U.S. and Europe stocks advanced Tuesday, after Boris Johnson beat Jeremy Hunt to become Britains next prime minister. Health services (up 15.4%), commercial (up 10.4%) and tech (up 8.2%) are among the sectors with strongest gains. The Dow Jones Industrial Average gained 0.31% to 27,256, the S&P 500 index gained 0.28% to 2,993, and the Nasdaq Composite Index rose 0.16% to 8,217.

Shares ofThe Sherwin-Williams Co. (SHW) gainedmore than6%afterannouncingsecond-quarter results. Thecompany posted earnings of$6.57per share and revenues of $4.88billion, reflecting a2.3%declinefrom the comparable trimester of the previous year. The company beat earnings estimates by21centsbut fell shortof revenue expectations by $60million.

Sherwin-Williams delivered record results in net sales, Ebitda, profit before taxes and net operating cash in the second quarter, overcoming uneven demand in end markets outside the U.S. and persistently challenging selling conditions in North American architectural paint markets,John G. Morikis, Sherwin-Williams chairman and CEO, said.

By segments, the Americas segment had net salesof$2.76 billion, up5% year-over-year, due tohigher paint sales volume across all end markets in North American stores. Inthe Consumer Brands segment, net salesincreased3.4% to $804.5 milliondue toa new customer program and higher selling prices.Net sales in Performance Coatings fell 3.8% to $1.32 billion.

Looking ahead to thethird quarter,the company expectsconsolidated net salestoincrease by a low single-digit percentage compared tothe samequarter a year ago. For the full year 2019,the companyexpectsconsolidated net sales will increase2-4%compared to the full year 2018. Adjusted diluted net income per shareis expectedto bebetween $20.40 and$21.40 per share.

During the quarter endedMarch 31,Tom GaynerTradesPortfolio)increased his position in the company182% to31,000sharesandJoel GreenblattTradesPortfolio) added 35% to 6,531 shares.Steven CohenTradesPortfolio)reducedhisholding by95% to3,802shares, andRon BaronTradesPortfolio)trimmedhis positionby32% to13,485shares.

Avery Dennison Corp. (NYSE:AVY) + 4.98%

Lamb Weston Holdings Inc. (NYSE:LW) -4%

The main European stock markets tradedmostly higher. The U.K.s FTSE 100rose0.70%, Frances CAC 40inched up1.12%, Germanys Daxgained1.81% and Spains Ibex 35rose1.32%.

In Asia, Japans Nikkei 225gained0.95%, Indias BSE Sensexlost0.13%, Hong Kongs Hang Sengadvanced0.34% and Chinas Shanghai Compositegained0.45%.

Disclosure:The author holdsno positions in any stocks mentioned.

Not a Premium Member of GuruFocus? Sign up for afree 7-day trial here.

Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor and Area Head of Finance. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

GuruFocus has detected 7 Warning Signs with Sherwin-Williams Co SHW.

Performances of the stocks mentioned by Omar Venerio

Oakmark Funds Commentary: The Intelligence Trap

First Eagle Commentary – International Equity: Selectivity in a Vast and Varied Market

Davis Financial Fund: Interview With Chris Davis, Portfolio Manager

Daniel Loebs Top 5 Holdings as of the 2nd Quarter

Park West Asset Management LLC Buys SciPlay Corp, Univar Solutions Inc, Nexstar Media Group Inc, Sells First Solar Inc, Lithia Motors Inc, Activision Blizzard Inc

Gladstone Capital Management LLP Buys Nike Inc, Square Inc, Alibaba Group Holding, Sells Alphabet Inc, Tenable Holdings Inc, Amarin Corp PLC

Cigna Corp (CI) President & CEO David Cordani Bought $5 million of Shares

Interview: Bill Nygren & Win Murrays Answers to Your Investing Questions, Part II

Interview: Bill Nygren & Win Murrays Answers to Your Investing Questions, Part I

Interview: Xavier Brun on Dealing With Uncertainty

Bill Nygren and Win Murray Taking GuruFocus Reader Questions

Retail Cigar Butts: The Whole Culture Has Changed

Joel Greenblatt: The Problem With Most Active Managers

2 Pieces of Investing Wisdom From Joel Greenblatt

Your selection and notes will be stored in yourportfolio.

GuruFocus Affiliate Program: Earn up to $400 per referral. (Learn More)

Disclaimers: m is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.