Eli Lilly and Company, Apple, Amazon are the ones to read about today.
Leading equity indices in the US rose as Dow Jones gained 1.26% and closed at 32,400. S&P 500 closed the day at 3,770.55, having gained 1.36%.
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 mega cap stocks have released their quarterly earnings reports. Have a look.
Lilly: better than estimations
Eli Lilly and Company was down, even though its quarterly earnings released on Tuesday beat the analysts’ estimates. The reported earnings of 1.98 per share on revenue of $6.94 billion, topping estimates of 1.92 per share on revenue of $6.89 billion.
Pronounced bearish market sentiment ensured that Lilly made a notable 1.18% loss yesterday, declining $4.27 and ultimately closing at $357.41.
The past 3 months have been positive for Lilly as it added 16.65% compared to its 3-month low of $234.69. The S&P has been doing worse in 2022, it has been passing it by 58.62%. The company's market cap is $339.60 billion with an average daily volume of 2.81 million shares.
After dropping down to $134.38, the mobile and tech colossus recovers some losses and is currently trading at $138.38. Daily trading volume (140.81 million shares) increased, making up 153% of the 21-day average (91.80 million).
Generally flat but with a slight bullish bias, Amazon ranged between $88.04 and $92.44 before closing higher at $91.
Jeff Bezos’s company has shed 36.62% over the past three months. So far in 2022 it has been beating the Nasdaq by 4.73%. The company has a market cap of $928.15 billion with an average daily trading volume of 86 million shares.
Bullish sentiment helped Mastercard to hammer out a noteworthy $313.24 to $322.43 range yesterday, and finally closing at $318.37 to end the session.
Having set a significant high of $396.75 24 days ago, Mastercard is trading 9.1% lower. So far in 2022, it has been outperforming the S&P 500 by 13.05%. The company has a market cap of $306.10 billion with an average daily trading volume of 3.19 million shares.