Today's Stock Market News & Events: 10/19/2020

Another day in earnings season paradise

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For the week last week, all three benchmarks posted modest gains, with the Dow and S&P 500 locking in three straight, and the Nasdaq posting its fourth-straight weekly gain.  The Dow Jones Industrial Average (DJI - 28,606.31) rose 112.1 points, or 0.4% on Friday. For the week, the Dow rose 0.06%. The S&P 500 Index (SPX - 3,483.81) closed up 0.5 point, or 0.01% for the day on Friday, and up 0.2% for the week. On the other hand, the Nasdaq Composite (IXIC - 11,671.56) lost 42.3 points, or 0.4% for the day on Friday, but tacked on an 0.8% gain for the week last week. Lastly, the Cboe Volatility Index (VIX - 27.41) gained 0.4 point, or 1.6% on Friday, and 9.6% from last week's trading sessions.

Welcome back, traders! We hope you enjoyed your weekend and you're ready to roll. ICYMI on Friday... we dropped some major actionable trade ideas and stock insights:

OK, now it's time to dive straight into today's agenda. We will be kicking this week off with the NAHB home builders' index and the Federal Budget for September today, along with another beyond-packed earnings schedule to keep an eye on.

For your convenience, we have rounded up the companies slated to release their earnings today, October 19:

  • Halliburton Company (NYSE:HAL -- $12.25) provides a range of services and products to oil and natural gas companies worldwide. HAL is currently down 46.4% year-over-year.
    • Halliburton will report its fiscal second-quarter earnings before the bell today.
  • HNI Corporation (NYSE:HNI -- $36.03) sells office furniture and hearth products.
    • HNI will report its fiscal second-quarter earnings before the bell today.
  • Lennox International, Inc. (NYSE:LII -- $288.22) designs, manufactures, and markets a range of products for the heating, ventilation, air conditioning, and refrigeration markets.
    • Lennox will report its fiscal second-quarter earnings before the bell today.
  • Old National Bancorp (NASDAQ:ONB -- $13.76) provides various financial services to individual and commercial customers in the United States.
    • Old National Bancorp will report its fiscal second-quarter earnings before the bell today.
  • Koniklijke Philips N.V.  (NYSE:PHG -- $48.81) operates as a health technology company worldwide. PHG is up slightly in 2020, clocking in up 6.3% year-to-date.
    • Philips will report its fiscal second-quarter earnings before the bell today.
  • Simmons First National Corporation (NASDAQ:SFNC -- $17.17) provides financial products and services to individuals and businesses.
    • Simmons will report its latest quarterly earnings before the bell today.
  • BancorpSouth Bank (NYSE:BXS -- $21.96) provides commercial banking and financial services to individuals and small-to-medium size businesses.
    • BancorpSouth will report its fiscal second-quarter earnings after the market closes today.
  • Cadence Design Systems, Inc. (NASDAQ:CDNS -- $115.69) provides software, hardware, services, and reusable integrated circuit (IC) design blocks worldwide.
    • Cadence will report its fiscal second-quarter earnings after the market closes today.
  • Crown Holdings, Inc. (NYSE:CCK -- $83.26) designs, manufactures, and sells packaging products and equipment for consumer goods and industrial products.
    • Crown will report its fiscal second-quarter earnings after the market closes today.
  • Equity Lifestyle Properties, Inc. (NYSE:ELS -- $83.26) is a self-administered, self-managed real estate investment trust.
    • Equity Lifestyle Properties will report its fiscal second-quarter earnings after the market closes today.
  • F.N.B. Corporation (NYSE:FNB -- $7.50) provides a range of financial services primarily to consumers, corporations, governments, and small- to medium-sized businesses.
    • F.N.B Corp. will report its fiscal second-quarter earnings after the market closes today.
  • Hexcel Corporation (NYSE: HXL -- $35.53) develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets.
    • Hexcel will report its fiscal second-quarter earnings after the market closes today.
  • International Business Machines Corporation (NYSE:IBM -- $125.93) operates as an integrated solutions and services company worldwide. After reporting positive second-quarter earnings, no fewer than 5 analysts hiked their price targets for IBM stock, boosting the stock right away. We reported on IBM's potential for an ugly October after reviewing the worst stocks to own on the S&P 500 over the past 10 years... and IBM neared the top of the list. 
    • IBM will report its fiscal second-quarter earnings after the market closes today.
  • Logitech International S.A. (NASDAQ:LOGI -- $79.83) designs, manufactures, and markets products that helps people connect to digital and cloud experiences.
    • Logitech will report its fiscal first-quarter earnings of 2021 after the market closes today.
  • PPG Industries, Inc. (NYSE:PPG -- $137.16) manufactures and distributes paints, coatings, and specialty materials worldwide.
    • PPG will report its fiscal second-quarter earnings after the market closes today. 
  • Steel Dynamics, Inc. (NASDAQ:STLD -- $33.39) operates as a steel producer and metal recycler in the United States.
    • Steel Dynamics will report its fiscal second-quarter earnings after the market closes today.
  • Zions Bancorporation, National Association (NASDAQ:ZION -- $31.14) provides various banking and related services.
    • Zions Bancorp will report its fiscal second-quarter earnings after the market closes today.


We have also rounded up how the earnings confessional played out for all those quarterly reports released on Friday, October 16:

  • Ally Financial, Inc. (NYSE:ALLY) 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 reported its fiscal second-quarter earnings before the bell on Friday.
    • Earnings per share increased 23.76% year-over-year to $1.25, which beat estimates of $0.68. Reported revenue of $1.68 billion is up by 4.93% from the same period last year, which beat estimates of $1.55 billion.

ALLY STOCK CHART

  • Badger Meter, Inc. (NYSE:BMI) manufactures and markets flow measurement, control, and communication solutions. Badger Meter reported its fiscal second-quarter earnings before the bell on Friday.
    • Earnings per share rose 15.91% over the past year to $0.51, which beat the estimate of $0.38. Reported revenue of $113.59 million is up by 4.55% year-over-year, and beat the street estimate of $100.45 million.

BMI STOCK CHART

  • The Bank of New York Mellon Corporation (NYSE:BK) provides a range of financial products and services in the United States and internationally. BNY Mellon reported its fiscal second-quarter earnings before the bell on Friday.

BK STOCK CHART

  • CIT Group, Inc. (NYSE: CIT) provides banking and related services to commercial and individual customers. CIT Group reported its fiscal second-quarter earnings before the bell on Friday.

CIT STOCK CHART

  • Citizens Financial Group, Inc. (NYSE:CFG) provides retail and commercial banking products and services in the United States. Citizens Financial reported its fiscal second-quarter earnings before the bell on Friday.
    • Earnings per share decreased 30.61% year-over-year to $0.68, which did not measure up to estimates of $0.74. Revenue of $1.79 billion rose by 9.34% year-over-year and beat estimates of $1.73 billion.

CFG STOCK CHART

  • J.B. Hunt Transport, Inc. (NASDAQ:JBHT) provides surface transportation and delivery services. JBHT stock shares soared to record highs after the company's last earnings beat. J.B. Hunt reported its fiscal second-quarter earnings before the bell on Friday.
    • Earnings per share were reported down 15.71% over the past year to $1.18, which missed the estimate of $1.27. Reported revenue of $2.47 billion is up by 4.61% from the same period last year, which beat the estimate of $2.c36 billion.

JBHT STOCK CHART

  • Kansas City Southern (NYSE:KSU) provides domestic and international rail transportation services in North America. Kansas City Southern reported its fiscal second-quarter earnings before the bell on Friday.

KSU STOCK CHART

  • Schlumberger Limited (NYSE:SLB) supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. Schlumberger reported its fiscal second-quarter earnings before the bell on Friday.

SLB STOCK CHART

  • State Street Corporation (NYSE:STT) provides a range of financial products and services to institutional investors worldwide. State Street reported its fiscal second-quarter earnings before the bell Friday.
    • Earnings per share fell 3.97% year-over-year to $1.45, which beat the estimate of $1.41. Revenue of $2.78 billion declined 4.10% year-over-year, but beat the estimate of $2.77 billion.

STT STOCK CHART

  • V.F. Corp (NYSE:VFC) engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products. VFC stock was upgraded earlier last quarter after reporting a growing demand as well as growth in web traffic. V.F. Corp reported its fiscal first-quarter earnings of 2021 before the bell on Friday.
    • Earnings per share decreased 46.83% year-over-year to $0.67, which beat the estimate of $0.49. Revenue of $2.61 billion decreased 23.14% as compared to the same period last year, but beat estimates of $2.5 billion.

VFC STOCK CHART


And that's it for today, folks. Investors will be looking at September's housing starts and building permits tomorrow PLUS another boatload of earnings will drop. Companies entering the earnings confessional tomorrow include Lockheed Martin (LMT), Netflix (NFLX), Procter & Gamble (PG), Snap (SNAP), and Texas Instruments (TXN). Remember, 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.

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