U.S. equities were soaring as crude oil moved higher and the dollar was mixed.. The S&P 500 Index gained 1.1%, the Dow Jones Industrial Average surged 1.4% and the Nasdaq Composite increased 1% Monday.
In the end, the Dow Jones Industrial Average gained 1.4%, the S&P 500 gained 1.1%, the Nasdaq Composite gained 1% and the Russell 2000 gained 0.8%. Treasury bonds were mixed, the dollar was mixed, gold lost a touch, and crude oil moved higher. Breadth was heavily positive, with advancers outpacing decliners by a 2.8-to-1 ratio.
Here’s what you should know:
Descartes Systems Group Inc (USA) (DSGX)
Descartes Systems Group reported its latest quarterly results late Monday.
The company unveiled net income of $6.7 million, marking a 10% increase compared to the $6.1 million it earned during the year-ago period. Earnings per share came in at 9 cents per share, a 13% gain year-over-year.
On an adjusted basis, Descartes Systems Group brought in $21.4 million, a 16% increase compared to the year-ago quarter of $18.5 million. Adjusted earnings amounted to 34% of the company’s revenue.
The global logistics technology solutions provider raked in revenue of $63.6 million for the period, a 20% surge compared to the year-ago quarter of $52.8 million, and 3% higher than the previous quarter.
DSGX gained 0.2% after the bell Monday.
Nordstrom, Inc. (JWN)
Nordstrom was unable to complete its bid to go private.
A special committee that has been advising the company’s board said Monday that it has rejected the proposal from the Nordstrom family to take it private; the offer was of $50 a share.
The group trying to take the company private is made up of Nordstrom family members, which own about 31.2% of Nordstrom. They have been working to take the retailer private since last year.
The group hired a special committee to help bring the proposition to fruition. The special committee to the board said that the family group need to improve its offer price by a substantial margin, or else it will end discussions.
YY Inc (ADR) (YY)
YY also unveiled its latest quarterly results late Monday.
The China-based developer of Internet live-streaming services announced revenue of $557.4 million, which came in ahead of the Wall Street consensus estimate of $551 million, while also growing 46% in local currency year-over-year.
YY also impressed on the earnings front as the company amounted an adjusted profit of $2.27 per American depository share, a 45% gain compared to the year-ago quarter, while also topping analysts’ expectations of $1.84 per share.
The company’s revenue from live-streaming was a big part of its total revenue, reaching $517.7 million, which was a 52% improvement compared to the company’s year-ago quarter.
YY stock grew 3.4% after hours yesterday.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.