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June 28, 2023
Centrais Elétricas Brasileiras S.A. – Eletrobrás, Canopy Growth Corporation, Accenture plc Class A (Ireland) and other stocks have published their quarterly earnings.
Markets closed higher yesterday; Nasdaq closed the day at 13,556, having gained 1.65%. S&P 500 gained 1.15% and closed at 4,378.41.
The earnings season is coming to an end and General Mills Inc and BlackBerry Limited have release their reports.
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 loses 1.96%, closes at $8 ahead of quarterly report Monday
Centrais Elétricas Brasileiras S.A. – Eletrobrás trades at $8 ahead of quarterly performance report which is scheduled to be released Monday.
Early in yesterday's session, Centrais Electricas Brasileiras dropped to $7.84 from $8.15 at the end of Monday, before closing at $8. During the session, it lost 1.96%. The day's trading volume totalled 1.11 million shares — slightly under the 21-day average of 1.38 million.
Canopy Growth: mixed results
Canopy Growth reported inconclusive earnings results Thursday, with revenue at $98.15 million, compared to a consensus of $73.19 million. Since the release of its earnings report, Canopy Growth lost 20.97%.
After ending Monday at 51.74 cents, Canopy Growth declined to 46.92 cents yesterday before closing at 47.4 cents, thereby losing 8.39% in total.
Having set a significant low of 47.4 cents a day ago, the cannabis producer is trading 9.16% higher. So far this year, it has been doing worse than the Nasdaq by 101.77%. Canopy Growth's market cap currently stands at $278 million with an average daily trading volume of 12.39 million shares.
Accenture (Class A): mixed results
The company reported earnings results Thursday; with EPS at 2.79 and revenues at $16.56 billion, these results are mixed compared to a consensus of 3.04 Earnings Per Share and $16.56 billion revenue. Since the release of its earnings report, Accenture (Class A) lost 3.96%.
The Irish-based IT services company went up to $300.81, gaining 1.14%. Yesterday's trading volume was 2 million shares which is lower than the 21-day average of 3.39 million.
Darden Restaurants: EPS of 2.24, Revenue of $2.77 billion
Darden Restaurants trades at $163.39 after the company released its quarterly results.
After ending Monday at $161.59, Darden Restaurants spiked to $163.7 yesterday, dropped back to starting point range, and rallied again to $163.39. Trading volume totalled 1 million which equates to around 76% of the stock's 21-day average yesterday.
