Broadcom, Shinhan Financial Group Co., Ltd., Costco are the ones to read about today.
Markets were up Friday; S&P 500 closed the day at 4,045.64, having gained 1.61%. Nasdaq ended the session at 11,700 after a 1.97% gain.
3Rd quarter earnings season is mostly over, with Marvell Technology Group Ltd & Best Buy Co 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 were up and 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 9.83 per share on revenue of $8.91 billion, topping estimates of 9.38 per share on revenue of $8.90 billion. Since the release of its earnings report, Broadcom gained 6.6%.
After closing Thursday at $598.65, Broadcom closed at $632.76 Friday after climbing to $635.73 and dropping back down.
The semiconductors design company has gained 15.26% since its lowest print of $427.1 earlier this year. The Nasdaq has been doing worse in 2022, it has been passing it by 3.9%. Currently, the semiconductors company has a market capitalization of $263.81 billion with an average daily trading volume of 2 million shares.
Shinhan Financial | Retains downward momentum since earnings report Thursday
The company reported earnings of 0.68 per share and revenue at $4.92 trillion. Since the release of its earnings report Thursday, Shinhan Financial lost 3.3%.
An influx of buyers helped the Korean fintech company to end the session higher around $28.76, while establishing a $28.3 to $28.78 session range Friday. The day's trading volume totalled 94,695 shares — slightly under the 21-day average of 131,602.
Costco: mixed results
The company reported earnings results Thursday; with EPS at 3.3 and revenues at $54.44 billion, these results are mixed compared to a consensus of 3.2 Earnings Per Share and $55.44 billion revenue. Since the release of its earnings report, Costco lost 0.71%.
After ending Thursday at $485.69, Costco dropped to $465.36 early in Friday's session and closed at $475.26. In total, it lost 2.15%. Daily trading volume (5.21 million shares) was higher than the current multiday average of 1.85 million.