PPG Industries Inc, Johnson & Johnson, Lockheed Martin are the ones to read about today.
Markets were up yesterday; Dow Jones closed the day at 30,524, having gained 1.12%. S&P 500 closed the day at 3,720, having gained 1.14%.
Earnings season has just started and most of the companies in the S&P 500 reporting Q3 results have beaten Wall Street estimates, with UnitedHealth and Johnson & Johnson featured this past week. Looking forward, investors are expecting earnings results for Microsoft and Alphabet imminently.
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 up and mid cap and over stocks have released their quarterly earnings reports. Have a look.
PPG Industries Inc: outperforms predictions
PPG Industries Inc released its quarterly earnings today, beating analysts estimates. The company reported earnings of 1.86 per share on revenue of $4.58 billion, topping estimates of 1.74 per share on revenue of $4.5 billion.
PPG Industries Inc gained 3.03% and stayed at $116.74 levels. The day's trading volume totalled 1 million shares — slightly below the 21-day average of 1.38 million.
Johnson & Johnson: outperforms predictions
Johnson & Johnson was down, even though its quarterly earnings released on yesterday beat the analysts’ estimates. The reported earnings of 2.55 per share on revenue of $23.79 billion, topping estimates of 2.52 per share on revenue of $23.46 billion.
An influx of sellers pushed the medical devices and pharmaceutical manufacturer to end the session lower around $166, while establishing a $163.05 to $167.06 session range yesterday.
The consumer pharmaceutical and medical devices company is now trading 10.44% below the significant high of $186 it set around 5 months ago. So far in 2022 it has been beating the Dow by 16.87%. The company has a market cap of $436.47 billion with an average daily volume of 7.13 million shares.
Lockheed Martin: mixed results
Lockheed Martin reported mixed earnings results Tuesday, with EPS at 6.87 (compared to a consensus of 6.66 Earnings Per Share) and revenue of $16.58 billion.
Lockheed Martin ended Monday at $397.31. yesterday it went up to $435.51 only to drop back, yet still managed to close at $431.84. Daily trading volume (4.54 million shares) was above the current multiday average of 1.37 million.
Netflix: better than estimations
Netflix was down, even though its quarterly earnings released on yesterday beat the analysts’ estimates. The reported earnings of 3.1 per share on revenue of $7.93 billion, topping estimates of 2.18 per share on revenue of $7.85 billion.
The streaming company has almost recovered all its losses from a previous close of $245.1 after dipping down to $237.73 yesterday. Daily trading volume (25.78 million shares) increased, making up 197% of the 21-day average (13 million).
Goldman Sachs: exceeds expectations
Goldman Sachs released its quarterly earnings report yesterday, beating analysts estimates. The company reported earnings of 8.25 per share on revenue of $11.98 billion, topping estimates of 7.8 per share on revenue of $11.37 billion. Since the release of its earnings report, Goldman Sachs gained 2.33%.
Pronounced bullish sentiment in the market helped the investment banking giant to make a notable 2.33% gain yesterday, rising $7.14 and ultimately closing at $313.85. Daily trading volume (6.37 million shares) increased, making up 280% of the 21-day average (2.27 million).