Today’s Stock Market News & Events: 11/18/2020 – Schaeffer’s Investment Research

Today's Stock Market News & Events: 11/18/2020 - Schaeffer's Investment Research

Stocks pulled back on Tuesday, falling victim to profit-taking just one session removed from new record closes for the Dow and S&P 500 that occurred on Monday following Moderna vaccine news. All three major U.S. market indexes logged losses as retail sales increased less then expected in October and Coronavirus cases continue to spike in the U.S.  Yesterday the Dow Jones Industrial Average (DJI – 29,783.35) lost 167.1 points, while the S&P 500 Index (SPX – 3,609.53) fell 17.4 points for the day. The Nasdaq Composite (IXIC – 11,899.34) shed 24.8 points yesterday. The Cboe Volatility Index (VIX – 22.71) rose 0.3 point on Tuesday.

In case you missed a thing yesterday, here are the highlights from Tuesday:

  • KEYS Unlocks Fresh Highs Ahead of Earnings
  • Signal Says Pharmaceutical Stock Has Room to Run
  • Record Highs Within Reach for COST After Dividend Declaration
  • Value Investors Should Consider Adding Denny’s Stock
  • Options Bulls Hammer Home Depot Stock After Earnings Beat
  • Blue-Chip Mega Retailer Wavers Despite Q3 Earnings Beat
  • BIDU Brushes Off Q3 Beat, Bull Notes
  • This Sports Retailer Has Weathered the Pandemic Well


Today investors will be able to unpack October’s housing and building permits which are slated to be reported today as the only economic data of note. We will, however, see some big retail names entering the earnings confessional, including Lowe’s (NYSE:LOW), Target (NYSE:TGT), Jack in the Box (NASDAQ:JACK), and L Brands (NYSE:LB).

For your convenience, we have rounded up the companies slated to release earnings today, November 18:

Avaya Holdings Corp. (NYSE:AVYA — $19.49) provides digital communications products, solutions, and services for businesses worldwide. Avaya Holdings will report its first-quarter earnings of 2021 before the bell today.

BrightView Holdings, Inc. (NYSE:BV — $15.27) provides commercial landscaping services in the United States. BrightView will report its fourth-quarter earnings before the bell today.

Kingsoft Cloud Holdings Limited (NASDAQ:KC — $37.31) provides cloud services to businesses and organizations in China. Kingsoft Cloud will report its third-quarter earnings before the bell today.

Lowe’s Companies, Inc. (NYSE:LOW — $159.86) operates as a home improvement retailer. Lowe’s will report its third-quarter earnings before the bell today.

Spire, Inc. (NYSE:SR — $64.54) engages in the purchase, retail distribution, and sale of natural gas. Spire will report its fourth-quarter earnings before the bell today.

Target Corporation (NYSE:TGT — $163.04) operates as a general merchandise retailer in the United States. Target will report its third-quarter earnings before the bell today.

The TJX Companies, Inc. (NYSE:TJX — $61.14) operates as an off-price apparel and home fashions retailer. TJX will report its third-quarter earnings before the bell today.

Bilibili, Inc. (NASDAQ:BILI — $50.05) provides online entertainment services for the young generations in the People’s Republic of China. Bilibili will report its third-quarter earnings after the market closes today.

Copa Holdings, S.A. (NYSE:CPA — $73.53) provides airline passenger and cargo services. Copa Holdings will report its third-quarter earnings after the market closes today.

Copart, Inc. (NASDAQ:CPRT — $116.19) provides online auctions and vehicle remarketing services. Copart will report its first-quarter earnings of 2021 after the market closes today.

Jack in The Box, Inc. (NASDAQ:JACK — $87.06) operates and franchises Jack in the Box quick-service restaurants. Jack in The Box will report its fourth-quarter earnings after the market closes today.

Keysight Technologies, Inc. (NYSE:KEYS — $117.56) provides electronic design and test solutions. Keysight will report its fourth-quarter earnings after the market closes today.

Kulicke & Soffa Industries, Inc. (NASDAQ:KLIC — $29.31) designs, manufactures, and sells capital equipment and tools to assemble semiconductor devices. Kulicke & Soffa will report its fourth-quarter earnings after the market closes today.

L Brands, Inc. (NYSE:LB — $35.45) operates as a specialty retailer of women’s intimate and other apparel, personal care, and beauty and home fragrance products. L Brands will report its third-quarter earnings after the market closes today.

Nuance Communications, Inc. (NASDAQ:NUAN — $34.44) provides conversational artificial intelligence (AI) innovations. Nuance Communications will report its fourth-quarter earnings after the market closes today.

NVIDIA Corporation (NASDAQ:NVDA — $536.89) operates as a visual computing company worldwide. NVIDIA will report its third-quarter earnings after the market closes today.

PagSeguro Digital Ltd. (NYSE:PAGS — $45.24) provides financial technology solutions and services. PagSeguro Digital will report its third-quarter earnings after the market closes today.

Shoe Carnival, Inc. (NASDAQ:SCVL — $36.08) operates as a family footwear retailer in the United States. Shoe Carnival will report its third-quarter earnings after the market closes today.

Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM — $45.38) produces and distributes specialty plant nutrients and other products and services. Sociedad Quimica y Minera will report its third-quarter earnings after the market closes today.

Sonos, Inc. (NASDAQ:SONO — $17.14) designs, develops, manufactures, and sells multi-room audio products. Sonos will report its third-quarter earnings after the market closes today.

UGI Corporation (NYSE:UGI — $36.26) distributes, stores, transports, and markets energy products and related services. UGI will report its fourth-quarter earnings after the market closes today.

ZTO Express (Cayman), Inc. (NYSE:ZTO — $33.06) provides express delivery and other value-added logistics services in the People’s Republic of China. ZTO Express will report its third-quarter earnings after the market closes today.

Here is a quick recap of how yesterday’s earning calls panned out compared to expectations:

Aramark (NYSE: ARMK — $35.13) provides food, facilities, and uniform services. Earnings per share fell 151.47% over the past year to ($0.35), which missed the estimate of ($0.34). Revenue of $2,692,000,000 decreased by 31.87% year over year, which beat the estimate of $2,660,000,000.

Evoqua Water Technologies Corp. (NYSE: AQUA — $28.36) provides a range of water and wastewater treatment systems and technologies, and mobile and emergency water supply solutions and services. Earnings per share rose 2800.00% year over year to $0.29, which beat the estimate of $0.22. Revenue of $383,861,000 declined by 6.94% from the same period last year, which beat the estimate of $372,860,000.

The Home Depot, Inc. (NYSE: HD — $279.57) engages in the sale of building materials and home improvement products. Earnings per share increased 25.69% year over year to $3.18, which beat the estimate of $3.05. Revenue of $33,536,000,000 up by 23.19% year over year, which beat the estimate of $32,040,000,000.

Kohl’s Corporation (NYSE: KSS — $26.15) operates as a retail company in the United States. Earnings per share decreased 98.65% year over year to $0.01, which beat the estimate of ($0.43). Revenue of $3,979,000,000 decreased by 13.97% from the same period last year, which beat the estimate of $3,860,000,000.

Sea Limited (NYSE: SE — $178.22) engages in the digital entertainment, e-commerce, and digital financial service businesses. Earnings per share fell 43.75% over the past year to ($0.69), which missed the estimate of ($0.53). Revenue of $1,212,000,000 higher by 58.79% from the same period last year, which missed the estimate of $1,400,000,000.

Walmart, Inc. (NYSE: WMT — $152.44) engages in the retail and wholesale operations in various formats worldwide. Earnings per share rose 15.52% over the past year to $1.34, which beat the estimate of $1.18. Revenue of $134,708,000,000 rose by 5.25% year over year, which beat the estimate of $132,230,000,000.

Varex Imaging Corporation (NASDAQ: VREX — $14.62) designs and manufactures X-ray imaging components. Earnings per share fell 108.70% year over year to ($0.04), which beat the estimate of ($0.10). Revenue of $170,000,000 decreased by 16.01% year over year, which beat the estimate of $162,100,000.

Looking ahead to tomorrow, plenty of data is due out on Thursday. This data includes jobless claims data, the Philly Fed index, and existing home sales. Also set to be reported on is last month’s leading economic indicators. All earnings and economic dates listed here are tentative and subject to change. Please check with each company’s respective website for official reporting dates.

Source: www.schaeffersresearch.com

Author: Schaeffer’s Digital Content Team


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    Housing market is HOT: Homes selling in hours, multiple offers

    Housing market is HOT: Homes selling in hours, multiple offers

    It’s a seller’s market. People are paying thousands over the listing price to get their dream home.

    NEWPORT NEWS, Va. — Homes are being sold before you see the for-sale sign in the yard.

    According to Real Estate Information Network Inc (REIN) active inventory on homes in the Hampton Roads market during the month of October is down about 39 percent year-over-year. There are more than 4,800 homes are on the market today compared to about 8,000 last year.

    It’s a red-hot real estate market across the United States, especially in Hampton Roads. Low interest rates and little inventory is creating a surge in sales.

    “We put in probably five or six offers on different houses but there are so many offers, it’s just a matter of who is going to win,” Dawn Decker said.

    It took more than two months for Decker and her husband Kevin Zingraff to find their dream home in Hampton Roads after getting outbid on several homes. The family is relocating from Richmond.

    “We’ve offered to forgo home inspections on a couple of properties just in the hopes of maybe that would sway, and we could get the house that we wanted. We’ve offered above asking price. We’ve gone as far as $10,000 over ask. It still hasn’t worked out for us,” Decker explained.

    The couple even submitted offers on houses they haven’t even seen in person. Forget photographs, their real-estate agent Kit Lockett uses FaceTime.

    “The one that checked all the boxes, it was on the market for one day. We saw it as soon as it came on the market. By the time we could get in touch with her, there was already four other offers,” Zingraff explained.

    Lockett calls it the season for sellers. She said if you want to sell your home, it’s time to do it, although she expects this hot market to last for a while.

    “Not one of us expected this market to go this way,” she explained. “As long as these current conditions are ongoing and these interest rates stay low, which they are predicted to do, I don’t see any change in…

    Source: www.newsforproperty.com

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    Today's Stock Market News & Events: 11/18/2020 - Schaeffer's Investment Research


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