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Shriram Finance Q4 Results Live : profit rise by 56.3% YOY
A Flip by Avya Verma
Stocks Surge On Healthy Earnings Season, Rising Jobless Claims: This Week In The MarketsIt's been a quiet week in the markets, marked by a dearth of major economic news and a consistent flow of positive indicators from the first-quarter earnings season.As of May 7, 424 companies in the S&P 500 have disclosed their earnings, with 78% surpassing earnings expectations and 61% exceeding revenue.
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One of the tech stocks more deeply in the red over the past few trading days was advertising technology specialist DoubleVerify Holdings (NYSE: DV). That's because it missed the average analyst estimate for profitability, reduced its guidance, and was socked with several price target cuts from prognosticators.Those factors were too great to overcome.
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Stock investors tend to be a picky lot, and one item they're picky about is a company's financial guidance. It's all well and good to post quarterly results that beat estimates. However, since most market participants are -- sensibly -- more concerned about the future than the past, if a business's forecasts come in under expectations, it can be punished by Mr. Market.
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