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May 24, 2023
Williams-Sonoma, Inc., Palo Alto Networks, Inc., New Relic, Inc. are the ones to read about today.
The leading indices are falling — S&P 500 slipping 0.62% and closing at 4,120. Dow Jones slipping 0.48% and closing at 32,900.
3Rd quarter earnings season is mostly over, with Kohl's Corporation & Splunk 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. 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 are down, stocks have released their quarterly earnings reports. Have a look at this rundown.
Williams-Sonoma retreats 0.82% ahead of quarterly report today
Williams-Sonoma, Inc. is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is 2.36 and the consensus revenue estimate is $1.80 billion.
Williams-Sonoma is down to $110.94, after ending yesterday at $111.85. Overall, a 0.82% loss or 91.5 cents today.
Having soared to a high of $168.87 approximately 9 months ago, the consumer retail company is now trading 33.77% lower. So far this year, it has been doing worse than the Nasdaq by 19.25%. Williams-Sonoma's market cap is currently $7.28 billion with an average daily trading volume of 1 million shares.
Palo Alto Networks: mixed results
Palo Alto Networks reported earnings results yesterday, with EPS at -0.2 and revenues at $1.72 billion; these results are mixed when compared to a consensus of 0.93 Earnings Per Share and $1.71 billion revenue. Since the release of its earnings report, Palo Alto Networks gained 6.81%.
After closing the previous trading day at $189.74, Palo Alto Networks is up to $205.19, which makes for a move of 8.15%/$15.45 today.
New Relic: mixed results
New Relic reported inconclusive earnings results yesterday, with EPS at -0.84 and revenues at $242.49 million. Since the release of its earnings report, New Relic lost 6.92%.
New Relic is down to $77.7, after ending yesterday at $82.51. Overall, a 5.83% loss or $4.81 today.
Zoom: mixed results
Zoom reported inconclusive earnings results Monday, with revenue at $1.11 billion, compared to a consensus of $1 billion. Since the release of its earnings report, Zoom lost 5.78%.
Zoom trades at $65.36, after ending yesterday at $65.65.
Heico is down to $162.87, after ending yesterday at $164.83. Overall, a 1.19% loss or $1.96 today.
Approximately 2 days ago, the aerospace and electronics company reached a significant high of $178.94 but has struggled to hold onto its gains and declined 7.89% since then. So far this year, it has been under-performing the Nasdaq by 8.88%. The company's market cap currently stands at $19.58 billion with an average daily volume of 389,747 shares.
