F5 Networks Inc, ManpowerGroup Inc., Seagate Technology PLC 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.
F5 Networks Inc and Universal Health Services Inc have released their earnings reports; Logitech International S.A. & Ceragon Networks Ltd. will publish their respective reports in due course.
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 are flat and stocks have released their quarterly earnings reports. Here is an update on what to look out for.
F5 Networks | Negative surprise today
The company reported earnings of 1.34 per share today, falling short of expectations of 2.42. Revenue was also lower than expected at $7.58 million versus $699 million.
A quiet day for F5 Networks as it remained range-bound within a $133.12 – $136.3 range before closing at $134.02.
Approximately 11 months ago, the US tech company reached a significant high of $203 but has struggled to hold onto its gains and declined 33.91% since then. So far this year, it has been under-performing the S&P by 14.96%. The company is currently trading with a market cap of $8 billion with an average daily volume of 649,518 shares.
ManpowerGroup: mixed results
ManpowerGroup reported earnings results Thursday; with EPS at 1.88, these results are ambiguous when compared to a consensus of 1.63 Earnings Per Share. Since the release of its earnings report, ManpowerGroup 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 above 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 Friday. Daily trading volume (5.68 million shares) increased, making up 220% of the 21-day average (2.58 million).
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 bank holding company to session lows around $27.28 while establishing a $27.28 to $28 session range Friday.
The US bank holding company has shed 22.39% over the past three months. So far this year, it has been doing worse than the Nasdaq by 29.62%. Fifth Third Bancorp's market cap is currently $18.72 billion with an average daily trading volume of 7.74 million shares.
