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May 09, 2023
Gilat Satellite Networks Ltd., Six Flags Entertainment Corporation, Globus Medical, Inc. are the ones to read about today.
Markets completed a mixed session yesterday while Dow Jones shed 0.17% and closed at 33,619. Nasdaq gained 0.18% and closed at 12,257.
3Rd quarter earnings season is mostly over, with Iovance Biotherapeutics, Inc. & Hawaiian Electric Industries, Inc. 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.
Gilat: EPS of 0.14, Revenue of $27.72 million
Following the release of quarterly results, Gilat Satellite Networks Ltd. trades at $5.43.
Pronounced bullish sentiment in the market helped the Israeli VSAT satellite ground station company to make a notable 4.22% gain yesterday, rising 22 cents and ultimately closing at $5.43. Daily trading volume (142,399 shares) was slightly greater than the current multiday average of 108,739.
Six Flags | Extends $4.18 since strong earnings report yesterday
Six Flags released its quarterly earnings report yesterday, beating analysts estimates. The company reported earnings of -0.76 per share on revenue of $279.88 million, topping estimates of -0.85 per share on revenue of $132.56 million. Since the release of its earnings report, Six Flags gained 18.63%.
After closing Friday at $22.44, Six Flags closed at $26.62 yesterday after climbing to $28.5 and dropping back down. Daily trading volume (7.91 million shares) increased, making up 327% of the 21-day average (2.42 million).
Globus | Retains upward momentum since earnings report Thursday
Globus was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.53 per share on revenue of $276.69 million, topping estimates of 0.51 per share on revenue of $254.9 million.
The medical device company has recovered almost all of its session losses after dipping down to $57.51 yesterday. The day's trading volume totalled 902,783 shares — below the 21-day average of 1.45 million.
Live Nation Entertainment | Retains upward momentum since earnings report Thursday
Live Nation Entertainment released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of -0.25 per share on revenue of $3.13 billion, topping estimates of -0.45 per share on revenue of $2.32 billion. Since the release of its earnings report, Live Nation Entertainment gained 15.68%.
After closing at $77.16 on Friday, Live Nation Entertainment maintained a strong bullish bias that helped the stock close higher at $77.82 yesterday. However, market bears ensured the the global entertainment company topped out at $78.23 and that by the end of the session, the market had marked out a distinct $76.69 to $78.23 range. Daily trading volume (2.30 million shares) was above the current multiday average of 1.67 million.
