| 
April 23, 2023
ManpowerGroup Inc., Seagate Technology PLC, Fifth Third Bancorp and other stocks published their quarterly earnings. Here's what you need to know.
Markets did not have a clear cut direction — Nasdaq closed 12,072 after a stable day. Dow Jones closed at 33,800 after a flat day.
KB Financial Group Inc. & Cousins Properties Incorporated 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.
ManpowerGroup: mixed results
The company reported mixed earnings results Thursday, with EPS at 1.88 and revenues at $4.75 billion. Since the release of its earnings report, ManpowerGroup Inc. lost 6.18%.
Generally flat but with a slight bullish bias, ManpowerGroup ranged between $72.93 and $74.64 before closing higher at $74.59. Daily trading volume (366,109 shares) was slightly above the current multiday average of 310,171.
The data storage specialist has recovered almost all of its session losses after dipping down to $54.34 Friday. Daily trading volume (5.68 million shares) was above the current multiday average of 2.58 million.
Fifth Third Bancorp | Retains downward momentum since earnings report Thursday
The company reported earnings of 0.69 per share Thursday, falling short of expectations of 0.79. Revenue was also lower than expected at $2.21 billion versus $2.23 billion. Fifth Third Bancorp lost 1.93% since the release of its earnings report.
An influx of sellers pushed the US consumer bank to session lows around $27.28 while establishing a $27.28 to $28 session range Friday. Daily trading volume (8.43 million shares) increased, making up 109% of the 21-day average (7.74 million).
Genuine Parts: mixed results
Genuine Parts reported earnings results Thursday, with EPS at 1.86 and revenues at $5.77 billion; these results are mixed when compared to a consensus of 2.03 Earnings Per Share and $5.67 billion revenue. Since the release of its earnings report, Genuine Parts gained 0.01%.
After ending Thursday at $168.62, Genuine Parts dropped to $166.24 early in Friday's session and closed at $166.52. In total, it lost 1.25%. Friday's trading volume was 934,185 shares which is slightly below the 21-day average of 1 million.
