Netflix, First Horizon Corporation, Lockheed Martin are the ones to read about today.
Markets did not have a clear cut direction — S&P 500 closed at 4,155 after a flat day. Dow Jones closed 33,977 after a stable day.
Earnings season has begun and most of the companies in the S&P 500 reporting Q1 results have fallen short of Wall Street estimates, with Bank of New York Mellon Corp & Commerce Bancshares, Inc. featured this past week. STMicroelectronics N.V. and Credit Suisse Group AG are scheduled for publication in the near term.
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 flat and stocks have released their quarterly earnings reports. Here is an update on what to look out for.
Netflix: mixed results
The company reported mixed earnings results today, with EPS at 3.53 and revenues at $8.16 billion, compared to a consensus of 2.85 Earnings Per Share and $8.17 billion revenue.
A quiet day for Netflix as it remained range-bound within a $330.5 – $337.19 range before closing at $333.7. Daily trading volume (12.35 million shares) increased, making up 197% of the 21-day average (6.27 million).
First Horizon Corporation | Negative surprise today
First Horizon Corporation reported earnings of 0.38 per share and revenue at $859 million.
Early in today's session, First Horizon Corporation dropped to $18.21 from $18.54 at the end of yesterday, before closing at $18.35. During the session, it lost 1.02%.
Trading volume totalled 4.50 million which equates to around 55% of the stock's 21-day average today.
Lockheed Martin gains 2.4%, closes at $501.41 ahead of the quarterly earnings report set for today
Lockheed Martin is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is 6.08 and the consensus revenue estimate is $15 billion.
After closing today at $501.41, the aerospace supplier peaked at $508.1 before giving up early gains and closing at $501.41. Daily trading volume (2.52 million shares) increased, making up 176% of the 21-day average (1.43 million).