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May 10, 2023
Gilat Satellite Networks Ltd., Six Flags Entertainment Corporation, Globus Medical, Inc. and other stocks published their quarterly earnings. Here's what you need to know.
Leading equity indices in the US declined as Nasdaq shed 0.63% and closed at 12,180. S&P 500 slipped 0.46% and closed at 4,119.17.
Cyren Ltd. and NanoVibronix, Inc. 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. 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.
Gilat: EPS of 0.14, Revenue of $27.72 million
Following the release of quarterly results, Gilat Satellite Networks Ltd. trades at $5.55.
Gilat ended Monday at $5.43. yesterday it went up to $5.74 only to drop back, yet still managed to close at $5.55. Daily trading volume (216,919 shares) was above the current multiday average of 115,953.
Six Flags | Retains upward momentum since earnings report Monday
Six Flags released its quarterly earnings report Monday, beating analysts estimates. The company reported earnings of -0.76 per share on revenue of $279.88 million, topping estimates of -0.85 per share on revenue of $132.56 million. Since the release of its earnings report, Six Flags gained 24.2%.
The Texan theme park operator went up to $27.87, gaining 4.7%. Daily trading volume (4.65 million shares) was above the current multiday average of 2.56 million.
Globus Medical | beats expected EPS of 0.51
Globus was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.53 per share on revenue of $276.69 million, topping estimates of 0.51 per share on revenue of $254.9 million.
Globus Medical shed 2.61%, falling to $56.65. Trading volume totalled 1 million which equates to around 75% of the stock's 21-day average yesterday.
Live Nation Entertainment | Extends $10.36 since strong earnings report Thursday
Live Nation Entertainment released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of -0.25 per share on revenue of $3.13 billion, topping estimates of -0.45 per share on revenue of $2.32 billion. Since the release of its earnings report, Live Nation Entertainment gained 15.4%.
Without a clear direction, Live Nation Entertainment closed at $77.63 while ranging between $77 and $78.95.
The global entertainment company has recovered 19.1% since descending to a significant low of $65.34 around a month ago. So far this year, it has performed better than the S&P by 5.16%. Live Nation Entertainment has a market cap of $17.98 billion with an average daily volume of 1.73 million shares.
