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May 05, 2023
Albemarle Corp, Vontier Corporation, Playtika Holding Corp. and other stocks published their quarterly earnings. Here's what you need to know.
Leading equity indices in the US declined as Dow Jones slipped 0.86% and closed at 33,128. After dropping 0.72%, S&P 500 closed at 4,061.22.
3Rd quarter earnings season is mostly over, with Kellogg Co & GoDaddy Inc. 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.
Albemarle: EPS of 10.32, Revenue of $2.58 billion
Following the release of quarterly results, Albemarle Corp trades at $175.65.
After closing at $172.91 on Wednesday, Albemarle maintained a strong bullish bias that helped the stock close higher at $175.65 yesterday. However, market bears ensured the the lithium giant topped out at $184.93 and that by the end of the session, the market had marked out a distinct $172.62 to $184.93 range. Daily trading volume (4.55 million shares) was higher than the current multiday average of 2.97 million.
Vontier: mixed results
Vontier reported earnings results yesterday, with EPS at 0.7 and revenues at $353 million; these results are mixed when compared to a consensus of 0.61 Earnings Per Share and $723.88 million revenue. Since the release of its earnings report, Vontier gained 2.7%.
After ending Wednesday at $26.69, Vontier went up to $28 only to drop back, yet still traded well overall and closed at $27.41 yesterday. Daily trading volume (1.19 million shares) was slightly greater than the current multiday average of 945,773.
Playtika | beats expected EPS of 0.19
Playtika was down, even though its quarterly earnings released on yesterday beat the analysts’ estimates. The reported earnings of 0.2 per share on revenue of $656.2 million, topping estimates of 0.19 per share on revenue of $641.23 million.
Early in yesterday's session, Playtika dropped to $9.6 from $10.3 at the end of Wednesday, before closing at $9.96. During the session, it lost 3.25%. Daily trading volume (1.68 million shares) increased, making up 122% of the 21-day average (1.37 million).
Starwood Property: mixed results
Starwood Property reported earnings results yesterday; with EPS at 0.73 and revenues at $490.41 million, these results are mixed compared to a consensus of 0.51 Earnings Per Share and $519 million revenue. Since the release of its earnings report, Starwood Property lost 5.39%.
After ending Wednesday at $17.07, Starwood Property dropped to $16.06 early in yesterday's session and closed at $16.15. In total, it lost 5.39%.
The real estate investment company is up 5.7% from the significant low of $16.15 it hit a day ago. The company's market cap currently stands at $5.29 billion with an average daily trading volume of 3.93 million shares.
