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May 15, 2023
Nova Ltd., Western Midstream Partners, LP, Gilat Satellite Networks Ltd. and other stocks published their quarterly earnings. Here's what you need to know.
Leading equity indices in the US declined as Nasdaq closed at 12,300, a 0.35% change. S&P 500 shed 0.16% and closed at 4,124.
3Rd quarter earnings season is mostly over, with Ryanair Holdings plc and Arrival 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 were down, stocks have released their quarterly earnings reports. Have a look at this rundown.
Nova Measuring Instruments: EPS of 1.28, Revenue of $151.24 million
Nova Ltd. trades at $94.12 after the company released its quarterly results.
Pronounced bullish sentiment in the market helped the chemical metrology solutions provider to make a notable 1.14% gain Friday, rising $1.06 and ultimately closing at $94.12. The day's trading volume totalled 67,601 shares — slightly under the 21-day average of 101,022.
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 0.55% since the release of its earnings report.
Grinding lower but with no clear-cut direction, the natural gas distributor closed the session at $25.4 after forming a distinct $25.38 – $25.86 range.
The natural gas distributor is now trading 10.85% below its 3-month high of $29.48. So far this year, it has been doing worse than the Nasdaq by 16.78%. The company has a market cap of $9.77 billion with an average daily trading volume of 677,357 shares.
Gilat: EPS of 0.14, Revenue of $27.72 million
Following the release of quarterly results, Gilat trades at $5.51.
After dipping down to $5.36, Gilat regained earlier losses and reached $5.51.
Having set a significant low of $4.58 19 days ago, the communications equipment manufacturer is trading 19.87% higher. Currently, the communications equipment manufacturer has a market capitalization of $311.95 million with an average daily volume of 113,484 shares.
After dipping down to $26.46, Six Flags regained earlier losses and closed at $26.62. The day's trading volume totalled 1.93 million shares — slightly under the 21-day average of 2.67 million.
Pronounced bearish sentiment in the market pushed the musculoskeletal device solutions provider into a notable 1.08% slide Friday, falling 62 cents and ultimately closing at $56.83.
Having soared to a high of $79.63 approximately 3 months ago, the musculoskeletal device solutions provider is now trading 27.85% lower. The medical device company's market cap currently stands at $5.73 billion with an average daily volume of 1.49 million shares.
