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May 21, 2023
Companhia Paranaense de Energia – COPEL, Ross Stores Inc, Advanced Drainage Systems, Inc. and other stocks have published their quarterly earnings.
Leading equity indices in the US declined as Dow Jones was down 0.33% before closing the session at 33,427. Nasdaq slipped 0.24% and closed at 12,658.
Booz Allen Hamilton Holding Corporation and Royal Bank Of Canada 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 were down, stocks have released their quarterly earnings reports. Have a look at this rundown.
Companhia Paranaense de Energia | Retains downward momentum since earnings report Thursday
The company reported earnings of 0.05 per share and revenue at $5.53 billion. Since the release of its earnings report Thursday, Companhia Paranaense de Energia – COPEL lost 1.47%.
Pronounced bearish market sentiment ensured that the Brazilian utilities giant made a notable 0.27% loss Friday, declining 2 cents and ultimately closing at $7.38.
Companhia Paranaense de Energia hit a significant low of $5.79 around 7 months ago, but has since recovered 27.81%. So far this year, it has been doing worse than the Nasdaq by 7.94%. The Brazilian electric utility company's market cap currently stands at $20.20 billion with an average daily volume of 219,129 shares.
Ross Stores | Bounces 97 cents since downbeat earnings report Thursday
The company reported earnings of 0.97 per share Thursday, falling short of expectations of 1.06. Revenue was also lower than expected at $4.49 billion versus $4.50 billion. Although earnings did not match projections, Ross gained 0.93% since the release of its earnings report.
Early in Friday's session, Ross dropped to $99.2 from $105.38 at the end of Thursday, before closing at $104.76. During the session, it lost 0.59%. Daily trading volume (5.95 million shares) increased, making up 281% of the 21-day average (2.12 million).
Advanced Drainage Systems | Extends $7.88 since strong earnings report Thursday
Advanced Drainage Systems was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.95 per share on revenue of $617.56 million, topping estimates of 0.77 per share on revenue of $562.75 million.
An influx of sellers pushed the plastics pipe company to session lows around $95.15 while establishing a $95.15 to $100.6 session range Friday. Daily trading volume (1 million shares) was above the current multiday average of 586,067.
