Broadcom, Visa Inc., Cisco Systems are the ones to read about today.
Leading equity indices in the US rose as Dow Jones gained 1.58% and closed at 34,000. S&P 500 closed the day at 3,990.56, having gained 1.43%.
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.
Broadcom | Retains upward momentum since earnings report Thursday
Broadcom released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 9.75 per share on revenue of $8.93 billion, topping estimates of 9.5 per share on revenue of $8.90 billion. Since the release of its earnings report, Broadcom gained 7.35%.
Broadcom ended Friday at $544.72. yesterday it went up to $556.87 only to drop back, yet still managed to close at $556.63.
Having set a significant high of $674.28 a month ago, the semiconductors design company is trading 27.54% lower. The Nasdaq has been doing worse in 2022, it has been passing it by 26.23%. Broadcom's market cap currently stands at $225.44 billion with an average daily trading volume of 2.24 million shares.
Pronounced bullish sentiment in the market helped the multinational financial services company to make a notable 2.82% gain yesterday, rising $5.89 and ultimately closing at $214.59.
Having set a significant high of $235.42 2 months ago, the electronic funds transfer specialist is trading 17.48% lower. So far in 2022, it has been outperforming the Dow Jones by 4.54%. Visa Inc.'s market cap is currently $349.32 billion with an average daily volume of 7 million shares.
Cisco rallied 84 cents (1.73%) deep into the session, reaching $49.3. Yesterday's trading volume was 14.51 million shares which is slightly under the 21-day average of 19.17 million.
Pronounced bullish sentiment in the market helped the multinational financial services company to make a notable 2.82% gain yesterday, rising $5.89 and ultimately closing at $214.59.
Having set a significant high of $235.42 2 months ago, the electronic funds transfer specialist is trading 17.48% lower. So far in 2022, it has been outperforming the Dow Jones by 4.54%. Visa Inc.'s market cap is currently $349.32 billion with an average daily volume of 7 million shares.