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June 24, 2023
Canopy Growth Corporation, Accenture plc Class A (Ireland), Darden Restaurants Inc and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
Leading equity indices in the US declined as S&P 500 lost 0.77% and ended the session at 4,348.33. Nasdaq shed 1% and closed at 13,500.
The earnings season is coming to an end and Carmax Inc & Accenture plc Class A (Ireland) 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.
Canopy Growth: mixed results
The company reported earnings results Thursday; with EPS at -0.42 and revenues at $98.15 million, these results are mixed compared to a consensus of -0.15 Earnings Per Share and $73.19 million revenue. Since the release of its earnings report, Canopy Growth Corporation lost 13.72%.
After ending Thursday at 60.14 cents, Canopy Growth dropped to 50 cents early in yesterday's session and closed at 51.75 cents. In total, it lost 13.95%. Daily trading volume (26.50 million shares) was higher than the current multiday average of 12.55 million.
Accenture (Class A): mixed results
Accenture (Class A) reported ambiguous earnings results Thursday, with revenue at $16.56 billion, compared to a consensus of $16.56 billion. Since the release of its earnings report, Accenture (Class A) lost 4.72%.
After ending Thursday at $307.25, Accenture (Class A) declined to $297.7 yesterday before closing at $298.43, thereby losing 2.87% in total. Daily trading volume (4.23 million shares) was slightly greater than the current multiday average of 3.46 million.
Darden Restaurants: EPS of 2.24, Revenue of $2.77 billion
Following the release of quarterly results, Darden Restaurants trades at $161.3.
Despite the risk-off mood, Darden Restaurants was range-bound between $160.1 to $165.54 and settled at $161.3. Daily trading volume (2.51 million shares) was higher than the current multiday average of 1.44 million.
Centrais Electricas Brasileiras gains 2.09%, closes at $8.32 ahead of the quarterly earnings report set for Monday
Centrais Electricas Brasileiras trades at $8.32 ahead of quarterly performance report which is scheduled to be released Monday.
The hydroelectric power generation company rallied 2.09% and maintained $8.32. Yesterday's trading volume was 1 million shares which is slightly under the 21-day average of 1.53 million.
