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May 08, 2023
Six Flags Entertainment Corporation, Globus Medical, Inc., Live Nation Entertainment Inc are the ones to read about today.
Leading equity indices in the US rose as Dow Jones closed the day at 33,674, having gained 1.65%. S&P 500 gained 1.85% and closed at 4,136.25.
Tyson Foods Inc & Palantir Technologies Inc. have released their earnings reports; Spectrum Brands Holdings, Inc. & Nova Ltd. will publish their respective reports in due course.
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.
Six Flags | beats expected EPS of -0.85
Six Flags Entertainment Corporation released its quarterly earnings today, beating analysts estimates. The company reported earnings of -0.76 per share on revenue of $279.88 million, topping estimates of -0.85 per share on revenue of $132.56 million.
The US amusement park operator went up to $22.44, gaining 1.17%. Daily trading volume (5.59 million shares) increased, making up 269% of the 21-day average (2 million).
Globus | Retains upward momentum since earnings report Thursday
Globus released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 0.53 per share on revenue of $276.69 million, topping estimates of 0.51 per share on revenue of $254.9 million. Since the release of its earnings report, Globus gained 2.89%.
An influx of buyers helped the musculoskeletal device solutions provider to end the session higher around $58.45, while establishing a $57.05 to $58.62 session range Friday. Daily trading volume (3.42 million shares) increased, making up 234% of the 21-day average (1.47 million).
Live Nation Entertainment | Extends $9.89 since strong earnings report Thursday
Live Nation Entertainment released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of -0.25 per share on revenue of $3.13 billion, topping estimates of -0.45 per share on revenue of $2.32 billion. Since the release of its earnings report, Live Nation Entertainment gained 14.7%.
Having closed Thursday at $67.07, bullish sentiment helped Live Nation Entertainment to reach highs around $79.07 before paring gains and ending Friday at $77.16.
The global entertainment company is now trading 32.28% below the significant high of $99.04 it set around 8 months ago. So far this year, it has been outperforming the S&P 500 by 6.43%. The company has a market cap of $17.87 billion with an average daily volume of 1.63 million shares.
IDACORP | Extends 15 cents since strong earnings report Thursday
IDACORP was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 1.11 per share on revenue of $429.66 million, topping estimates of 0.92 per share on revenue of $320.76 million.
After ending Thursday at $111.53, IDACORP declined to $110.43 Friday before closing at $110.97, thereby losing 0.5% in total. Daily trading volume (231,806 shares) was higher than the current multiday average of 165,240.
Kellogg's | beats expected EPS of one
Kellogg's released its quarterly earnings Thursday, beating analysts estimates. The company reported earnings of 1.1 per share on revenue of $4 billion, topping estimates of one per share on revenue of $3.95 billion. Since the release of its earnings report, Kellogg's lost 1.65%.
Without a clear direction, Kellogg's closed at $70.35 while ranging between $70.17 and $71.17.
Kellogg's hit a significant low of $63.89 around a month ago, but has since recovered 10.16%. So far this year, it has been doing worse than the S&P by 9%. The company's market cap currently stands at $24.11 billion with an average daily trading volume of 1.95 million shares.
