The US shares were in positive territory on Friday, ending with a volatile week with a few companies that report quarterly profits,The Dow Jones Industrial Average rose by 250 points to 24,802, the S & P 500 rose 1.06% to 2,670 and the Nasdaq Composite Index rose 1.36% to 7,169.
Shares of Western Digital Corp. (NASDAQ: WDC) jumped more than 4% on Friday after the company announced the results for the second quarter on Thursday. It reported earnings of 4.23 billion dollars, which reflects a decrease of 20.8% compared to the previous year and a decrease of 30 million dollars. Revenues were $ 1.45 per share, which also did not reach 5 cents.
"We are taking action to better align our cost and cost structure to short-term business conditions, while continuing to provide innovative solutions to drive our future success," said CEO Steve Miligan. and trust in our ability to take advantage of the long-term capabilities of data growth. "
Operating revenues reached $ 176 million. Excluding some adjustments, operating earnings that are not GAAP are $ 589 million.
The main European stock markets were mostly traded. While FTSE 100 on U.K declined by 0.14%, French CAC 40 jumped 1.11%, German Dax climbed 1.36% and Spanish IBEX 35 rose 0.38%.
In Asia, Japan's Nikkei 225 rose 0.97%, Indian BSE Sensex fell 0.47%, Hong Kong's Hang Seng advanced 1.65%, and Chinese Shanghai Composite rose 0.39%.
Disclosure: The author does not hold positions in the said shares.
About the author:
Omar Venerio is a professor in capital markets, derivatives, corporate finance and financial management. He is passionate about the stock market and provides independent fundamental research and hedge funds and focuses on insider trading.