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May 14, 2023
Nova Ltd., Western Midstream Partners, LP, Gilat Satellite Networks Ltd. are the ones to read about today.
Leading equity indices in the US declined as Nasdaq lost 0.35% and ended the session at 12,300. S&P 500 closed at 4,124, a 0.16% change.
Sun Life Financial Inc. & Aurora Cannabis Inc. have released their earnings reports; National Grid plc & Take-Two Interactive Software Inc 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 down, stocks have released their quarterly earnings reports. Have a look at this rundown.
Nova: EPS of 1.28, Revenue of $151.24 million
Following the release of quarterly results, Nova Ltd. trades at $94.12.
An influx of buyers helped the chemical metrology solutions provider to end the session higher around $94.12, while establishing a $89.59 to $94.3 session range Friday. The day's trading volume totalled 67,601 shares — slightly under the 21-day average of 101,022.
Western Midstream | Retains downward momentum since earnings report Tuesday
The company reported earnings of 0.52 per share Tuesday, falling short of expectations of 0.618. Revenue was also lower than expected at $733.98 million versus $771.64 million. Western Midstream lost 0.55% since the release of its earnings report.
Grinding lower but with no clear-cut direction, the midstream oil and gas company closed the session at $25.4 after forming a distinct $25.38 – $25.86 range.
The midstream oil and gas company has shed 10.16% over the past three months. So far this year, it has been doing worse than the Nasdaq by 16.78%. Currently, the midstream oil and gas company has a market capitalization of $9.77 billion with an average daily volume of 677,357 shares.
Gilat: EPS of 0.14, Revenue of $27.72 million
Gilat trades at $5.51 after the company released its quarterly results.
After dipping down to $5.36, Gilat regained earlier losses and closed at $5.51. Trading volume totalled 109,926 which equates to around 97% of the stock's 21-day average Friday.
Six Flags | Extends $4.18 since strong earnings report Monday
Six Flags released its quarterly earnings report Monday, beating analysts estimates. The company reported earnings of -0.76 per share on revenue of $279.88 million, topping estimates of -0.85 per share on revenue of $132.56 million. Since the release of its earnings report, Six Flags gained 18.63%.
Six Flags recovered from the previous trading session's losses and went up to $26.62 Friday after it traded lower at $26.46. Trading volume totalled 1.93 million which equates to around 72% of the stock's 21-day average Friday.
