Eli Lilly and Company, Apple, Amazon and other mega cap stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
Leading equity indices in the US declined as Dow Jones was down 1.95% before closing the session at 32,500. After dropping 2.08%, S&P 500 closed at 3,748.57.
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.
Grinding lower but with no clear-cut direction, Lilly closed the session at $363.27 after forming a distinct $361.91 – $369.8 range.
The past 3 months have been positive for Lilly as it added 19.66% compared to its 3-month low of $234.69. So far in 2022, it has performed better than the S&P 500 by 60.65%. Lilly's market cap is currently $345.17 billion with an average daily trading volume of 2.87 million shares.
An influx of sellers pushed the mobile and tech colossus to end the session lower around $134.87, while establishing a $134.59 to $138.54 session range yesterday. Yesterday's trading volume was 74.69 million shares which is slightly under the 21-day average of 92.42 million.
An influx of sellers pushed Jeff Bezos’s company to end the session lower around $86.14, while establishing a $85.87 to $89.48 session range yesterday.
A day ago, Jeff Bezos’s company fell to a low of $86.14 but has since recovered 4.46%. So far in 2022 it has been beating the Nasdaq by 3.26%. The company has a market cap of $878.77 billion with an average daily trading volume of 89.50 million shares.
Early in yesterday's session, Mastercard dropped to $315.15 from $325.75 at the end of Tuesday, before closing at $315.64. During the session, it lost 3.1%.
Having set a significant high of $396.75 29 days ago, Mastercard is trading 14.95% lower. So far in 2022, it has been outperforming the S&P by 12.87%. Mastercard has a market cap of $303.48 billion with an average daily volume of 3.24 million shares.