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April 06, 2023
Acuity Brands, Inc., MSC Industrial Direct Co., Inc., Science Applications International Corporation are the ones to read about today.
Markets completed a mixed session yesterday, as Nasdaq shed 1.07% and closed at 12,000. S&P 500 slipped 0.25% and closed at 4,090.38.
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 are flat and stocks have released their quarterly earnings reports. Here is an update on what to look out for.
Acuity Brands: mixed results
Acuity Brands, Inc. reported ambiguous earnings results Tuesday, with EPS at 2.79 and revenues at $943.6 million. Since the release of its earnings report, Acuity Brands, Inc. lost 11.79%.
An influx of sellers pushed the lighting and building management firm to session lows around $158.76 while establishing a $158.76 to $163.17 session range yesterday. Daily trading volume (745,009 shares) was above the current multiday average of 406,723.
MSC | Retains upward momentum since earnings report Tuesday
MSC released its quarterly earnings report Tuesday, beating analysts estimates. The company reported earnings of 1.45 per share on revenue of $961.63 million, topping estimates of 1.35 per share on revenue of $934 million. Since the release of its earnings report, MSC gained 0.21%.
After closing at $83.64 on Tuesday, MSC maintained a strong bullish bias that helped the stock close higher at $84.56 yesterday. However, market bears ensured the the industrial equipment distributor topped out at $86.25 and that by the end of the session, the market had marked out a distinct $83.48 to $86.25 range.
2 months ago the industrial supplies specialist reached a significant high of $89.61 but has consequently lost 6.66% since then. The industrial equipment distributor's market cap currently stands at $4.73 billion with an average daily trading volume of 392,204 shares.
Science Applications International Corporation | Retains upward momentum since earnings report Monday
Science Applications International Corporation released its quarterly earnings report Monday, beating analysts estimates. The company reported earnings of 2.04 per share on revenue of $1.97 billion, topping estimates of 1.63 per share on revenue of $1.85 billion. Since the release of its earnings report, Science Applications International Corporation gained 0.15%.
Without a clear direction, Science Applications International Corporation closed at $107.62 while ranging between $107.2 and $108.88. Daily trading volume (440,474 shares) increased, making up 125% of the 21-day average (353,629).
