Lockheed Martin, Signature Bank, PPG Industries Inc are the ones to read about today.
The leading indices are showing gains — Nasdaq up 1.61%, trading at 11,129. S&P 500 goes up 1.05%, trading at 3,837.26.
Though earnings season has just begun, most of the companies in the S&P 500 reporting Q3 results passed Wall Street estimates. Lockheed Martin & PPG Industries Inc are featured this past week; Microsoft & Alphabet results are expected soon.
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 stocks have released their quarterly earnings reports. Have a look.
Lockheed Martin: mixed results
Lockheed Martin reported mixed earnings results today, with revenue at $16.58 billion (expected at $16.66 billion) and an EPS of 6.87.
After ending yesterday at $457.46, Lockheed Martin is currently trading at $461.27.
Signature Bank: mixed results
Signature Bank reported earnings results Thursday; with EPS at 5.57; these results are inconclusive when compared to a consensus of 5.43 Earnings Per Share. Since the release of its earnings report, Signature Bank lost 2.33%.
Small gain for Signature Bank at $148.74 after ranging between $146.97 and $150.12 today.
Signature Bank is now trading 4.13% above the significant low ($142.31) it slumped to 4 days ago. So far in 2022, it has been under-performing the Nasdaq by 10.17%. Signature Bank's market cap is currently $9.36 billion with an average daily volume of 955,675 shares.
PPG Industries Inc | outperforms analyst estimates
The company released its quarterly earnings Wednesday, beating analysts estimates. The company reported earnings of 1.86 per share on revenue of $4.58 billion, topping estimates of 1.74 per share on revenue of $4.5 billion. Since the release of its earnings report, PPG Industries Inc lost 3.04%.
PPG Industries Inc is on a bit of a rollercoaster today: spiking to $113.74 only to drop back to $111.95, now rallying again to $113.19.
Having set a significant high of $173.1 5 days ago, PPG Industries Inc is trading 3.27% lower. So far in 2022, it has been doing worse than the S&P by 8.07%. PPG Industries Inc's market cap currently stands at $26.75 billion with an average daily trading volume of 1.56 million shares.