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April 25, 2023
F5 Networks Inc, ManpowerGroup Inc., Seagate Technology PLC are the ones to read about today.
Markets completed a mixed session yesterday while Nasdaq slipped 0.29% and closed at 12,037. Dow Jones ended the session at 33,875 after a 0.2% gain.
3Rd quarter earnings season is mostly over, with PacWest Bancorp and Halliburton Co 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.
F5 Networks | Retains downward momentum since earnings report yesterday
The company reported earnings of 1.34 per share yesterday, falling short of expectations of 2.42. Revenue was also lower than expected at $7.58 million versus $699 million. F5 Networks Inc lost 0.29% since the release of its earnings report.
After ending yesterday at $134.02, the US online security firm recovers back to $133.63 after dipping down to $132 earlier today.
After hitting an important low of $133.63 approximately a day ago, the US tech company has bounced back 0.29% since. So far this year, it has been under-performing the S&P by 15.21%. F5 Networks's market cap is currently $8 billion with an average daily trading volume of 659,052 shares.
ManpowerGroup: mixed results
ManpowerGroup reported inconclusive earnings results Thursday, with EPS at 1.88 and revenues at $4.75 billion. Since the release of its earnings report, ManpowerGroup lost 6.3%.
Without a clear direction, ManpowerGroup closed at $74.49 while ranging between $74.04 and $74.8. Yesterday's trading volume was 254,587 shares which is slightly below the 21-day average of 303,447.
Generally flat but with a slight bullish bias, Seagate ranged between $55.79 and $57.08 before closing higher at $57. Trading volume totalled 2.33 million which equates to around 91% of the stock's 21-day average yesterday.
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. Since the release of its earnings report, Fifth Third Bancorp lost 3.43%
After ending Friday at $27.48, Fifth Third Bancorp dropped to $27 early in yesterday's session and closed at $27.06. In total, it lost 1.53%.
The US consumer bank has shed 22.74% over the past three months. So far this year, it has been doing worse than the Nasdaq by 30.55%. The company is currently trading with a market cap of $18.43 billion with an average daily volume of 7.50 million shares.
