The S&P 500’s top gainers on July 18 were:
W.W. Grainger, which provides industrial supplies and equipment, was the S&P 500’s top gainer on July 18. W.W. Grainger rebounded last week and broke the three-week losing streak. However, W.W. Grainger started this week on a weaker note by declining on Monday. The stock regained strength as the week progressed and moved higher. On July 18, W.W. Grainger opened higher and rose to a fresh record high price levels.
Strong second-quarter earnings
The buying pressure in W.W. Grainger increased on Wednesday amid the release of the stronger-than-expected second-quarter earnings report. According to management, the EPS in the second quarter was $4.16, which is better than the expected EPS of $3.44. The second-quarter revenues rose 9.4% YoY to $2.86 billion.
Management upgraded the 2018 sales outlook from $10.9 billion–$11.3 billion to $11.0 billion–$11.3 billion. The fiscal EPS outlook was upgraded from $14.30–$15.30 to $15.05–$16.05. Management said that the operating leverage drove the profitability in the second quarter. The operating leverage was the main reason behind upgrading the 2018 guidance.
On July 18, W.W. Grainger gained 11.16% and closed the day at $338.99—a record high price level. W.W. Grainger is part of the S&P 500 Industrial sector. The industrial sector was the S&P 500’s second-best sector on July 18 with a gain of 1.13%.
Next, we’ll discuss the S&P 500’s top losses on July 18.