Oracle & Broadcom are the ones to read about today.
The leading indices are currently lower — Nasdaq slipping 1.46% and closing at 10,344. S&P 500 trades at 3,821.59 after losing 0.6%.
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 are down, mega cap stocks have released their quarterly earnings reports. Have a look at this rundown.
As we reach the end of the session, the enterprise IT company trades at $80.8 with no clear-cut direction and ranging between $80.61 and $81.47.
From an earlier low of $546.94, the semiconductors design company is on track to end the session around $554.63 after gaining $2.2 compared to last trading session's $552.43 (0.4%).
Broadcom hit a significant low of $427.1 around 2 months ago, but has since recovered 29.34%. So far in 2022, it has been outperforming the Nasdaq by 34.1%. Broadcom's market cap currently stands at $231.77 billion with an average daily volume of 2.67 million shares.