Bullish sentiment arrives following recent earnings figures among stocks

Workday Inc, Ralph Lauren Corp, Medtronic are the ones to read about today.

Markets closed higher yesterday; Nasdaq gained 2.19% and closed at 12,976. S&P 500 ended the session at 4,205.45 after a 1.3% gain.

Pinduoduo & Booz Allen Hamilton Holding Corporation have released their earnings reports with Five Below, Inc. & Asana, Inc. are set to publish their respective reports as scheduled.

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 were up and stocks have released their quarterly earnings reports. Have a look.

Workday: mixed results

Workday Inc reported earnings results Thursday, with EPS at -0.17 and revenues at $1.68 billion; these results are mixed when compared to a consensus of 1.12 Earnings Per Share and $1.67 billion revenue. Since the release of its earnings report, Workday Inc gained 10.13%.

Workday has posted further gains as part of a 12 day trend that has already seen the stock gain $18.09. Workday pointed in the same direction yesterday: after closing yesterday at $216.07, the cloud applications for finance and human resources provider peaked at $218.88 before giving up early gains and closing at $216.07. Daily trading volume (6.62 million shares) increased, making up 360% of the 21-day average (1.84 million).

Ralph Lauren | Retains upward momentum since earnings report Thursday

Ralph Lauren was down, even though its quarterly earnings released on Thursday beat the analysts’ estimates. The reported earnings of 0.9 per share on revenue of $1.54 billion, topping estimates of 0.61 per share on revenue of $1.47 billion.

Though in the midst of a 4 day uptrend, gaining a total of 4.45%, ($6.04), the prevailing bullish trend is beginning to fade following yesterday's downbeat session. Pronounced bearish sentiment in the market pushed the luxury fashion brand into a notable 1.09% slide yesterday, falling $1.24 and ultimately closing at $112.76. Ralph Lauren's recent uptrend could be petering out after the company eclipsed its average daily volume of 923,227 by 142% today.

Medtronic: mixed results

Medtronic reported inconclusive earnings results Thursday, with revenue at $8.54 billion, compared to a consensus of $8.25 billion. Since the publication of its earnings report, Medtronic has declined 6.89%.

Over the last 22 days, Medtronic has fallen 10.86%. yesterday's session continued the recent downtrend: after ending Thursday at $83.54, Medtronic declined to $81 yesterday before closing at $81.46, thereby losing 2.49% in total. Daily trading volume (8.42 million shares) increased, making up 164% of the 21-day average (5.13 million).