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April 17, 2023
UnitedHealth, Delta Air Lines, Inc., Fastenal Co and other stocks have published their quarterly earnings.
Leading equity indices in the US declined as Dow Jones was down 0.42% before closing the session at 33,900. After dropping 0.35%, Nasdaq closed at 12,123.
Earnings season has begun and most of the companies in the S&P 500 reporting Q1 results have fallen short of Wall Street estimates, with ManpowerGroup Inc. and F.N.B. Corporation featured this past week. Whirlpool Corp & Activision Blizzard are scheduled for publication in the near term.
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.
UnitedHealth: EPS of zero, Revenue of $91.93 billion
UnitedHealth trades at $511.79 after the company released its quarterly results.
Early in Friday's session, UnitedHealth dropped to $508.5 from $526.23 at the end of Thursday, before closing at $511.79. During the session, it lost 2.74%.
The past 3 months have been positive for the healthcare solutions and services company as it added 5.35% compared to its 3-month low of $452.06. So far this year, it has been doing worse than the Dow by 3.48%. Currently, the healthcare services provider has a market capitalization of $477.42 billion with an average daily volume of 3.46 million shares.
Delta Air Lines: EPS of zero, Revenue of $12.76 billion
Following the release of quarterly results, Delta Air Lines trades at $33.77.
After closing at $33.37 on Thursday, Delta Air Lines rallied as high as $34 but ended the day at $33.77. Daily trading volume (14.85 million shares) increased, making up 126% of the 21-day average (11.75 million).
Fastenal: EPS of zero, Revenue of $1.86 billion
Fastenal trades at $53.27 after the company released its quarterly results.
Bullish sentiment helped the industrial and construction supplies provider to hammer out a noteworthy $52.39 to $53.9 range Friday, and finally closing at $53.27 to end the session. Daily trading volume (5.32 million shares) increased, making up 149% of the 21-day average (3.57 million).
Carmax: EPS of zero, Revenue of $5.72 billion
Following the release of quarterly results, Carmax trades at $69.46.
After closing at $69 on Thursday, Carmax maintained a strong bullish bias that helped the stock close higher at $69.46 Friday. However, market bears ensured the the used car dealer topped out at $71.5 and that by the end of the session, the market had marked out a distinct $68.49 to $71.5 range. Trading volume totalled 2.75 million which equates to around 87% of the stock's 21-day average Friday.
Albertsons Companies: EPS of zero, Revenue of $18.27 billion
Albertsons Companies trades at $20.69 after the company released its quarterly results.
Without a clear direction, Albertsons Companies closed at $20.69 while ranging between $20.56 and $20.71. The day's trading volume totalled 3.44 million shares — below the 21-day average of 5.66 million.
