Today's Stock Market News & Events: 12/1/2020

Today's market-moving economic data and earnings schedule

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After an incredible month of gains in November, stocks fell as investors looked to cash in yesterday. Yesterday's market sentiment was also impacted by the Trump administration's threats to blacklist Chinese chipmaker SMIC, alongside CNOOC, an offshore oil and gas producer. The Dow rose over 11.8% for the month of November, logging its best since 1987. Similarly, the S&P 500 and the Nasdaq both logged wins for the month at 10.8% and 11.9%, respectively. The Dow Jones Industrial Average (DJI - 29,638.64) shed 271.7 points on the last day of the month yesterday. The S&P 500 Index (SPX - 3,621.63) fell 16.7 points yesterday while the Nasdaq Composite (IXIC - 12,198.74) lost 7.1 points during yesterday's trading session. The Cboe Volatility Index (VIX - 20.57) fell 0.3 point on Monday, and dropped 45.9% in the month of November.

Today will be packed to the brim, so buckle up. Markit manufacturing PMI, ISM Manufacturing Index, construction spending, and motor vehicle sales data are all set to be released on the first day of December. We are also set to see a handful of quarterly earnings reports from companies including Salesforce.com (CRM), NetApp (NTAP), and At Home Group (HOME).

For your convenience, we have rounded up the companies slated to release earnings today, December 1:

Bank of Montreal (NYSE:BMO -- $72.72)
provides diversified financial services primarily in North America. Bank of Montreal will report its fourth-quarter earnings before the bell today.

The Bank of Nova Scotia (NYSE:BNS -- $48.76) provides various banking products and services. Bank of Nova Scotia will report its fourth-quarter earnings before the bell today.

Momo, Inc. (NASDAQ:MOMO -- $14.38) operates a mobile-based social and entertainment platform in the People's Republic of China. MOMO has decreased by 15.4% year-to-date. Momo will report its third-quarter earnings before the bell today.

At Home Group, Inc. (NYSE:HOME -- $18.94) operates home decor superstores. At Home Group will report its third-quarter earnings of fiscal 2021 after the market closes today.

Hewlett Packard Enterprise Company (NYSE:HPE -- $11.04) provides solutions that allow customers to capture, analyze, and act upon data from edge to cloud. Hewlett Packard Enterprise will report its third-quarter earnings after the market closes today.

NetApp, Inc. (NASDAQ:NTAP -- $53.31) provides software, systems, and services to manage and share data on-premises, and private and public clouds. NetApp will report its second-quarter earnings of fiscal 2021 after the market closes today.

Salesforce.com, Inc. (NYSE:CRM -- $246.34) provides software, systems, and services to manage and share data on-premises, and private and public clouds. Salesforce will report its third-quarter earnings after the market closes today.

Trip.com Group Limited (NASDAQ:TCOM -- $33.59) operates as a travel service provider. Trip.com Group will report its third-quarter earnings after the market closes today.

Veeva Systems, Inc. (NYSE:VEEV -- $276.87) provides cloud-based software for the life sciences industry. Veeva Systems will report its third-quarter earnings after the market closes today.

Here is a quick recap of how yesterday’s earning calls played out:


Adient plc (NYSE:ADNT -- $31.98)
designs, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. Earnings per share were up 82.54% year over year to $1.15, which beat the estimate of $0.71. Revenue of $3,597,000,000 declined by 8.26% from the same period last year, which missed the estimate of $3,610,000,000.

Autohome, Inc. (NYSE:ATHM -- $7.40) operates as an online destination for automobile consumers in the People's Republic of China. Earnings per share were up 35.37% year over year to $1.11, which beat the estimate of $1.00. Revenue of $341,047,000 rose by 12.33% year over year, which missed the estimate of $344,420,000.

New Jersey Resources Corporation (NYSE:NJR -- $36.51) provides regulated gas distribution, and retail and wholesale energy services. Earnings per share rose 96.55% year over year to $0.57, which were in line with the estimate of $0.57. Revenue of $400,044,000 declined by 16.50% from the same period last year, which missed the estimate of $701,520,000.

Zoom Video Communications, Inc. (NASDAQ:ZM -- $471.61) provides a video-first communications platform. The company reported adjusted quarterly earnings of 99 cents per share, which beat the analyst consensus estimate of 76 cents by 30.26%. The company reported quarterly sales of $777.20 million, which beat the analyst consensus estimate of $693.95 million by 12.00%.

Now, looking ahead to tomorrow, it will be a slower day on Wednesday. Investors will still have the latest ADP employment report to look forward to. The Federal Reserve's "Beige book" is also on tap. 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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