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June 20, 2023
Centrais Elétricas Brasileiras S.A. – Eletrobrás, Adobe, Jabil Inc. and other stocks have published their quarterly earnings.
Leading equity indices in the US declined as Nasdaq shed 0.68% and closed at 13,700. S&P 500 closed at 4,409.59, a 0.37% change.
The earnings season is coming to an end and FedEx Corp and Centrais Elétricas Brasileiras S.A. – Eletrobrás have release their reports.
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.
Centrais Electricas Brasileiras | Negative surprise yesterday
Centrais Elétricas Brasileiras S.A. – Eletrobrás reported earnings of 0.32 per share and revenue at $9.21 billion.
During yesterday's session, Centrais Electricas Brasileiras toiled and struggled for upward momentum before closing at $8. By the close, the the hydroelectric power generation company suffered a 26 cents or 3.03% loss. Daily trading volume (3 million shares) increased, making up 209% of the 21-day average (1.46 million).
Adobe: mixed results
Adobe reported earnings results Thursday, with EPS at 3.04 and revenues at $4.82 billion; these results are mixed when compared to a consensus of 3.79 Earnings Per Share and $4.43 billion revenue. Since the release of its earnings report, Adobe gained 3.26%.
Adobe rose $4.27 to close at $495.18 yesterday which makes for a move of 0.87%. Daily trading volume (13.34 million shares) increased, making up 241% of the 21-day average (5.53 million).
Jabil: mixed results
Jabil reported earnings results Thursday, with EPS at 1.85 and revenues at $8.47 billion; these results are mixed when compared to a consensus of 1.87 Earnings Per Share and $8.20 billion revenue. Since the release of its earnings report, Jabil gained 5.69%.
Jabil moves up 0.69% to close at $105.36 yesterday. Daily trading volume (2.30 million shares) increased, making up 196% of the 21-day average (1.17 million).
Lennar | Extends $4 since strong earnings report Wednesday
Lennar released its quarterly earnings report Wednesday, beating analysts estimates. The company reported earnings of 2.94 per share on revenue of $8 billion, topping estimates of 2.31 per share on revenue of $7.18 billion. Since the release of its earnings report, Lennar gained 3.46%.
Lennar moves 0.18% to close at $120 yesterday. Daily trading volume (4.58 million shares) was higher than the current multiday average of 2.91 million.
