Oracle & Broadcom and other mega cap stocks published their quarterly earnings. Here's what you need to know.
Leading equity indices in the US declined as S&P 500 was down 0.25% before closing the session at 3,839.5. After dropping 0.22%, Dow Jones closed at 33,147.
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 down, mega cap stocks have released their quarterly earnings reports. Have a look at this rundown.
After dipping down to $80.76, Oracle regained earlier losses and reached $81.74. Friday's trading volume was 5.38 million shares which is slightly below the 21-day average of 7.97 million.
After dropping down to $548.54, the semiconductors design company recovers some losses and is currently trading at $559.13.
Broadcom hit a significant low of $427.1 around 2 months ago, but has since recovered 30.6%. The semiconductors company's market cap currently stands at $233.65 billion with an average daily volume of 2.54 million shares.