Today's Stock Market News & Events: 10/16/2020

A quick run-down of today's earnings events and a recap of yesterday's trading session

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The Dow posted its third-straight loss on Thursday, despite a frantic scramble and brief foray into positive territory in the final hour of trading. The S&P 500 and Nasdaq both closed lower for their third-straight loss as well, while Wall Street's "fear gauge," the Cboe Volatility Index (VIX), scored its fourth-straight win. The Dow Jones Industrial Average (DJI - 28,494.20) dropped 0.7% yesterday. The S&P 500 Index (SPX - 3,483.34) fell0.2% for the day and the Nasdaq Composite (IXIC - 11,713.87) shed 0.5% during Thursday's trading session. Lastly, the Cboe Volatility Index (VIX - 26.97) added 2.2% for the day yesterday. After a pretty frantic day in the market yesterday, we're here to catch you up on some unique trading opportunities that you may have missed during the hysteria, all completely actionable for your convenience:


That's enough about yesterday. Focusing on today, investors will be digging into core retail sales and consumer sentiment data. And the earnings reports won't stop rolling, either!

For your convenience, we have rounded up the companies slated to release their earnings today, October 16:

  • Ally Financial, Inc. (NYSE:ALLY -- $27.87) provides various digital financial products and services in the United States and Canada. Last quarter, we reported that Ally cancel CardWorks acquisition and drove shares up nearly 15%.
    • Ally Financial will report its fiscal second-quarter earnings before the bell today.
  • Badger Meter, Inc. (NYSE:BMI -- $71.83) manufactures and markets flow measurement, control, and communication solutions.
    • Badger Meter will report its fiscal second-quarter earnings before the bell today.
  • The Bank of New York Mellon Corporation (NYSE:BK -- $37.23) provides a range of financial products and services in the United States and internationally. BK has remained essentially flat year-over-year.
    • BNY Mellon will report its fiscal second-quarter earnings before the bell today.
  • CIT Group, Inc. (NYSE: CIT -- $19.74) provides banking and related services to commercial and individual customers. CIT is currently up 4.4% year-over-year.
    • CIT Group will report its fiscal second-quarter earnings before the bell today.
  • Citizens Financial Group, Inc. (NYSE:CFG -- $27.90) provides retail and commercial banking products and services in the United States.
    • Citizens Financial will report its fiscal second-quarter earnings before the bell today.
  • J.B. Hunt Transport, Inc. (NASDAQ:JBHT -- $141.84) provides surface transportation and delivery services. JBHT stock shares soared to record highs after the company's last earnings beat.
    • J.B. Hunt will report its fiscal second-quarter earnings before the bell today.
  • Kansas City Southern (NYSE:KSU -- $184.01) provides domestic and international rail transportation services in North America.
    • Kansas City Southern will report its fiscal second-quarter earnings before the bell today.
  • Schlumberger Limited (NYSE:SLB -- $16.42) supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. SLB is down 38.4% year-to-date.
    • Schlumberger will report its fiscal second-quarter earnings before the bell today.
  • State Street Corporation (NYSE:STT -- $66.95) provides a range of financial products and services to institutional investors worldwide.
    • State Street will report its fiscal second-quarter earnings before the bell today. 
  • V.F. Corp (NYSE:VFC -- $77.74) engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products. VFC is down 18% year-to-date. VFC stock was upgraded earlier last quarter after reporting a growing demand as well as growth in web traffic.
    • V.F. Corp will report its fiscal first-quarter earnings of 2021 before the bell today.

 
We have also rounded up how the earnings confessional played out for all those quarterly reports released yesterday, October 15:

  • Aphria, Inc. (NASDAQ:APHA) cultivates, processes, produces, markets, distributes, and sells medical cannabis. We shared Aphria's latest news on their first certified European shipment of dried flower last week, along with a ton of other cannabis stock news. Aphria reported its fiscal fourth-quarter earnings before the bell yesterday.

APHA STOCK CHART

  • The Charles Schwab Corporation (NYSE:SCHW) provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. Charles Schwab reported its fiscal fourth-quarter earnings before the bell on Thursday.
    • Earnings per share decreased 31.08% year-over-year to $0.51, which beat the estimate of $0.46. Revenue of $2.45 billion decreased by 9.70% from the same period last year, which beat the estimate of $2.43 billion.

SCHW STOCK CHART

  • Commercial Metals Company (NYSE:CMC) manufactures, recycles, and markets steel and metal products, and related materials and services. Commercial Metals will released its third-quarter earnings before the bell yesterday.
    • Earnings per share were up 3.95% over the past year to $0.79, which beat the estimate of $0.60. Revenue of $1.41 billion decreased by 8.68% year-over-year, which beat the estimate of $1.37 billion.

CMC STOCK CHART

  • Home Bancshares, Inc. (NASDAQ:HOMB) operates as the bank holding company for Centennial Bank that provides commercial and retail banking, and related financial services. Home Bancshares reported its fiscal second-quarter earnings before the bell on Thursday.
    • Earnings per share were down 4.55% over the past year to $0.42, which beat the estimate of $0.39. Revenue of $176.09 million rose by 4.99% year-over-year, which beat the estimate of $172.87 million.

HOMB STOCK CHART

  • Morgan Stanley (NYSE:MS) provides various financial products and services to corporations, governments, financial institutions, and individuals. Amid news that Morgan Stanley is set to buy industry giant Eaton Vance (NYSE:EV), MS stock took a dip last week. Morgan Stanley reported its fiscal second-quarter earnings before the bell yesterday.
    • Earnings per share increased 31.40% year-over-year to $1.59, which beat the estimate of $1.28. Revenue of $11.66 billion rose by 16.20% year-over-year, which also beat the estimate of $10.64 billion.

MS STOCK CHART

  • Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) manufactures and sells integrated circuits and semiconductors. TSM has gone up 21.6% year-to-date. We took a look behind the scenes at Taiwan Semi earlier last quarter. Taiwan Semi reported its fiscal second-quarter earnings before the bell on Thursday.
    • Earnings per share were up 45.16% over the past year to $0.90, which beat the estimate of $0.77. Revenue of $12.14 billion rose by 29.20% year-over-year, which beat the estimate of $11.51 billion.

TSM STOCK CHART

  • Truist Financial Corporation (NYSE:TFC) provides banking and trust services in the Southeastern and Mid-Atlantic United States. TFC has increased by a whopping 85.1% year-over-year. Truist Financial reported its third-quarter earnings before the bell yesterday.

TFC STOCK CHART

  • Walgreens Boots Alliance, Inc. (NASDAQ:WBA) operates as a pharmacy-led health and wellbeing company. Here is a closer look at Walgreens' fundamentals set up for a long-term investment option. Walgreens reported its third-quarter earnings before the bell on Thursday.
    • Earnings per share were down 28.67% year-over-year to $1.02, which beat the estimate of $0.96. Revenue of $34.75 billion rose by 2.33% from the same period last year, which beat the estimate of $34.37 billion. Following the upbeat earnings release, we reported on the WBA stock movement to provide actionable trading insights.

WBA STOCK CHART

  • WNS (Holdings) Limited (NYSE:WNS) provides data, voice, analytical, and business transformation services worldwide. WNS has dropped 2.9% year-to-date. WNS reported its fiscal second-quarter earnings before the bell yesterday.

WNS STOCK CHART

  • Westamerica Bancorporation (NASDAQ:WABC) operates as a bank holding company that provides various banking products and services. Westamerica Banc reported its fiscal second-quarter earnings during Thursday's trading session.

WABC STOCK CHART

  • Intuitive Surgical, Inc. (NASDAQ:ISRG) designs, manufactures, and markets da Vinci surgical systems, and related instruments and accessories. Intuitive Surgical reported its fiscal second-quarter earnings after the market closes yesterday.
    • Earnings per share fell 19.24% over the past year to $2.77, which beat the estimate of $2.07. Revenue of $1.08 billion declined by 4.43% from the same period last year, which beat the estimate of $970.97 million.

ISRG STOCK CHART

  • Marten Transport, Ltd. (NASDAQ:MRTN) operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. Marten Transport reported its fiscal second-quarter earnings after the market closes on Thursday.
    • Earnings per share decreased 33.33% over the past year to $0.20, which were in line with the estimate of $0.20. Revenue of $216.01 million rose by 0.48% from the same period last year, which missed the estimate of $220.52 million.

MRTN STOCK CHART


Though investors have already had an incredibly busy month featuring election drama, a second stimulus, and a potential coronavirus vaccine, there is still plenty of data to sift through this upcoming week. Housing data will be highlighted, followed by jobless claims and consumer data later in the week. As earnings season gains steam, the latest quarterly reports will trickle in as well, with several blue-chip names such as IBM (IBM), Intel (INTC), Procter & Gamble (PG), Travelers (TRV), and Verizon (VZ) among the notable reports. So, after the closing bell rings today, make sure you rest up this weekend. There will be no shortage of trading opportunities come Monday.

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


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