Bullish sentiment arrives following recent earnings figures among stocks

Workday Inc, Ralph Lauren Corp, Medtronic and other stocks published their quarterly earnings. Here's what you need to know.

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

3Rd quarter earnings season is mostly over, with Pinduoduo & Booz Allen Hamilton Holding Corporation releasing their earnings reports just this week.

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 lived up to expectations yesterday by maintaining its set course — the cloud applications for finance and human resources provider rose as high as $218.88 before giving up its gains and dropping back to $216.07 before the close on yesterday. Daily trading volume (6.62 million shares) was higher than the current multiday average of 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

The company reported earnings results Thursday; with EPS at 1.52 and revenues at $8.54 billion, these results are mixed compared to a consensus of 1.56 Earnings Per Share and $8.25 billion revenue. Since the release of its earnings report, Medtronic lost 6.89%.

Medtronic's bearish run has lasted 22 days so far (-$7.84). 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) was higher than the current multiday average of 5.13 million.