Canon gains 1.12%, closes at $22.63 ahead of the quarterly earnings report set for today

Published: January 26 2023, 07:00 GMT+0

Canon gains 1.12%, closes at $22.63 ahead of the quarterly earnings report set for today

A quick look at yesterday: bullish sentiment helped the Japanese imaging company to hammer out a noteworthy $22.48 to $22.73 range yesterday, and finally closing at $22.63 to end the session.

  • Daily trading volume (399,687 shares) increased, making up 105% of the 21-day average (380,397).

Yesterday's closing bell ended a trading session in which after losing 0.18%, Nasdaq closed at 11,300 yesterday. Canon was largely unchanged while the broader Technology sector added 1.12%.

Canon is scheduled to announce earnings results today. The consensus EPS estimate is 0.52 and the consensus revenue estimate is $9 billion.

The photography industry leader has gained 2.9% since its lowest print of $20.85 earlier this year. So far this year, it has been under-performing the Nasdaq by 5.27%. The company's market cap currently stands at $22.98 billion with an average daily volume of 380,397 shares.

A look at other technology stocks also showed bullish price action as ASML Holding was up 1.72%.

While Canon was bullish yesterday, the following technology stocks underperformed: TSM lost 2.27% yesterday and closed at $92.41. Texas Instruments went down to $175.04, losing 1.13% after it closed at $177.04 yesterday.

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