (APC)
SL Green Realty Corp. (SLG)
Best Buy Co. Inc. (BBY)
Coty Inc. (COTY)
Allergan PLC (AGN)
Losers
The Clorox Co. (CLX)
Global markets
The main European stock markets were mixed. The FTSE 100 and France's CAC 40 were up 0.64% and 0.30%. Germany's DAX and the IBEX 35 declined 0.02% and 0.03%.
In Asia, Japan's Nikkei 225, Hong Kong's Hang Seng Index, China's Shanghai Composite Index and India's BSE Sensex were down 0.25%, 0.82%, 0.16% and 1.38% respectively.
Disclosure: The author holds no positions in any stocks mentioned.
This article first appeared on GuruFocus.
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The intrinsic value of KMX