Oshkosh Corporation, Adobe, Jabil Inc. are the ones to read about today.
The leading indices are dropping — Nasdaq trades at 10,600 after losing 1.09%. S&P 500 slipping 0.54% and closing at 3,831.64.
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, stocks have released their quarterly earnings reports. Have a look at this rundown.
Oshkosh Corporation | Bounces 73 cents since downbeat earnings report Friday
The company reported earnings of one per share Friday, falling short of expectations of 1.23. Revenue was also lower than expected at $2 billion versus $2.20 billion. Although earnings did not match projections, Oshkosh Corporation gained 0.87% since the release of its earnings report.
After ending Friday at $84.94, the specialty vehicle manufacturer recovers back to $84.86 after dipping down to $84.86 earlier today.
Adobe: EPS of 2.78, Revenue of $4.53 billion
Adobe trades at $330.58 after the company released its quarterly results.
The digital media and marketing software company slides down from $338.54 to $330.58, losing $7.96 (2.35%).
Adobe hit a significant low of $275.2 around 2 months ago, but has since recovered 23%. So far in 2022, it has performed better than the Nasdaq by 7.89%. The company's market cap currently stands at $153.69 billion with an average daily trading volume of 3.28 million shares.
Jabil: mixed results
The company reported earnings results Thursday; with EPS at 1.61 and revenues at $9.63 billion, these results are mixed compared to a consensus of 1.89 Earnings Per Share and $9.29 billion revenue. Since the release of its earnings report, Jabil lost 6.23%.
The manufacturing company slides down from $69.07 to $68.08, losing 99 cents (1.43%).