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June 03, 2023
MongoDB, Inc., Elastic N.V., Broadcom are the ones to read about today.
Leading equity indices in the US rose as Dow Jones closed the day at 33,763, having gained 2.12%. S&P 500 closed the day at 4,282.37, having gained 1.45%.
NIO Inc. and The Toro Company 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. 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.
MongoDB: mixed results
MongoDB, Inc. reported earnings results Thursday, with EPS at -1.15 and revenues at $368.28 million; these results are mixed when compared to a consensus of 0.19 Earnings Per Share and $347.15 million revenue. Since the release of its earnings report, MongoDB, Inc. gained 28.08%.
After closing yesterday at $376.3, the database developer peaked at $397.98 before giving up early gains and closing at $376.3. Daily trading volume (9 million shares) was above the current multiday average of 2.29 million.
Elastic: mixed results
The company reported mixed earnings results Thursday, with EPS at -0.64 and revenues at $279.94 million. Since the release of its earnings report, Elastic lost 0.73%.
Elastic rallied 0.88% and ended the session at $72.29. Daily trading volume (3.73 million shares) increased, making up 297% of the 21-day average (1.26 million).
Broadcom: mixed results
Broadcom reported earnings results Thursday, with EPS at 8.39 and revenues at $8.73 billion; these results are mixed when compared to a consensus of 10.08 Earnings Per Share and $8.71 billion revenue. Since the release of its earnings report, Broadcom gained 0.5%.
Broadcom spiked to $823.77 yesterday and consolidated before initiating a fresh rally to $812. This comes following Thursday's session in which it closed at $789.95. Daily trading volume (6.28 million shares) was higher than the current multiday average of 3.72 million.
ChargePoint Holdings: mixed results
The company reported mixed earnings results Thursday, with EPS at -0.26 and revenues at $130 million. Since the release of its earnings report, ChargePoint Holdings lost 6.2%.
Pronounced bearish market sentiment ensured that the electric vehicle infrastructure company made a notable 6.97% loss yesterday, declining 68 cents and ultimately closing at $9.07.
ChargePoint Holdings hit a significant low of $7.93 around 15 days ago, but has since recovered 22.95%. So far this year, it has been under-performing the Nasdaq by 22%. ChargePoint Holdings has a market cap of $3.20 billion with an average daily trading volume of 8.95 million shares.
