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May 12, 2023
Nova Ltd., Western Midstream Partners, LP, Gilat Satellite Networks Ltd. and other stocks have published their quarterly earnings.
Markets completed a mixed session yesterday while Dow Jones slipped 0.66% and closed at 33,300. S&P 500 shed 0.17% and closed at 4,130.62.
3Rd quarter earnings season is mostly over, with Mizuho Financial Group, Inc. and Spectrum Brands Holdings, 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.
Nova Measuring Instruments: EPS of 1.28, Revenue of $151.24 million
Nova Ltd. trades at $93.06 after the company released its quarterly results.
Nova ended Wednesday at $91.27. yesterday it went up to $95.22 only to drop back, yet still managed to close at $93.06. Trading volume totalled 84,468 which equates to around 85% of the stock's 21-day average yesterday.
Western Midstream | Retains downward momentum since earnings report Tuesday
The company reported earnings of 0.52 per share Tuesday, falling short of expectations of 0.618. Revenue was also lower than expected at $733.98 million versus $771.64 million. Western Midstream lost 0.31% since the release of its earnings report.
The midstream oil and gas company has recovered almost all of its session losses after dipping down to $25.27 yesterday.
The natural gas distributor has shed 9.81% over the past three months. So far this year, it has been under-performing the Nasdaq by 16.93%. The company is currently trading with a market cap of $9.79 billion with an average daily volume of 677,343 shares.
Gilat: EPS of 0.14, Revenue of $27.72 million
Following the release of quarterly results, Gilat trades at $5.49.
Generally flat but with a slight bullish bias, Gilat ranged between $5.38 and $5.5 before closing higher at $5.49. Trading volume totalled 63,286 which equates to around 56% of the stock's 21-day average yesterday.
Six Flags | Extends $3.74 since strong earnings report Monday
Six Flags was down, even though its quarterly earnings released on Monday beat the analysts’ estimates. The 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.
An influx of sellers pushed the US amusement park operator to session lows around $25.95 while establishing a $25.95 to $26.65 session range yesterday.
The US amusement park operator reached a significant high of $30.4 around 2 months ago but has lost 12.27% since then. Six Flags's market cap currently stands at $2.28 billion with an average daily trading volume of 2.64 million shares.
