F5 Networks Inc, ManpowerGroup Inc., Seagate Technology PLC and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
Leading equity indices in the US declined as S&P 500 closed at 4,071.63, a 1.58% change. After dropping 1.98%, Nasdaq closed at 11,800.
Landstar System, Inc. & PacWest Bancorp 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. 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 were down, stocks have released their quarterly earnings reports. Have a look at this rundown.
F5 Networks | Retains downward momentum since earnings report Monday
The company reported earnings of 1.34 per share Monday, falling short of expectations of 2.42. Revenue was also lower than expected at $7.58 million versus $699 million. Since the release of its earnings report, F5 Networks Inc lost 2.78%
Pronounced bearish sentiment in the market pushed the US online security firm into a notable 2.5% slide yesterday, falling $3.34 and ultimately closing at $130.29. Daily trading volume (703,314 shares) increased, making up 104% of the 21-day average (676,329).
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 5.79%.
After closing at $74.49 on Monday, ManpowerGroup maintained a strong bullish bias that helped the stock close higher at $74.9 yesterday. However, market bears ensured the the workforce solutions provider topped out at $75.2 and that by the end of the session, the market had marked out a distinct $73.43 to $75.2 range. Daily trading volume (579,504 shares) was above the current multiday average of 317,625.
The data storage spearhead has recovered almost all of its session losses after dipping down to $55.97 yesterday. Yesterday's trading volume was 2.39 million shares which is slightly below the 21-day average of 2.60 million.