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May 22, 2023
Companhia Paranaense de Energia – COPEL, Ross Stores Inc, Advanced Drainage Systems, Inc. and other stocks have published their quarterly earnings.
Leading equity indices in the US declined as Dow Jones lost 0.33% and ended the session at 33,427. Nasdaq was down 0.24% before closing the session at 12,658.
3Rd quarter earnings season is mostly over, with HEICO Corporation & ZIM Integrated Shipping Services Ltd. releasing their earnings reports just this 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 trades at $7.38 ahead of quarterly performance report which is scheduled to be released Thursday.
An influx of sellers pushed the Brazilian electric utility company to session lows around $7.34 while establishing a $7.34 to $7.44 session range Friday. Daily trading volume (363,652 shares) increased, making up 166% of the 21-day average (219,129).
Ross | 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 gained 0.93% since the release of its earnings report.
Early in Friday's session, Ross 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) was above the current multiday average of 2.12 million.
Advanced Drainage Systems | Retains upward momentum since 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 industrial piping supplier to session lows around $95.15 while establishing a $95.15 to $100.6 session range Friday. Daily trading volume (1 million shares) increased, making up 173% of the 21-day average (586,067).
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 under the 21-day average of 3.23 million.
Doximity: mixed results
The company reported mixed earnings results Tuesday, with EPS at 0.2 and revenues at $110.97 million. Since the release of its earnings report, Doximity lost 6.15%.
A tough start to the session saw price action reach a low of $31.32 before closing at $32.04.
Doximity hit a significant low of $24 around 6 months ago, but has since recovered 38.79%. So far this year, it has been doing worse than the Nasdaq by 20.27%. Doximity has a market cap of $6.20 billion with an average daily volume of 1.53 million shares.
