In the United States, non-agricultural job openings in October reached 638,000, marginally more than the consensus of 580,000 jobs and 672,000 jobs created in September and 1.49 million in August. The U.S. unemployment rate dropped more than expected, declining from 7.9 percent in September to 6.9 percent in October. In March-April, the coronavirus crisis resulted in 21 million job losses in the United States, of which just over half, or 12 million, have since been restored. Better-than-expected results from some of the stocks also added to the news of positive outlook news for the U.S. markets.
The Hershey Co (HSY) was up 3.3 percent on Friday as it beat the consensus on revenue and earnings in the third quarter. The chocolate and candy giant posted a profit of $447 million, or $2.14 per share, compared to that of $325 million a year earlier. Adjusted income was $1.86 per share versus consensus of $1.74 per share for the same. Revenues increased 4 percent year-on-year to $2.22 billion, relative to the FactSet consensus of $2.18 billion. The group is restoring guidance and planning an annual adjusted income for 2020 ranging from $6.18 to $6.24, which met expectations.
Take-Two Interactive Software, Inc. (TTWO) was up 3.8 percent on Friday, after posting stronger-than-expected quarterly revenue and income. The video game publisher on Friday also increased its annual sales forecast. As a result, for the second fiscal year, the company met the earnings and sales consensus. Earnings were $2.04 per share against $1.45 consensus. A year earlier quarter has that of $1.89 per share. The publisher of ‘Grand Theft Auto’ posted $957 million in sales, up from $950 million a year ago.
The Walt Disney Company (DIS) was up 0.39 percent on Friday. The American media and film a studio company, for the time being, has given up the release of the movie ‘Death on the Nile’ that was due to arrive in cinemas during the holiday season.
However, Ford Motor Company (F) slipped -2.5 percent on Friday with the likely start of the recovery of the local auto industry with more job creation in months ahead to boost productions. The U.S. group’s joint ventures in China also posted solid year-on-year revenue growth in October.