ManpowerGroup Inc., Seagate Technology PLC, Fifth Third Bancorp and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
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. and 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
ManpowerGroup Inc. reported inconclusive earnings results Thursday, with revenue at $4.75 billion, compared to a consensus of $4.81 billion. Since the publication of its earnings report, ManpowerGroup Inc. has declined 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) increased, making up 118% of the 21-day average (310,171).
The data storage specialist has recovered almost all of its session losses after dipping down to $54.34 Friday.
The data storage spearhead reached a significant high of $88.17 around 10 months ago but has lost 35.26% since then. So far this year, it has been outperforming the S&P by 1.15%. Currently, the data storage specialist has a market capitalization of $11.65 billion with an average daily trading volume of 2.58 million shares.
Fifth Third Bancorp | Retains downward momentum since earnings report Thursday
The company reported earnings of 0.69 per share Thursday, 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 consumer bank to end the session lower around $27.48, while establishing a $27.28 to $28 session range Friday. 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 Thursday, 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 Thursday at $168.62, Genuine Parts dropped to $166.24 early in Friday's session and closed at $166.52. In total, it lost 1.25%. Friday's trading volume was 934,185 shares which is slightly under the 21-day average of 1 million.