Johnson & Johnson, Bank of America, UnitedHealth are the ones to read about today.
The leading indices are showing gains — Dow Jones up to 30,674, gaining 1.12%. S&P 500 goes up 0.95%, trading at 3,700.67.
With Q3 earnings season getting underway, around 82.35% of US companies have beaten market estimates so far. This past week, Johnson & Johnson & Bank of America published their earnings reports while Microsoft and Alphabet are scheduled to release their results in the coming days.
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 are up and mega cap stocks have released their quarterly earnings reports. Have a look.
Johnson & Johnson | Retains upward momentum since earnings report Tuesday
Johnson & Johnson released its quarterly earnings report Tuesday, beating analysts estimates. The company reported earnings of 2.55 per share on revenue of $23.79 billion, topping estimates of 2.52 per share on revenue of $23.46 billion. Since the release of its earnings report, Johnson & Johnson gained 0.62%.
The medical devices and pharmaceutical manufacturer trades at $167.63 today, after closing yesterday at $165.11 and gaining $2.52 (1.53%).
Bank of America | Retains upward momentum since earnings report Monday
Bank of America released its quarterly earnings report Monday, beating analysts estimates. The company reported earnings of 0.81 per share on revenue of $24.5 billion, topping estimates of 0.78 per share on revenue of $23.56 billion. Since the release of its earnings report, Bank of America gained 8.25%.
Marginally higher but lacking a clear-cut direction, Bank of America is trading at $34.31 after ranging between $33.56 and $34.61 today.
Having set a significant high of $49.38 10 days ago, Bank of America is trading 13.2% lower. The S&P 500 has been doing worse in 2022, it has been passing it by 3.83%. The company has a market cap of $277.16 billion with an average daily volume of 48.43 million shares.
After closing yesterday at $520.88, the healthcare services provider went up to $532.94 only to drop back some of the way, and is now trading at $528.78.
After ending yesterday at $116.13, JP Morgan Chase is currently trading at $119.28.
Having set a significant high of $171.78 10 days ago, the banking services company is trading 13.9% lower. So far in 2022, it has been under-performing the Dow by 7.57%. The company's market cap is $351 billion with an average daily trading volume of 15.31 million shares.