Though major indexes experienced weakness towards the end of last month, the trend changed for the better when stock markets opened this week. The recovery continued since then, led by the technology sector that had witnessed a pull-back earlier. However, the market is expected to remain volatile until the White House strikes a final deal on the controversial bill on the $2.2 trillion fiscal stimulus.
On Friday, the markets turned jittery following reports of President Donald Trump testing positive for COVID-19. Earlier, concerns about the economic recovery increased after reports of the country’s private sector adding fewer jobs than expected. At 661,000, the number of jobs added in September was below the previous month’s level.
Proving its critics wrong yet again, Tesla this week said it achieved production and delivery goals for the third quarter, exceeding expectations. After a long lull — thanks to the COVID crisis – M&A activity seems to be picking up, with Walmart reaching an agreement with Issa Brothers and TDR Capital to sell its UK unit Asda. Elsewhere, media reports revealed that Goldman Sachs has agreed to acquire the credit card business of General Motors for $2.5 billion.
With the next earnings season about to start later this month, there are only a few announcements scheduled for the next week. Major announcements include Levi Strauss & Co and Paychex slated for Tuesday. Domino’s Pizza (DPZ) and Acuity Brands (AYI) will unveil their latest quarterly numbers on Thursday.
Key Earnings to Watch
Key Investor Days to Watch
Key Corporate Conferences to Watch
Key US Economic Events
The following are notable companies which have reported their earnings last week. In case if you have missed to catch up on their performance, click the respective links to skim through the transcripts to glean more insights.
If you want to listen to how management responds to analyst questions and the tone they use, you can head over to our YouTube channel to listen to conference calls on the go.
JetBlue Airways Corporation (NASDAQ: JBLU) reported third quarter 2020 earnings results today. Total operating revenues declined 76% year-over-year to $492 million. The company reported a net loss of $393 million,
Merck & Co., Inc. (NYSE: MRK) reported stronger than expected earnings and sales for the third quarter of 2020. The company's stock gained early Tuesday immediately after the announcement. Worldwide
Bringing fresh optimism to the virus-hit market, U.S jobless claims for the week ended October 17 slipped to the lowest level since the onset of the pandemic, in a sign