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June 06, 2023
Science Applications International Corporation, MongoDB, Inc., Elastic N.V. are the ones to read about today.
Leading equity indices in the US rose as Nasdaq ended the session at 13,276 after a 0.36% gain. S&P 500 closed the day at 4,284, having gained 0.24%.
Oracle & HEXO Corp. 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.
Science Applications International Corporation | Retains upward momentum since earnings report yesterday
Science Applications International Corporation released its quarterly earnings report yesterday, beating analysts estimates. The company reported earnings of 1.88 per share on revenue of $2 billion, topping estimates of 1.82 per share on revenue of $1.96 billion. Since the release of its earnings report, Science Applications International Corporation gained 1.7%.
After closing at $102.65 on yesterday, Science Applications International Corporation rallied as high as $104.03 but ended the day at $103.17. Daily trading volume (428,560 shares) increased, making up 139% of the 21-day average (307,817).
MongoDB: mixed results
MongoDB 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 gained 31.94%.
Without a clear direction, MongoDB closed at $387.62 while ranging between $383 and $398.89.
The database developer now trading 76.71% above its 3-month low of $137.35. So far this year, it has performed better than the Nasdaq by 82.22%. MongoDB's market cap is currently $27.34 billion with an average daily trading volume of 2.30 million shares.
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 1.9%.
An influx of sellers pushed the self-managed SaaS provider to session lows around $71.05 while establishing a $71.05 to $73.35 session range today. Daily trading volume (1.46 million shares) increased, making up 115% of the 21-day average (1.28 million).
Broadcom: mixed results
Broadcom reported earnings results Thursday; with EPS at 8.39, these results are ambiguous when compared to a consensus of 10.08 Earnings Per Share. Since the release of its earnings report, Broadcom lost 2.22%.
Pronounced bearish sentiment in the market pushed the semiconductors design company into a notable 1.53% slide today, falling $12.3 and ultimately closing at $790. The day's trading volume totalled 3.65 million shares — slightly under the 21-day average of 3.76 million.
