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 slipping 0.9% and closing at 4,117. Nasdaq trades at 12,021 after losing 1.12%.
Philip Morris International & ManpowerGroup Inc. have released their earnings reports; KB Financial Group Inc. & Carter's, Inc. 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 down, stocks have released their quarterly earnings reports. Have a look at this rundown.
As the current session draws to a close, the data storage specialist remains in the $56.56 – $61.93 range after closing yesterday at $62.86 and dropping by 9.9%.
The data storage specialist has managed to gain 21.16% so far this year despite trading at lows around $48.49 previously. So far this year, it has been beating the S&P by 13.21%. Seagate has a market cap of $11.70 billion with an average daily volume of 2.11 million shares.
Fifth Third Bancorp | Negative surprise today
Fifth Third Bancorp reported earnings of 0.69 per share and revenue at $2.21 billion.
After ending yesterday at $28, the US consumer bank recovers back to $28 after dipping down to $27.5 today.
Genuine Parts: mixed results
Genuine Parts reported mixed earnings results today, with EPS at 1.86 (compared to a consensus of 2.03 Earnings Per Share) and revenue of $5.77 billion.
From an earlier low of $165.8, the industrial supplies company is on track to end the session around $168.28 after gaining $1.78 compared to last trading session's $166.5 (1.07%).
Rexford Industrial | beats expected EPS of 0.23
Rexford Industrial released its quarterly earnings today, beating analysts estimates. The company reported earnings of 0.48 per share on revenue of $186.24 million, topping estimates of 0.23 per share on revenue of $184 million.
As the session comes to an end, the Californian industrial real estate firm recovers back to $56.2 after dipping down to $55.23 earlier.