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April 08, 2023
RPM International Inc., Constellation Brands Inc, Lamb Weston Holdings Inc are the ones to read about today.
Markets closed higher Thursday, as Nasdaq gained 0.76% and closed at 12,100. S&P 500 ended the session at 4,105 after a 0.36% gain.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. These reports are typically announced once a quarter, and their timing is considered when making predictions about the market due to the large impact they have on it.
Markets were up and stocks have released their quarterly earnings reports. Have a look.
RPM International | better than expected earnings Thursday
RPM International Inc. was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.37 per share on revenue of $1.52 billion, topping estimates of 0.3 per share on revenue of $1.47 billion.
After ending Wednesday at $84.33, RPM International dropped to $79.47 early in Thursday's session and closed at $81.19. In total, it lost 3.72%. Daily trading volume (2.19 million shares) increased, making up 260% of the 21-day average (842,537).
Constellation Brands | Retains upward momentum since earnings report Thursday
Constellation Brands released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 1.98 per share on revenue of $2.15 billion, topping estimates of 1.86 per share on revenue of $2 billion. Since the release of its earnings report, Constellation Brands gained 1.45%.
Having closed Wednesday at $221.44, bullish sentiment helped Constellation Brands to reach highs around $226.5 before paring gains and ending Thursday at $224.64. Daily trading volume (1.98 million shares) increased, making up 155% of the 21-day average (1.28 million).
Lamb Weston | Extends $2.69 since strong earnings report Thursday
Lamb Weston released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 1.43 per share on revenue of $1.25 billion, topping estimates of 0.98 per share on revenue of $1.16 billion. Since the release of its earnings report, Lamb Weston gained 2.58%.
Pronounced bullish sentiment in the market helped the Idaho-based food giant to make a notable 2.58% gain Thursday, rising $2.69 and ultimately closing at $106.86. Daily trading volume (3.96 million shares) was higher than the current multiday average of 1.60 million.
Levi Strauss & Co: beats estimations
Levi Strauss & Co was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.34 per share on revenue of $1.69 billion, topping estimates of 0.32 per share on revenue of $1.62 billion.
After ending Wednesday at $18.03, Levi Strauss & Co declined to $15.04 Thursday before closing at $15.14, thereby losing 16.03% in total. Daily trading volume (20.31 million shares) was above the current multiday average of 3.16 million.
