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June 07, 2023
Thor Industries, Inc., Ciena Corporation, Science Applications International Corporation are the ones to read about today.
Markets completed a mixed session today while after dropping 1.29%, Nasdaq closed at 13,100. S&P 500 shed 0.38% and closed at 4,267.52.
Oracle & HEXO Corp. 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. 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.
Markets are flat and stocks have released their quarterly earnings reports. Here is an update on what to look out for.
Thor Industries | Retains upward momentum since earnings report yesterday
Thor Industries, Inc. released its quarterly earnings report yesterday, beating analysts estimates. The company reported earnings of 6.32 per share on revenue of $2.93 billion, topping estimates of 1.07 per share on revenue of $2.82 billion. Since the release of its earnings report, Thor Industries, Inc. gained 18.75%.
After closing at $93.15 on yesterday, Thor Industries rallied as high as $95.74 but ended the day at $94. Daily trading volume (1.31 million shares) increased, making up 219% of the 21-day average (600,695).
Ciena: mixed results
Ciena reported inconclusive earnings results yesterday, with revenue at $1.13 billion, compared to a consensus of $1 billion. Since the publication of its earnings report, Ciena has declined 8.88%.
After closing at $42.39 on yesterday, Ciena maintained a strong bullish bias that helped the stock close higher at $43.28 today. However, market bears ensured the the software services supplier topped out at $44.21 and that by the end of the session, the market had marked out a distinct $42.47 to $44.21 range. Daily trading volume (3.61 million shares) increased, making up 173% of the 21-day average (2 million).
Science Applications International Corporation | Extends $2.36 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 2.33%.
After closing at $103.17 on yesterday, Science Applications International Corporation maintained a strong bullish bias that helped the stock close higher at $103.81 today. However, market bears ensured the the next-gen IT support company topped out at $104.11 and that by the end of the session, the market had marked out a distinct $102.23 to $104.11 range. Daily trading volume (381,409 shares) increased, making up 122% of the 21-day average (312,560).
