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March 01, 2023
Black Knight, Inc., Nektar Therapeutics, Grocery Outlet Holding Corp. 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 Nasdaq shed 0.66% and closed at 11,379. S&P 500 lost 0.47% and ended the session at 3,951.39.
3Rd quarter earnings season is mostly over, with Advance Auto Parts Inc & Iovance Biotherapeutics, Inc. 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.
Black Knight | Retains downward momentum since earnings report yesterday
The company reported earnings of 0.43 per share yesterday, falling short of expectations of 0.49. Revenue was also lower than expected at $383.5 million versus $388.84 million. Since the release of its earnings report, Black Knight, Inc. lost 4.08%
An influx of sellers pushed the financial services company to end the session lower around $58.37, while establishing a $58.09 to $59.73 session range today. The volume of trade was 1.23 million shares, close to the daily average of 1.23 million shares.
Nektar Therapeutics: mixed results
Nektar Therapeutics reported earnings results yesterday, with EPS at -0.32 and revenues at $22 million; these results are mixed when compared to a consensus of -0.45 Earnings Per Share and $22.61 million revenue. Since the release of its earnings report, Nektar Therapeutics gained 8.63%.
The polymer conjugate technology developer went up to $1.51, gaining 9.42%. Daily trading volume (4.35 million shares) increased, making up 155% of the 21-day average (2.81 million).
Grocery Outlet | Positive surprise yesterday
Grocery Outlet was down, even though its quarterly earnings released on yesterday beat the analysts’ estimates. The reported earnings of 0.19 per share on revenue of $930.83 million, topping estimates of 0.17 per share on revenue of $907.47 million.
Early in today's session, Grocery Outlet dropped to $25.71 from $27.05 at the end of yesterday, before closing at $26.44. During the session, it lost 2.26%. Daily trading volume (3.25 million shares) increased, making up 316% of the 21-day average (1 million).
Hayward Holdings | Retains downward momentum since earnings report yesterday
The company reported earnings of 0.1 per share and revenue at $258.97 million. Since the release of its earnings report yesterday, Hayward Holdings lost 4.18%.
The pumps and pumping equipment company has recovered almost all of its session losses after dipping down to $12.08 today. Daily trading volume (1.84 million shares) increased, making up 117% of the 21-day average (1.57 million).
