| 
April 26, 2023
F5 Networks Inc, ManpowerGroup Inc., Seagate Technology PLC and other stocks have published their quarterly earnings.
Leading equity indices in the US declined as S&P 500 closed at 4,071.63, a 1.58% change. Nasdaq slipped 1.98% and closed at 11,800.
3Rd quarter earnings season is mostly over, with Landstar System, Inc. & PacWest Bancorp 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. 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.
F5 Networks | Retains downward momentum since earnings report Monday
The company reported earnings of 1.34 per share Monday, falling short of expectations of 2.42. Revenue was also lower than expected at $7.58 million versus $699 million. Since the release of its earnings report, F5 Networks Inc lost 2.78%
Pronounced bearish sentiment in the market pushed the US tech company into a notable 2.5% slide yesterday, falling $3.34 and ultimately closing at $130.29. Daily trading volume (703,314 shares) was slightly greater than the current multiday average of 676,329.
ManpowerGroup: mixed results
ManpowerGroup reported earnings results Thursday; with EPS at 1.88 and revenues at $4.75 billion, these results are mixed compared to a consensus of 1.63 Earnings Per Share and $4.81 billion revenue. Since the release of its earnings report, ManpowerGroup lost 5.79%.
After closing at $74.49 on Monday, ManpowerGroup maintained a strong bullish bias that helped the stock close higher at $74.9 yesterday. However, market bears ensured the the workforce solutions provider topped out at $75.2 and that by the end of the session, the market had marked out a distinct $73.43 to $75.2 range.
The workforce solutions provider has shed 15.21% over the past three months. ManpowerGroup's market cap currently stands at $3.80 billion with an average daily volume of 317,625 shares.
The data storage spearhead has recovered almost all of its session losses after dipping down to $55.97 yesterday.
The data storage specialist has shed 18.48% over the past three months. So far this year, it has been outperforming the S&P 500 by 0.49%. The company has a market cap of $11.58 billion with an average daily volume of 2.60 million shares.
Fifth Third Bancorp | Retains downward momentum since earnings report Thursday
The company reported earnings of 0.69 per share Thursday, falling short of expectations of 0.79. Revenue was also lower than expected at $2.21 billion versus $2.23 billion. Fifth Third Bancorp lost 8.42% since the release of its earnings report.
After ending Monday at $27.06, Fifth Third Bancorp dropped to $25.52 early in yesterday's session and closed at $25.66. In total, it lost 5.17%. Daily trading volume (9.23 million shares) increased, making up 124% of the 21-day average (7.42 million).
Genuine Parts: mixed results
Genuine Parts reported inconclusive earnings results Thursday, with revenue at $5.77 billion, compared to a consensus of $5.67 billion. Since the publication of its earnings report, Genuine Parts has declined 0.82%.
Early in yesterday's session, Genuine Parts dropped to $164.89 from $167.2 at the end of Monday, before closing at $165.14. During the session, it lost 1.23%. The day's trading volume totalled 703,172 shares — slightly below the 21-day average of 905,237.
