Wall Street edged higher in Monday premarket trading as invertors are still looking at tax reform.
Shares of Dycom Industries Inc. (DY, Financial) jumped more than 5% in premarket trading after reporting financial results for the third quarter. The company posted EPS of 99 cents, beating estimates by nine cents. Revenue of $756.22 million beat expectations by $26.07 million, but decreased 5.4% year over year. Non-GAAP adjusted EBITDA reached $97.6 million, compared to $129.2 million in the year-ago quarter.
Further, the company announced its outlook for the fourth quarter. It expects total contract revenues to range from $645 million to $675 million. On a GAAP basis, diluted EPS is expected to be between 15 cents and 27 cents. Non-GAAP adjusted diluted EPS is expected to be between 24 cents and 36 cents.
Gainers
- Viacom Inc. (VIAB, Financial)
- Delphi Automotive PLC (DLPH, Financial)
- Wynn Resorts Ltd. (WYNN, Financial)
- Foot Locker Inc. (FL, Financial)
Losers
- Quest Diagnostics Inc. (DGX, Financial)
- Marathon Oil Corp. (MRO, Financial)
- Merck & Co. Inc. (MRK, Financial)
- Cardinal Health Inc. (CAH, Financial)
Global markets
The main European stock markets traded higher. The U.K.'s FTSE 100 gained 0.14%, Germany's DAX rose 0.68%, France's CAC 40 inched up 0.54% and Spain's IBEX 35 climbed 0.18%.
In Asia, Japan's Nikkei 225 slid 0.6%, while Hong Kong's Hang Seng closed up 0.21%, India’s BSE Sensex inched up 0.05% and China's SSE Composite jumped 0.28%.
Disclosure: The author holds no positions in any stocks mentioned.
