USFD - S&P 500 Gains 0.5%; US Foods Shares Rise After Q4 Results | Benzinga
U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 250 points on Thursday.
The Dow traded up 0.75% to 38,713.88 while the NASDAQ rose 0.22% to 15,894.39. The S&P 500 also rose, gaining, 0.52% to 5,026.65.
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Leading and Lagging Sectors
Energy shares rose by 2% on Thursday.
In trading on Thursday, information technology shares fell by 0.6%.
Top Headline
Shares of US Foods Holding Corp. (NYSE: USFD) gained around 3% on Thursday after the company reported better-than-expected fourth-quarter revenue results and issued FY24 net sales guidance above estimates.
US Foods reported fourth-quarter revenue of $8.936 billion, beating the street view of $8.791 billion. Net sales increased 4.9% year over year. Quarterly adjusted diluted earnings per share increased 16.4% to 64 cents, missing the street view of 67 cents.
For FY24, the company sees net sales of $37.5 billion to $38.5 billion (estimate: $37.32 billion), with adjusted EPS of $3.00-$3.20 (estimate: $3.23).
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