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June 17, 2023
Adobe, Jabil Inc., Lennar Corp and other stocks have published their quarterly earnings.
Leading equity indices in the US declined as after dropping 0.68%, Nasdaq closed at 13,700. S&P 500 closed at 4,409.59, a 0.37% change.
The earnings season is coming to an end and Canopy Growth Corporation & Adobe have release their reports.
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.
Adobe: mixed results
Adobe reported earnings results Thursday, with EPS at 3.04 and revenues at $4.82 billion; these results are mixed when compared to a consensus of 3.79 Earnings Per Share and $4.43 billion revenue. Since the release of its earnings report, Adobe gained 3.26%.
Pronounced bullish sentiment in the market helped the digital media software company to make a notable 0.87% gain yesterday, rising $4.27 and ultimately closing at $495.18. Daily trading volume (13.16 million shares) was higher than the current multiday average of 5.53 million.
Jabil: mixed results
Jabil reported earnings results Thursday, with EPS at 1.85 and revenues at $8.47 billion; these results are mixed when compared to a consensus of 1.87 Earnings Per Share and $8.20 billion revenue. Since the release of its earnings report, Jabil gained 5.69%.
Generally flat but with a slight bullish bias, Jabil ranged between $103.31 and $106.5 before closing higher at $105.36. Daily trading volume (2.14 million shares) was higher than the current multiday average of 1.17 million.
Lennar | Extends $4 since strong earnings report Wednesday
Lennar released its quarterly earnings report Wednesday, beating analysts estimates. The company reported earnings of 2.94 per share on revenue of $8 billion, topping estimates of 2.31 per share on revenue of $7.18 billion. Since the release of its earnings report, Lennar gained 3.46%.
Without a clear direction, Lennar closed at $120 while ranging between $119.85 and $121.95. Daily trading volume (4.16 million shares) was higher than the current multiday average of 2.91 million.
Centrais Electricas Brasileiras loses 3.03%, closes at $8 ahead of quarterly report Monday
Centrais Electricas Brasileiras is trading in a $8 – $8.18 range prior to its earnings announcement.
After ending Thursday at $8.26, Centrais Electricas Brasileiras declined to $8 yesterday before closing at $8, thereby losing 3.03% in total. Daily trading volume (2.99 million shares) was higher than the current multiday average of 1.46 million.
