The U.S. stock market fell on Friday, with investors paying attention to the G-7 meeting today and the U.S. tariffs on steel and aluminum imports.
Shares of Zumiez Inc. (ZUMZ, Financial) jumped on Friday trading after the company posted a first-quarter loss of 10 cents on revenue of $206.29 million, which was 13.9% higher than the comparable period. The company beat revenue expectations by $6.95 million and earnings by 2 cents.
Rick Brooks, CEO of Zumiez Inc., said: “With comparable sales increasing 8.3%, we generated significant expense leverage and dramatically improved our bottom line performance year-over-year.”
Looking ahead, the company expects for the second quarter net sales to be in the range of $213 million to $217 million. Also, it projects consolidated operating margins to be between 1.2% and 2.0%, with net income per share in the range of 4 to 9 cents.
Gainers
• Philip Morris International Inc. (PM, Financial)
• DISH Network Corp.”‹ (DISH, Financial)
• Colgate-Palmolive Co. (CL, Financial)
Losers
• Broadcom Inc. (AVGO, Financial)
• Qorvo Inc. (QRVO, Financial)
• Ulta Beauty Inc. (ULTA, Financial)
• Micron Technology Inc. (MU, Financial)
Global markets
The main European stock markets traded mixed. The U.K.'s FTSE gained 0.09% and France's CAC advanced 0.06%, while Spain's Ibex retreated 0.79% and Germany's Dax closed down 0.24%.
In Asia, markets closed in the red. Japan's Nikkei fell 0.56%, Hong Kong's Hang Seng lost 1.76%, India’s BSE Sensex dipped 0.05% and China´s Shanghai slid 1.36%.
Disclosure: The author holds no position in any stocks mentioned.
