PHG - S&P 500 Edges Higher; ON Semiconductor Earnings Top Views | Benzinga
U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite gaining around 0.1% on Monday.
The Dow traded up 0.19% to 38,313.56 while the NASDAQ rose 0.13% to 15,948.81. The S&P 500 also rose, gaining, 0.10% to 5,105.25.
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Leading and Lagging Sectors
Consumer discretionary shares rose by 1.9% on Monday.
In trading on Monday, communication services shares fell by 1.7%.
Top Headline
ON Semiconductor Corp (NASDAQ:ON) reported better-than-expected first-quarter results.
ON Semiconductor reported a fiscal first-quarter 2024 revenue decline of 5% year-on-year to $1.86 billion, beating the consensus of $1.85 billion. The adjusted EPS of $1.08 beat the consensus of $1.04.
ON Semiconductor expects second-quarter adjusted revenue of $1.68 billion – $1.78 billion, below the consensus of $1.92 billion. The company sees adjusted EPS of $0.86 – $0.98 versus the consensus of $1.10.
Equities Trading UP