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June 09, 2023
Campbell Soup Co, GameStop Corp., Smartsheet Inc. are the ones to read about today.
Leading equity indices in the US rose as Nasdaq ended the session at 13,239 after a 1.02% gain. S&P 500 closed the day at 4,294, having gained 0.62%.
NIO Inc. and The Toro Company have released their earnings reports with Adobe and Kroger Co 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. 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.
Campbell Soup: mixed results
Campbell Soup Co reported earnings results Wednesday; with EPS at 0.7; these results are inconclusive when compared to a consensus of 0.65 Earnings Per Share. Since the release of its earnings report, Campbell Soup Co lost 7.55%.
An influx of buyers helped the defensive consumer stock to end the session higher around $46.77, while establishing a $45.86 to $46.94 session range yesterday. Daily trading volume (5.19 million shares) increased, making up 164% of the 21-day average (3.16 million).
GameStop | Retains downward momentum since earnings report Wednesday
The company reported earnings of -0.52 per share Wednesday, falling short of expectations of -0.12. Revenue was also lower than expected at $1.24 billion versus $1.36 billion. Since the release of its earnings report, GameStop lost 13.16%
After ending Wednesday at $26.11, GameStop dropped to $20.11 early in yesterday's session and closed at $21.44. In total, it lost 17.89%. Daily trading volume (18.90 million shares) was higher than the current multiday average of 4.74 million.
Smartsheet: mixed results
Smartsheet reported earnings results Wednesday; with EPS at -0.53, these results are ambiguous when compared to a consensus of 0.08 Earnings Per Share. Since the release of its earnings report, Smartsheet lost 21.72%.
After ending Wednesday at $49, Smartsheet declined to $38.58 yesterday before closing at $40.44, thereby losing 17.47% in total. Daily trading volume (11.53 million shares) was above the current multiday average of 1.97 million.
Ollie's Bargain Outlet: mixed results
Ollie's Bargain Outlet reported earnings results Wednesday; with EPS at 0.2; these results are inconclusive when compared to a consensus of 0.48 Earnings Per Share. Since the release of its earnings report, Ollie's Bargain Outlet lost 2.53%.
Grinding lower but with no clear-cut direction, the discount store company closed the session at $60.44 after forming a distinct $60.34 – $62.48 range. Trading volume totalled 1.26 million which equates to around 96% of the stock's 21-day average yesterday.
