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February 23, 2023
Sun Communities, Inc., ANSYS Inc, APA Corporation are the ones to read about today.
Leading equity indices in the US rose as Nasdaq ended the session at 11,600 after a 0.72% gain. S&P 500 gained 0.53% and closed at 4,012.32.
3Rd quarter earnings season is mostly over, with Pioneer Natural Resources Co & NetApp Inc releasing their earnings reports just this week.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. Usually, these reports are released four times a year (quarterly reports) and have a significant impact on the market. These announcements are typically taken into consideration when making predictions.
Markets were up and stocks have released their quarterly earnings reports. Have a look.
Sun Communities: mixed results
Sun Communities, Inc. reported earnings results yesterday; with EPS at 1.33; these results are inconclusive when compared to a consensus of 1.27 Earnings Per Share. Since the release of its earnings report, Sun Communities, Inc. lost 5.08%.
Early in today's session, Sun Communities dropped to $143.82 from $153.8 at the end of yesterday, before closing at $147.79. During the session, it lost 3.91%. Daily trading volume (1.46 million shares) was higher than the current multiday average of 535,915.
Ansys | Extends $28.94 since strong earnings report yesterday
Ansys released its quarterly earnings report yesterday, beating analysts estimates. The company reported earnings of 2.61 per share on revenue of $694.12 million, topping estimates of 2.34 per share on revenue of $647.39 million. Since the release of its earnings report, Ansys gained 10.89%.
The engineering simulation software developer topped out at $299.95 having ended today at $294.75. However, despite early momentum, the stock gave up its gains to now trade at $294.75.
The engineering simulation software developer has gained 26.63% since its lowest print of $200.33 earlier this year. The Nasdaq has been doing worse in 2022, it has been passing it by 16.9%. Ansys's market cap currently stands at $25.68 billion with an average daily trading volume of 430,523 shares.
APA, Apache | Retains upward momentum since earnings report yesterday
APA, Apache released its quarterly earnings report yesterday, beating analysts estimates. The company reported earnings of 1.48 per share on revenue of $2.47 billion, topping estimates of 1.44 per share on revenue of $2.20 billion. Since the release of its earnings report, APA, Apache gained 2.79%.
An influx of buyers helped the Texan hydrocarbon explorer to end the session higher around $39.12, while establishing a $38.24 to $40.23 session range today. Daily trading volume (7.87 million shares) increased, making up 140% of the 21-day average (5.60 million).
Fidelity National Financial | Retains downward momentum since earnings report yesterday
The company reported earnings of 1.06 per share yesterday, falling short of expectations of 1.28. Revenue was also lower than expected at $2.55 billion versus $2.73 billion. Since the release of its earnings report, Fidelity National Financial lost 5.79%
After ending yesterday at $41.96, Fidelity National Financial declined to $38.15 today before closing at $39.56, thereby losing 5.72% in total. Daily trading volume (2.74 million shares) was higher than the current multiday average of 1.11 million.
