Stocks Gain In Early Trading
U.S. stocks were trading higher in early-trade on Tuesday as investors cheered a set of better-than-expected Chinese economic data releases even as Syria accepted Russia’s proposal to put its chemical weapons program under international control, possibly averting a U.S. military intervention against Assad’s regime.
Shares of Palo Alto Networks Inc. (NYSE: PANW) gained sharply in early-trade. The internet security solutions provider, after the market close on Monday reported adjusted earnings of 6 cents a share, which was in-line with expectation. Revenue topped Wall Street’s estimate. The only concern was a rise in operating expenses, in the latest quarter.
Shares of McDonald’s Corporation (NYSE: MCD) edged up in early-trade. The world’s leading fast food chain said that same-store-sales increased 1.9% in August, beating analysts’ forecast for 0.4% gain. Although U.S. sales were short of analysts’ expectation, sales from Europe comfortably edged past estimation.
In some corporate news, Apple Inc. (NASDAQ: AAPL) is expected to unveil some new products on Tuesday at 1 p.m. EST. The event is hosted at its Cupertino, Calif. headquarters.
Shares of Delta Airlines Inc. (NYSE: DAL) edged higher in early-trade. The stock was included in the Standard’s & Poor’s 500 Index, after the market close on Monday.
In China, factory activities expanded at a faster-than-expected pace in August while retail sales also rose at a better-than-expected rate in the same period. China’s benchmark Index; the Shanghai Composite Index gained 1.15%.