Bullish sentiment arrives following recent earnings figures among stocks

Bullish sentiment arrives following recent earnings figures among stocks

Constellation Brands Inc, McCormick & Company Inc, Acuity Brands, Inc. and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.

Leading equity indices in the US rose as Nasdaq gained 0.21% and closed at 13,817. S&P 500 closed the day at 4,455.59, having gained 0.12%.

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.

Constellation Brands: mixed results

Constellation Brands Inc reported earnings results Friday, with EPS at 2.66 and revenues at $2.51 billion; these results are mixed when compared to a consensus of 2.83 Earnings Per Share and $2.47 billion revenue. Since the release of its earnings report, Constellation Brands Inc gained 0.25%.

After ending Friday's session at $246.13, Constellation Brands went up to $249.25 Monday only to fall back and close at $247.47. Daily trading volume (1.26 million shares) was slightly greater than the current multiday average of 1.12 million.

McCormick & Company | Retains downward momentum since earnings report Thursday

The company reported earnings of 0.48 per share Thursday, falling short of expectations of 0.57. Revenue was also lower than expected at $1.66 billion versus $1.67 billion. McCormick & Company lost 4% since the release of its earnings report.

Bullish sentiment helped the food manufacturing company to hammer out a noteworthy $86.51 to $88.17 range Monday, and finally closing at $88.17 to end the session. The day's trading volume totalled 1.16 million shares — slightly under the 21-day average of 1.75 million.

Acuity Brands | Bounces $2.56 since downbeat earnings report Thursday

The company reported earnings of 3.3 per share Thursday, falling short of expectations of 3.71. Revenue was also lower than expected at $1 billion versus $1 billion. Although earnings did not match projections, Acuity Brands gained 1.59% since the release of its earnings report.

Without a clear direction, Acuity Brands closed at $163.22 while ranging between $162.3 and $166.2. Trading volume totalled 182,057 which equates to around 40% of the stock's 21-day average Monday.

MSC | better than expected earnings Thursday

MSC released its quarterly earnings Thursday, beating analysts estimates. The company reported earnings of 1.82 per share on revenue of $1 billion, topping estimates of 1.75 per share on revenue of $1 billion. Since the release of its earnings report, MSC lost 0.23%.

Pronounced bullish sentiment in the market helped the industrial equipment distributor to make a notable 0.47% gain Monday, rising 45 cents and ultimately closing at $95.73. The day's trading volume totalled 252,393 shares — lower than the 21-day average of 464,770.

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Bullish sentiment arrives following recent earnings figures among stocks

Bullish sentiment arrives following recent earnings figures among stocks

Constellation Brands Inc, McCormick & Company Inc, Acuity Brands, Inc. and other stocks published their quarterly earnings, check out this rundown of reports and ...
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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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05 July, 2023

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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