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June 11, 2023
Campbell Soup Co, GameStop Corp., Smartsheet Inc. are the ones to read about today.
Markets were up Friday; Dow Jones ended the session at 33,877 after a 0.13% gain. Nasdaq gained 0.16% and closed at 13,259.
3Rd quarter earnings season is mostly over, with NIO Inc. & Canopy Growth Corporation releasing their earnings reports just this 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.
Campbell Soup: mixed results
The company reported earnings results Wednesday; with EPS at 0.7 and revenues at $2.23 billion, these results are mixed compared to a consensus of 0.65 Earnings Per Share and $2.23 billion revenue. Since the release of its earnings report, Campbell Soup Co lost 8.97%.
An influx of sellers pushed the food and beverage manufacturer to session lows around $46.04 while establishing a $46.04 to $46.97 session range Friday. Daily trading volume (3.35 million shares) increased, making up 106% of the 21-day average (3.18 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. GameStop lost 8.14% since the release of its earnings report.
GameStop spiked to $23.42 Friday and consolidated before initiating a fresh rally to $22.68. This comes following Thursday's session in which it closed at $21.44. Daily trading volume (10.30 million shares) was above the current multiday average of 5 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 24.84%.
An influx of sellers pushed the project management software company to end the session lower around $38.83, while establishing a $38.66 to $41.69 session range Friday. Daily trading volume (3.49 million shares) was above the current multiday average of 2 million.
