Johnson & Johnson, Bank of America, UnitedHealth and other mega cap stocks published their quarterly earnings. Here's what you need to know.
Leading equity indices in the US declined as Nasdaq lost 2.04% and ended the session at 10,971. S&P 500 closed at 3,830.6, a 0.74% change.
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.
After finishing yesterday at $170.71, the consumer pharmaceutical and medical devices company went up by 0.88% today and remained at the $172.21 level. Today's trading volume was 6.11 million shares which is slightly below the 21-day average of 7 million.
Bank of America closed at $35.7 today after ranging between $35.35 and $36.09.
Having set a significant high of $49.38 15 days ago, Bank of America is trading 18.88% lower. So far in 2022, it has performed better than the S&P 500 by 0.92%. Bank of America has a market cap of $286.47 billion with an average daily volume of 47.58 million shares.
The healthcare solutions and services company topped out at $547.64 having ended today at $543.17. However, despite early momentum, the stock gave up its gains to now trade at $543.17. Today's trading volume was 2.70 million shares which is slightly below the 21-day average of 2.82 million.
Having ended a bullish session today at $124.11, momentum helped JP Morgan Chase finish the day $1.41 or 1.15% higher, although mixed sentiments ensured the banking services company etched out a distinct $123 to $125.2 session range. Today's trading volume was 10.74 million shares which is slightly under the 21-day average of 15.16 million.