Oracle & Broadcom and other mega cap stocks have published their quarterly earnings.
Leading equity indices in the US declined as after dropping 1.11%, S&P 500 closed at 3,852.36. Dow Jones was down 0.85% before closing the session at 32,920.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. These reports are typically announced once a quarter, and their timing is considered when making predictions about the market due to the large impact they have on it.
Markets were down, mega cap stocks have released their quarterly earnings reports. Have a look at this rundown.
Oracle | beats expected EPS of 1.18
Oracle was down, even though its quarterly earnings released on Tuesday beat the analysts’ estimates. The reported earnings of 1.21 per share on revenue of $12.28 billion, topping estimates of 1.18 per share on revenue of $12 billion.
Despite the risk-off mood, Oracle was range-bound between $79.48 to $80.46 and settled at $79.58. Daily trading volume (14.94 million shares) increased, making up 184% of the 21-day average (8.13 million).
The semiconductors company has recovered almost all of its session losses after dipping down to $550.87 Friday. Daily trading volume (4.95 million shares) increased, making up 200% of the 21-day average (2.50 million).