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June 16, 2023
Adobe, Jabil Inc., Lennar Corp are the ones to read about today.
The leading indices are falling — Nasdaq drawing back 0.6% to 13,700. S&P 500 slipping 0.29% and closing at 4,413.
The earnings season is coming to an end and Canopy Growth Corporation and 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 are down, stocks have released their quarterly earnings reports. Have a look at this rundown.
Adobe: mixed results
Adobe reported earnings results yesterday, with EPS at 2.7 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 3.72%.
From an earlier low of $496.7, the digital media and marketing software company is on track to end the session around $497.37 after gaining $6.45 compared to last trading session's $490.91 (1.31%). The trading volume is at 9.79 million, 195% above the 21-day average of 5 million.
Jabil: mixed results
Jabil reported earnings results yesterday, with EPS at 1.52 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 5.38%.
As the trading session draws to a close Jabil is ticking higher but remains broadly flat: the manufacturing company is currently trading at $105.05 but remains in a $103.31 – $106.44 range.
Lennar | Extends $3.95 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 3.4%.
As we reach the end of the session, the Florida home construction company trades at $119.95 with no clear-cut direction and ranging between $119.86 and $121.93.
The Florida home construction company now trading 19.58% above its 3-month low of $64.49. The S&P 500 has been doing worse in 2022, it has been passing it by 19.53%. Currently, the home construction and real estate company has a market capitalization of $34.15 billion with an average daily volume of 2.77 million shares.
Centrais Electricas Brasileiras slips 1.88% ahead of quarterly report Monday
Centrais Electricas Brasileiras is trading in a $8.03 – $8.18 range prior to its earnings announcement.
Centrais Electricas Brasileiras falls 15.5 cents as trading session draws to a close around the $8.11 level.
