ManpowerGroup Inc., Seagate Technology PLC, Fifth Third Bancorp are the ones to read about today.
Markets did not have a clear cut direction — Nasdaq closed at 12,072 after a flat day. Dow Jones closed 33,800 after a stable day.
KB Financial Group Inc. & Cousins Properties Incorporated due to release their earnings reports within the following week.
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.
ManpowerGroup: mixed results
The company reported mixed earnings results yesterday, with EPS at 1.88 and revenues at $4.75 billion. Since the release of its earnings report, ManpowerGroup Inc. lost 6.18%.
Generally flat but with a slight bullish bias, ManpowerGroup ranged between $72.93 and $74.64 before closing higher at $74.59. Daily trading volume (366,109 shares) was slightly greater than the current multiday average of 310,171.
The data storage spearhead has recovered almost all of its session losses after dipping down to $54.34 today. Daily trading volume (5.68 million shares) was higher than the current multiday average of 2.58 million.
Fifth Third Bancorp | Retains downward momentum since earnings report yesterday
The company reported earnings of 0.69 per share yesterday, falling short of expectations of 0.79. Revenue was also lower than expected at $2.21 billion versus $2.23 billion. Since the release of its earnings report, Fifth Third Bancorp lost 1.93%
An influx of sellers pushed the US bank holding company to end the session lower around $27.48, while establishing a $27.28 to $28 session range today. Daily trading volume (8.43 million shares) increased, making up 109% of the 21-day average (7.74 million).
Genuine Parts: mixed results
Genuine Parts reported earnings results yesterday, with EPS at 1.86 and revenues at $5.77 billion; these results are mixed when compared to a consensus of 2.03 Earnings Per Share and $5.67 billion revenue. Since the release of its earnings report, Genuine Parts gained 0.01%.
After ending yesterday at $168.62, Genuine Parts dropped to $166.24 early in today's session and closed at $166.52. In total, it lost 1.25%.
The industrial supplies company has recovered 32.54% since descending to a significant low of $127.22 around 10 months ago. So far this year, it has been doing worse than the S&P 500 by 8.1%. The company is currently trading with a market cap of $23.45 billion with an average daily volume of 1 million shares.
