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June 12, 2023
Centrais Elétricas Brasileiras S.A. – Eletrobrás, Campbell Soup Co, GameStop Corp. are the ones to read about today.
Markets closed higher Friday; Dow Jones closed the day at 33,877, having gained 0.13%. Nasdaq gained 0.16% and closed at 13,259.
Oracle and Centrais Elétricas Brasileiras S.A. – Eletrobrás have released their earnings reports; Adobe and Coca-Cola Europacific Partners PLC will publish their respective reports in due course.
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.
Centrais Electricas Brasileiras | Negative surprise today
Centrais Elétricas Brasileiras S.A. – Eletrobrás reported earnings of 0.32 per share and revenue at $9.21 billion.
The hydroelectric power generation company gained 2.21% and stayed at $7.85 levels.
Centrais Electricas Brasileiras hit a significant low of $5.75 around 2 months ago, but has since recovered 33.57%. So far this year, it has been doing worse than the Nasdaq by 13.53%. The company's market cap currently stands at $18.11 billion with an average daily volume of 1.28 million shares.
Campbell Soup: mixed results
Campbell Soup 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 lost 8.97%.
Pronounced bearish market sentiment ensured that the defensive consumer stock made a notable 1.54% loss Friday, declining 72 cents and ultimately closing at $46.05. Daily trading volume (3.35 million shares) was slightly above the current multiday average of 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.
Having soared to a high of $151.7 approximately 10 months ago, the US video game and gaming merchandise retailer is now trading 85.87% lower. So far this year, it has performed better than the Nasdaq by 12.22%. The world's largest gaming merchandise retailer's market cap currently stands at $6.91 billion with an average daily trading volume of 5 million shares.
Smartsheet: mixed results
Smartsheet reported earnings results Wednesday; with EPS at -0.53; these results are inconclusive 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.
The project management software company has fallen back around 21.72% over the past 6 days, from a notable high of $51.66. So far this year, it has been under-performing the Nasdaq by 21.8%. The company is currently trading with a market cap of $6.59 billion with an average daily trading volume of 2 million shares.
Ollie's Bargain Outlet: mixed results
Ollie's Bargain Outlet reported ambiguous earnings results Wednesday, with revenue at $459.15 million, compared to a consensus of $451.35 million. Since the release of its earnings report, Ollie's Bargain Outlet lost 0.08%.
Pronounced bullish sentiment in the market helped the discount closeout retailer chain to make a notable 2.51% gain Friday, rising $1.52 and ultimately closing at $61.96.
This year has been a bright one for the discount closeout retailer chain after trading as low as $45.53 and going on to appreciate by 33.54% year to date. Currently, the discount store company has a market capitalization of $3.83 billion with an average daily trading volume of 1.31 million shares.
