Eli Lilly and Company, Apple, Amazon are the ones to read about today.
Leading equity indices in the US declined as S&P 500 slipped 2.5% and closed at 3,759.69. Nasdaq lost 3.36% and ended the session at 10,525.
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 down, mega cap stocks have released their quarterly earnings reports. Have a look at this rundown.
Lilly | outperforms analyst estimates
The company released its quarterly earnings Tuesday, beating analysts estimates. The company 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. Since the release of its earnings report, Eli Lilly and Company lost 1.97%.
After closing yesterday at $354.96, Lilly peaked at $363.15 before giving up early gains and closing at $354.96.
3 days ago Lilly reached a significant high of $362.09 but has consequently lost 2.63% since then. The S&P has been doing worse in 2022, it has been passing it by 56.39%. Lilly's market cap currently stands at $337.27 billion with an average daily trading volume of 2.85 million shares.
Pronounced bearish sentiment in the market pushed the mobile and tech colossus into a notable 3.73% slide yesterday, falling $5.62 and ultimately closing at $145.03.
The mobile and tech colossus has shed 9.04% over the past three months. So far in 2022, it has performed better than the Nasdaq by 27.14%. Apple is currently trading with a market cap of $2.31 trillion with an average daily volume of 87.48 million shares.
Pronounced bearish market sentiment ensured that the tech and retail multifaceted giant made a notable 4.82% loss yesterday, declining $4.67 and ultimately closing at $92.12.
After hitting an important low of $92.12 approximately a day ago, Jeff Bezos’s company has bounced back 5.07% since. So far in 2022, it has been outperforming the Nasdaq by 2.14%. The company has a market cap of $939.78 billion with an average daily volume of 77.62 million shares.
After ending Tuesday at $333.19, Mastercard declined to $319.63 yesterday before closing at $319.82, thereby losing 4% in total.
Having set a significant high of $396.75 22 days ago, Mastercard is trading 17.58% lower. So far in 2022 it has been beating the S&P by 12.19%. The company's market cap is $307.49 billion with an average daily volume of 3.15 million shares.