Markets are calm following 3 stocks releasing earnings

IBM, Lam Research Corp, Baker Hughes Co are the ones to read about today.

Markets did not have a clear cut direction — Dow Jones was down 0.23% before closing the session at 33,900. Nasdaq closed at 12,157 after a flat day.

KB Financial Group Inc. & Carter's, Inc. due to release their earnings reports within the following 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.

IBM: mixed results

IBM reported inconclusive earnings results yesterday, with revenue at $14.25 billion, compared to a consensus of $14.35 billion. Since the release of its earnings report, IBM lost 1.14%.

After ending Tuesday at $127.78, IBM dropped to $125.3 early in yesterday's session and closed at $126.32. In total, it lost 1.14%. Daily trading volume (6.18 million shares) was higher than the current multiday average of 3.96 million.

Lam Research | outperforms analyst estimates

Lam Research was down, even though its quarterly earnings released on yesterday beat the analysts’ estimates. The reported earnings of 7.4 per share on revenue of $3.87 billion, topping estimates of 6.54 per share on revenue of $3.83 billion.

Early in yesterday's session, Lam Research dropped to $482.74 from $495.37 at the end of Tuesday, before closing at $491. During the session, it lost 0.88%. Daily trading volume (1.69 million shares) increased, making up 130% of the 21-day average (1.30 million).

Baker Hughes: mixed results

Baker Hughes reported earnings results yesterday, with EPS at 0.15 and revenues at $5.72 billion; these results are mixed when compared to a consensus of 0.26 Earnings Per Share and $5.51 billion revenue. Since the release of its earnings report, Baker Hughes gained 3.59%.

Pronounced bullish sentiment in the market helped the industrial service company to make a notable 3.59% gain yesterday, rising $1.06 and ultimately closing at $30.56. Daily trading volume (10.42 million shares) increased, making up 148% of the 21-day average (7 million).