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June 13, 2023
Centrais Elétricas Brasileiras S.A. – Eletrobrás, Campbell Soup Co, GameStop Corp. and other stocks published their quarterly earnings. Here's what you need to know.
The leading indices are showing gains — S&P 500 up to 4,357, gaining 0.42%. Dow Jones up to 34,170, gaining 0.3%.
3Rd quarter earnings season is mostly over, with HEXO Corp. and TuSimple Holdings 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. 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 are up and stocks have released their quarterly earnings reports. Have a look.
Centrais Electricas Brasileiras | Bounces 11.5 cents since downbeat earnings report yesterday
The company reported earnings per share of 0.32 per share and a revenue $9.21 billion yesterday. Centrais Elétricas Brasileiras S.A. – Eletrobrás gained 1.46% since the release of its earnings report.
Centrais Electricas Brasileiras is down to $7.96, after ending yesterday at $eight. Overall, a 0.44% loss or 3.5 cents today.
Campbell Soup: mixed results
Campbell Soup reported ambiguous earnings results Wednesday, with revenue at $2.23 billion, compared to a consensus of $2.23 billion. Since the release of its earnings report, Campbell Soup lost 8.78%.
After closing at $45.98 yesterday, Campbell Soup began today at $45.6 with significant bullish sentiment driving Campbell Soup's price action higher. So far today, price action has drawn out a distinct $45.43 to $46.16 range.
GameStop | Bounces 69 cents since downbeat earnings report Wednesday
The company reported earnings of -0.52 per share Wednesday, falling short of expectations of -0.12. Revenue was also lower than expected at $1.24 billion versus $1.36 billion. Although earnings did not match projections, GameStop gained 2.79% since the release of its earnings report.
After closing the previous trading day at $24.3, GameStop is up to $25.38, which makes for a move of 4.44%/$1.08 today. The trading volume is at 5.67 million, 105% above the 21-day average of 5.39 million.
Smartsheet: mixed results
Smartsheet reported earnings results Wednesday; with EPS at -0.53 and revenues at $219.89 million, these results are mixed compared to a consensus of 0.08 Earnings Per Share and $214 million revenue. Since the release of its earnings report, Smartsheet lost 24.8%.
After closing the previous trading day at $38.58, Smartsheet is up to $38.85, which makes for a move of 0.7%/27 cents today.
