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Home / Business / Dow deserves for the first time in 5 sessions as the government's closure seems unlikely

Dow deserves for the first time in 5 sessions as the government's closure seems unlikely



Here are 3 good things to know about stocks right now

  • The Dow Jones Industrial Average traded sharply higher on Tuesday after US legislators reached a preliminary agreement that would avoid another government's closure, and that was a sign of progress in an American trade deal with China.
  • Under Armor Inc. (UAA) earned 9 cents per share in the fourth quarter on an adjusted revenue basis of $ 1.39 billion, beating analysts' estimates on both bottom and top lines. The shares rose 4.5%.
  • Molson Coors Brewing Co. (TAP) was stronger than expected in the fourth quarter, but said that the financial statements for 2016 and 201
    7 had to be changed due to accounting errors related to income tax. Shares fell 9.44%.

Wall Street Overview

Stocks rose sharply on Tuesday, February 12, after lawmakers in Washington reached a preliminary agreement that would avoid a new government's suspension later this week.

Republican late Richard Shelby Alabama said a preliminary agreement had been reached with democratic legislators to fund the US government over the current fiscal year ending September. However, he noted that the deal did not include the $ 5.7 billion for border wall financing required by Donald Trump. However, the legislation must be written, but approved by both the House and the Senate, and signed by Trump, at midnight Friday, for a new closure this year to be avoided.

Investors also cheered positive signals from trade negotiations between Washington and Beijing. Trump said on Tuesday he would consider delaying the March 1 deadline for raising China tariffs if the US and China could soon reach a trade deal, CNBC reported.

Trump said he was open to let the deadline slip, but "didn't prefer to," reported CNBC. He also said Beijing "very much will make a deal" and he has a big team in China trying to reach a decision.

Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer are expected to arrive in Beijing on Thursday for higher-level discussions as dealers ran to meet the deadline when tariffs of $ 200 billion in China-made goods could increase to 25% from 10%.

Dow Jones Industrial Average jumped 372 points, or 1.5% to 25,426, S & P 500 rose 1.3%, and Nasdaq was up 1.46%. Dow closed lower Monday for a fourth consecutive session.

Under Armor Inc. (UAA), an adjusted 9 cents per share in the fourth quarter achieved revenue of $ 1.39 billion. Analysts expect a profit of 4 cents per share on revenue of $ 1.38 billion.

The company also confirmed that it expects earnings for the next fiscal year of 31 cents to 33 cents a share of revenue growth of 3% to 4%.

The shares rose 4.5%.

Molson Coors Brewing Co. (TAP) had a stronger than expected fourth-quarter profit, but noted that "material weakness" in the way it constituted deferred tax liabilities in 2016 and 2017 statements would mean a total of $ 247.7 million in retained earnings throughout 2017. [19659007] The shares fell 9.44%.

Electronic Arts Inc. (EA) rose 5.2% on Tuesday after closing at the highest level for nearly four months on Monday, as analysts continued to cite the surprising success of the multiplayer combat game "Apex Legends".

Results reports are expected after Tuesday's closing watch from EA competitor Activision Blizzard Inc. (ATVI) and Twilio Inc. (TWLO).

Shares in Coty Inc. (COTY) increased by 12.5% ​​to $ 10.87 on Tuesday after premium consumer brand investor JAB Holding Co. said it plans to increase its stake in the company by acquiring another 150 million Coty shares.

Aurora Cannabis Inc. (A CB), the Canadian cannabis manufacturer, reported a three-quarter loss of $ 237.8 million on revenues of $ 54.2 million compared to a year-earlier revenue of $ 7.7 million on revenue $ 11.7 million.

The company attributed revenue boosts its launch to the Canadian consumer market, reporting revenue of $ 21.6 million and international medical markets.

Shares of Aurora Cannabis were flat on Tuesday.

Aurora is one of three Canadian Cannabis companies reporting earnings this week. Tilray Inc. (TLRY) is scheduled to report fourth-quarter results Tuesday, while Canopy Growth Corp. (CGC) will be third quarter results on Thursday.

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