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May 11, 2023
Nova Ltd., Western Midstream Partners, LP, Gilat Satellite Networks Ltd. and other stocks have published their quarterly earnings.
Markets closed higher yesterday; Nasdaq closed the day at 12,300, having gained 1.04%. S&P 500 gained 0.45% and closed at 4,137.64.
3Rd quarter earnings season is mostly over, with NICE Ltd. and Nova Ltd. 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.
Nova: EPS of 1.28, Revenue of $151.24 million
Following the release of quarterly results, Nova Ltd. trades at $91.27.
After closing at $90.85 on Tuesday, Nova rallied as high as $92.3 but ended the day at $91.27. Trading volume totalled 64,159 which equates to around 64% of the stock's 21-day average yesterday.
Western Midstream | Bounces 19 cents since downbeat earnings report Tuesday
The company reported earnings of 0.52 per share Tuesday, falling short of expectations of 0.618. Revenue was also lower than expected at $733.98 million versus $771.64 million. Although earnings did not match projections, Western Midstream gained 0.74% since the release of its earnings report.
After ending yesterday at $25.75, the midstream oil and gas company recovers back to $25.73 after dipping down to $25.19 earlier today. The day's trading volume totalled 645,658 shares — slightly under the 21-day average of 666,318.
Gilat: EPS of 0.14, Revenue of $27.72 million
Gilat trades at $5.46 after the company released its quarterly results.
Early in yesterday's session, Gilat dropped to $5.38 from $5.55 at the end of Tuesday, before closing at $5.46. During the session, it lost 1.62%.
Gilat hit a significant low of $4.58 around 15 days ago, but has since recovered 21.18%. The company is currently trading with a market cap of $309.12 million with an average daily volume of 118,818 shares.
Six Flags | Extends $4.23 since strong earnings report Monday
Six Flags was down, even though its quarterly earnings released on Monday beat the analysts’ estimates. The 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.
An influx of sellers pushed the US amusement park operator to session lows around $26.41 while establishing a $26.41 to $28.6 session range yesterday.
7 months ago, the US amusement park operator fell to a low of $17.55 but has since recovered 58.8%. Currently, the US amusement park operator has a market capitalization of $2.22 billion with an average daily trading volume of 2.62 million shares.
