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May 28, 2023
Workday Inc, Ralph Lauren Corp, Medtronic and other stocks published their quarterly earnings. Here's what you need to know.
Leading equity indices in the US rose as Nasdaq gained 2.19% and closed at 12,976. S&P 500 closed the day at 4,205.45, having gained 1.3%.
Pinduoduo and Booz Allen Hamilton Holding Corporation have released their earnings reports with Five Below, Inc. & Asana, Inc. are set to publish their respective reports as scheduled.
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.
Workday: mixed results
Workday Inc reported earnings results Thursday, 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%.
The provider of enterprise cloud applications for human resources topped out at $218.88 having ended Friday at $216.07. However, despite early momentum, the stock gave up its gains to now trade at $216.07. Daily trading volume (6.62 million shares) was higher than the current multiday average of 2.16 million.
Ralph Lauren | Extends $4.54 since strong earnings report Thursday
Ralph Lauren was down, even though its quarterly earnings released on Thursday 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 luxury fashion brand to session lows around $111.93 while establishing a $111.93 to $114.55 session range Friday. Daily trading volume (1.31 million shares) increased, making up 135% of the 21-day average (968,759).
Medtronic: mixed results
Medtronic reported earnings results Thursday; with EPS at 1.52, these results are ambiguous when compared to a consensus of 1.56 Earnings Per Share. Since the release of its earnings report, Medtronic lost 6.89%.
Early in Friday's session, Medtronic dropped to $81 from $83.54 at the end of Thursday, before closing at $81.46. During the session, it lost 2.49%. Daily trading volume (8.42 million shares) increased, making up 151% of the 21-day average (5.59 million).
