Today's Earnings Report Schedule: 10/07/2020

A quick rundown of today's market-moving events

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After Federal Reserve Chairman Jerome Powell sparked stimulus hopes yesterday in calling for additional financial aid, stocks dropped off a cliff after U.S. President Donald Trump announced that second stimulus negotiations will be postponed until after the November election. All three major inboxes closed out Tuesday in the red, with pressure from Big Tech stocks and stimulus-dependent airline names.

The Dow Jones Industrial Average (DJI - 27,772.76) fell 375.9 points on Tuesday. Meanwhile, the S&P 500 Index (SPX - 3,360.97) fell 47.7 points for the day yesterday, and the Nasdaq Composite (IXIC - 11,154.60) dropped 177.9 points. The Cboe Volatility Index (VIX - 29.48) tacked on 1.5 points for the day for its sixth-straight win.

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Investors and traders alike anxiously await the Fed's meeting minutes that are set to be released today. Crude oil inventory data is due out today as well. There are a small handful of companies entering the earnings confessional today, and we have gathered them below for your convenience.

  • Lamb Weston Holdings, Inc. (NYSE: LW -- $70.16) produces, distributes, and markets value-added frozen potato products worldwide.

    - Lamb Weston will report its fiscal fourth-quarter earnings before the bell today.

  • RPM International, Inc. (NYSE: RPM -- $84.43) manufactures and sells specialty chemicals for the industrial, specialty, and consumer markets worldwide. RPM is up 9.1% year-to-date.

    - RPM will report its fiscal fourth-quarter earnings before the bell today.

  • Resources Connection, Inc. (NASDAQ: RGP -- $11.73) provides consulting services to business customers in North America, Europe, and the Asia Pacific.

    - Resources Connection will report its fiscal fourth-quarter earnings after the market closes today.


Now, here is a recap of how yesterday’s earnings played out compared to expectations:

  • Paychex, Inc. (NASDAQ: PAYX -- $79.43) provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services. The company reported its fiscal fourth-quarter earnings before the bell yesterday.
    • Earnings per share decreased 11.27% year-over-year down to $0.63, beating the estimate of $0.55. Revenue decreased by 6.03% compared to the same period last year, beating Wall Street’s estimate of $895.38 million.

       

  • Levi Strauss & Co. (NYSE: LEVI -- $14.74) operates as an apparel company. The company reported its fiscal first quarter earnings after the market closed yesterday.
    • Earnings per share decreased 74.19% year-over-year down to $0.08, beating the estimate of -$0.22. Revenue decreased by 26.54% compared to the same period last year, beating Wall Street’s estimate of $822.24 million.


The economic news calendar slows down tomorrow with just weekly jobless claims on the schedule. The earnings docket looks a bit more interesting, though, with Acuity Brands (AYI), Delta Air Lines (DAL), and Domino's Pizza (DPZ) set to report earnings. Keep an eye out for the monthly forecast from the United States Department of Agriculture on Friday, October 9.

All earnings and economic dates listed on SchaeffersResearch.com are tentative and subject to change. Please check with each company's respective website for official reporting dates.

 

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