CBRE Group Inc (CBRE shares) jumps more than 13%


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  • The S&P 500 Index saw a decisive rally after an initial slide.
  • Shares of CBRE Group Inc (CBRE: NYSE) posted strong gains on Thursday.

The S&P 500 Index (SPX) It opened in positive territory but was under modest downward pressure in early trading. However, after falling to its lowest level in over a month at 3,259, the SPX made a decisive bounce and was last seen gaining 1.48% on the day at 3,320.

S&P 500 Major Changes

CBRE Group Inc (CBRE: NYSE) reported adjusted quarterly earnings of 73 cents a share for the quarter that ended in September on Thursday and beat analysts’ estimate of 42 cents a share. Additionally, the company reported that revenue fell 4.7% to $ 5.65 billion, which also beat the market expectation of $ 5.30 billion. Fueled by this development, CBRE is up 13.9% on the day to $ 50.03 as the top daily profit percentage on Thursday.

Among the other best performers of the day, shares of Martin Marietta Materials Inc (MLM: NYSE), Twitter Inc (TWTR: NYSE) and Tapestry Inc (TPR: NYSE) were up 8%, 8.1% and 7.3%, respectively.

On the other hand, ABIOMED Inc (ABMD: NASDAQ) stock was down 8.3% on the day to $ 258 after the earnings summary. eBay Inc (EBAY: NASDAQ) and Fidelity National Information Services Inc (FIS: NYSE) 5.6% and 4.7% are the other big losers of the day.

Credits: Forex Street

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