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May 22, 2023
Companhia Paranaense de Energia – COPEL, Ross Stores Inc, Advanced Drainage Systems, Inc. and other stocks published their quarterly earnings. Here's what you need to know.
Leading equity indices in the US declined as Dow Jones shed 0.33% and closed at 33,427. Nasdaq shed 0.24% and closed at 12,658.
Nano Dimension Ltd. and Booz Allen Hamilton Holding Corporation due to release their earnings reports within the following week.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. These reports are typically announced once a quarter, and their timing is considered when making predictions about the market due to the large impact they have on it.
Markets were down, stocks have released their quarterly earnings reports. Have a look at this rundown.
Companhia Paranaense de Energia closes at $7.38 as investors eye earnings Thursday
Companhia Paranaense de Energia – COPEL is trading in a $7.34 – $7.44 range prior to its earnings announcement.
Pronounced bearish sentiment in the market pushed the Brazilian electric utility company into a notable 0.27% slide Friday, falling 2 cents and ultimately closing at $7.38.
Companhia Paranaense de Energia hit a significant low of $5.79 around 7 months ago, but has since recovered 27.81%. So far this year, it has been under-performing the Nasdaq by 7.94%. The company is currently trading with a market cap of $20.20 billion with an average daily trading volume of 219,129 shares.
Ross Stores | Bounces 97 cents since downbeat earnings report Thursday
The company reported earnings of 0.97 per share Thursday, falling short of expectations of 1.06. Revenue was also lower than expected at $4.49 billion versus $4.50 billion. Although earnings did not match projections, Ross Stores gained 0.93% since the release of its earnings report.
Early in Friday's session, Ross Stores dropped to $99.2 from $105.38 at the end of Thursday, before closing at $104.76. During the session, it lost 0.59%. Daily trading volume (5.95 million shares) increased, making up 281% of the 21-day average (2.12 million).
Advanced Drainage Systems | Extends $7.88 since strong earnings report Thursday
Advanced Drainage Systems was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.95 per share on revenue of $617.56 million, topping estimates of 0.77 per share on revenue of $562.75 million.
An influx of sellers pushed the plastics pipe company to end the session lower around $96.55, while establishing a $95.15 to $100.6 session range Friday.
After hitting an important low of $75.96 approximately 2 months ago, the industrial piping supplier has bounced back 29.54% since. So far this year, it has been beating the Nasdaq by 0.47%. Advanced Drainage Systems's market cap currently stands at $7.84 billion with an average daily volume of 586,067 shares.
Dynatrace: mixed results
Dynatrace reported earnings results Wednesday, with EPS at 0.07 and revenues at $314.48 million; these results are mixed when compared to a consensus of 0.22 Earnings Per Share and $304.96 million revenue. Since the release of its earnings report, Dynatrace gained 4.74%.
Without a clear direction, Dynatrace closed at $49.03 while ranging between $48.6 and $49.44. Friday's trading volume was 2.71 million shares which is slightly below the 21-day average of 3.23 million.
