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June 07, 2023
Thor Industries, Inc., Ciena Corporation, Science Applications International Corporation are the ones to read about today.
Markets completed a mixed session today while Nasdaq slipped 1.29% and closed at 13,100. S&P 500 lost 0.38% and ended the session at 4,267.52.
3Rd quarter earnings season is mostly over, with Aurora Cannabis Inc. and GameStop Corp. 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 are flat and stocks have released their quarterly earnings reports. Here is an update on what to look out for.
Thor Industries | Retains upward momentum since earnings report yesterday
Thor Industries, Inc. released its quarterly earnings report yesterday, beating analysts estimates. The company reported earnings of 6.32 per share on revenue of $2.93 billion, topping estimates of 1.07 per share on revenue of $2.82 billion. Since the release of its earnings report, Thor Industries, Inc. gained 18.75%.
After ending yesterday at $93.15, Thor Industries spiked to $95.74 today, dropped back to starting point range, and rallied again to $94. Daily trading volume (1.32 million shares) increased, making up 204% of the 21-day average (647,582).
Ciena: mixed results
Ciena reported inconclusive earnings results yesterday, with revenue at $1.13 billion, compared to a consensus of $1 billion. Since the release of its earnings report, Ciena lost 8.88%.
After closing at $42.39 on yesterday, Ciena maintained a strong bullish bias that helped the stock close higher at $43.28 today. However, market bears ensured the the software services supplier topped out at $44.21 and that by the end of the session, the market had marked out a distinct $42.48 to $44.21 range. Daily trading volume (3.61 million shares) increased, making up 166% of the 21-day average (2.17 million).
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 1.88 per share on revenue of $2 billion, topping estimates of 1.82 per share on revenue of $1.96 billion. Since the release of its earnings report, Science Applications International Corporation gained 2.33%.
After closing at $103.17 on yesterday, Science Applications International Corporation maintained a strong bullish bias that helped the stock close higher at $103.81 today. However, market bears ensured the the next-gen IT support company topped out at $104.11 and that by the end of the session, the market had marked out a distinct $102.23 to $104.11 range. Daily trading volume (323,385 shares) increased, making up 100% of the 21-day average (320,061).
MongoDB: mixed results
MongoDB reported earnings results Thursday, with EPS at -1.15 and revenues at $368.28 million; these results are mixed when compared to a consensus of 0.19 Earnings Per Share and $347.15 million revenue. Since the release of its earnings report, MongoDB gained 25.45%.
Pronounced bearish market sentiment ensured that the software company made a notable 4.92% loss today, declining $19.06 and ultimately closing at $368.56. Today's trading volume was 2.17 million shares which is slightly under the 21-day average of 2.39 million.
