Seagate Technology PLC, Fifth Third Bancorp, Genuine Parts Co and other stocks published their quarterly earnings. Here's what you need to know.
The leading indices were losing ground — S&P 500 trades at 4,142.69 after losing 0.28%. Nasdaq drawing back 0.23% to 12,130.
KB Financial Group Inc. & Carter's, Inc. due to release their earnings reports within the following week.
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 down, stocks have released their quarterly earnings reports. Have a look at this rundown.
The data storage spearhead drops 5.76% in early trade and remains within touching distance of the $59.24 level. Current trading volume stands at 2.93 million; 139% higher than the 21-day average of 2.11 million.
Fifth Third Bancorp: falls short of estimations
Fifth Third Bancorp reported earnings of 0.69 per share and revenue at $2.21 billion.
After ending yesterday at $28, the US bank holding company recovers back to $27.97 after dipping down to $27.5 earlier today.
Genuine Parts: mixed results
The company reported mixed earnings results today, with EPS at 1.86 and revenues at $5.77 billion, compared to a consensus of 2.03 Earnings Per Share and $5.67 billion revenue.
The auto replacement part service trades at $168.94 today, after closing yesterday at $166.5 and gaining $2.44 (1.47%).