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May 26, 2023
Workday Inc, Ralph Lauren Corp, Medtronic and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
Leading equity indices in the US rose as Nasdaq closed the day at 12,976, having gained 2.19%. S&P 500 gained 1.3% and closed at 4,205.45.
Five Below, Inc. and Asana, Inc. due to release their earnings reports within the following week.
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.
Workday: mixed results
Workday Inc reported earnings results yesterday, with EPS at -0.17 and revenues at $1.68 billion; these results are mixed when compared to a consensus of 1.12 Earnings Per Share and $1.67 billion revenue. Since the release of its earnings report, Workday Inc gained 10.13%.
After closing today at $216.07, the provider of enterprise cloud applications for human resources peaked at $218.88 before giving up early gains and closing at $216.07.
6 months ago, the provider of enterprise cloud applications for human resources fell to a low of $132.63 but has since recovered 48.09%. So far this year, it has been under-performing the Nasdaq by 0.54%. Workday's market cap currently stands at $56.27 billion with an average daily trading volume of 1.84 million shares.
Ralph Lauren | Retains upward momentum since earnings report yesterday
Ralph Lauren was down, even though its quarterly earnings released on yesterday beat the analysts’ estimates. The reported earnings of 0.9 per share on revenue of $1.54 billion, topping estimates of 0.61 per share on revenue of $1.47 billion.
An influx of sellers pushed the renowned fashion company to end the session lower around $112.76, while establishing a $111.93 to $114.55 session range today.
Ralph Lauren hit a significant low of $83.96 around 7 months ago, but has since recovered 35.78%. So far this year, it has been doing worse than the S&P by 4.38%. Ralph Lauren has a market cap of $7.44 billion with an average daily volume of 923,227 shares.
Medtronic: mixed results
Medtronic reported earnings results yesterday; with EPS at 1.52 and revenues at $8.54 billion, these results are mixed compared to a consensus of 1.56 Earnings Per Share and $8.25 billion revenue. Since the release of its earnings report, Medtronic lost 6.89%.
After ending yesterday at $83.54, Medtronic dropped to $81 early in today's session and closed at $81.46. In total, it lost 2.49%. Daily trading volume (8.42 million shares) was higher than the current multiday average of 5.13 million.
Marvell Technology Group | Retains upward momentum since earnings report yesterday
Marvell Technology Group released its quarterly earnings report yesterday, beating analysts estimates. The company reported earnings of 0.37 per share on revenue of $1.32 billion, topping estimates of 0.29 per share on revenue of $1.30 billion. Since the release of its earnings report, Marvell Technology Group gained 42.47%.
The integrated circuits developer topped out at $65.75 having ended today at $65.51. However, despite early momentum, the stock gave up its gains to now trade at $65.51.
Marvell hit a significant low of $34.68 around 4 months ago, but has since recovered 42.65%. So far this year, it has performed better than the Nasdaq by 20.93%. The integrated circuits developer's market cap currently stands at $56.28 billion with an average daily trading volume of 12.94 million shares.
Ralph Lauren | Retains upward momentum since earnings report yesterday
Ralph Lauren was down, even though its quarterly earnings released on yesterday beat the analysts’ estimates. The reported earnings of 0.9 per share on revenue of $1.54 billion, topping estimates of 0.61 per share on revenue of $1.47 billion.
An influx of sellers pushed the renowned fashion company to end the session lower around $112.76, while establishing a $111.93 to $114.55 session range today.
Ralph Lauren hit a significant low of $83.96 around 7 months ago, but has since recovered 35.78%. So far this year, it has been doing worse than the S&P by 4.38%. Ralph Lauren has a market cap of $7.44 billion with an average daily volume of 923,227 shares.
