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June 07, 2023
Ciena Corporation, Science Applications International Corporation, MongoDB, Inc. are the ones to read about today.
Markets are mixed with Nasdaq drawing back 1.16% to 13,122. S&P 500 trades at 4,266.5 after losing 0.41%.
3Rd quarter earnings season is mostly over, with Aurora Cannabis Inc. & GameStop Corp. 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. Usually, these reports are released four times a year (quarterly reports) and have a significant impact on the market. These announcements are typically taken into consideration when making predictions.
Though markets were flat, stocks have released their quarterly earnings reports. Take a look.
Ciena: mixed results
Ciena Corporation reported earnings results yesterday; with EPS at 0.36 and revenues at $1.13 billion, these results are mixed compared to a consensus of 0.61 Earnings Per Share and $1 billion revenue. Since the release of its earnings report, Ciena Corporation lost 8.07%.
Following yesterday's session which closed at $42.39, Ciena went up to $44.21 today only to drop back and trade at $43.66.
The telecoms networking equipment has shed 16.7% over the past three months. So far this year, it has been doing worse than the Nasdaq by 38.22%. Ciena has a market cap of $6.51 billion with an average daily volume of 2 million shares.
Science Applications International Corporation | Extends $2 since strong earnings report Monday
Science Applications International Corporation released its quarterly earnings report Monday, beating analysts estimates. The company reported earnings of 1.88 per share on revenue of $2 billion, topping estimates of 1.82 per share on revenue of $1.96 billion. Since the release of its earnings report, Science Applications International Corporation gained 2%.
A mostly flat day so far for the next-gen IT support company, range-bound between $102.23 and $103.62 and currently at $103.47.
The next-gen IT support company has shed 10.41% over the past six months. Science Applications International Corporation's market cap currently stands at $5.59 billion with an average daily trading volume of 312,560 shares.
MongoDB: mixed results
MongoDB reported earnings results Thursday, with EPS at -1.15 and revenues at $368.28 million; these results are mixed when compared to a consensus of 0.19 Earnings Per Share and $347.15 million revenue. Since the release of its earnings report, MongoDB gained 27.61%.
The software company slides down from $387.62 to $374.9, losing $12.72 (3.28%).
Elastic: mixed results
Elastic reported earnings results Thursday; with EPS at -0.64 and revenues at $279.94 million, these results are mixed compared to a consensus of 0.1 Earnings Per Share and $277.36 million revenue. Since the release of its earnings report, Elastic lost 6.63%.
The self-managed SaaS provider drops 4.82% in early trade and remains within touching distance of the $68 level.
The US-Dutch search company has recovered 49.02% since descending to a significant low of $47.94 around 4 months ago. So far this year, it has been outperforming the Nasdaq by 20.66%. Elastic's market cap is currently $6.62 billion with an average daily trading volume of 1.33 million shares.
Broadcom: mixed results
Broadcom reported ambiguous earnings results Thursday, with revenue at $8.73 billion, compared to a consensus of $8.71 billion. Since the release of its earnings report, Broadcom lost 1.86%.
After closing at $790 yesterday, Broadcom began today at $789.82 with significant bullish sentiment driving Broadcom's price action higher. So far today, price action has drawn out a distinct $787.51 to $805.45 range.
