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June 29, 2023
General Mills Inc, TD SYNNEX, Walgreens Boots Alliance Inc and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
Markets completed a mixed session yesterday, as Dow Jones closed at 33,853, a 0.22% change. Nasdaq ended the session at 13,600 after a 0.27% gain.
The earnings season is coming to an end and MSC Industrial Direct Co., Inc. & Acuity Brands, Inc. 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 are flat and stocks have released their quarterly earnings reports. Here is an update on what to look out for.
General Mills: mixed results
The company reported earnings results yesterday; with EPS at 1.12 and revenues at $5 billion, these results are mixed compared to a consensus of 1.06 Earnings Per Share and $5.17 billion revenue. Since the release of its earnings report, General Mills Inc lost 5.17%.
After ending Tuesday at $80.9, General Mills declined to $76.28 yesterday before closing at $76.72, thereby losing 5.17% in total. Daily trading volume (11.74 million shares) was higher than the current multiday average of 4.41 million.
Synnex: mixed results
Synnex reported inconclusive earnings results Tuesday, with EPS at 2.66 and revenues at $14 billion. Since the release of its earnings report, Synnex lost 7%.
Pronounced bearish sentiment in the market pushed the IT solutions provider into a notable 2.12% slide yesterday, falling $1.97 and ultimately closing at $90.85. Daily trading volume (629,940 shares) increased, making up 136% of the 21-day average (462,473).
WBA: mixed results
WBA reported earnings results Tuesday; with EPS at 0.96 and revenues at $64.24 billion, these results are mixed compared to a consensus of 1.07 Earnings Per Share and $34.48 billion revenue. Since the release of its earnings report, WBA lost 7.95%.
Generally flat but with a slight bullish bias, Walgreens Boots Alliance ranged between $28.2 and $29.08 before closing higher at $29.08. Daily trading volume (18.18 million shares) was higher than the current multiday average of 10.83 million.
Centrais Electricas Brasileiras loses 1.25%, closes at $7.89 ahead of quarterly report Monday
Centrais Electricas Brasileiras trades at $7.89 ahead of quarterly performance report which is scheduled to be released Monday.
An influx of sellers pushed the Brazilian electric utilities company to session lows around $7.88 while establishing a $7.88 to $8.03 session range yesterday. Trading volume totalled 748,644 which equates to around 55% of the stock's 21-day average yesterday.
