Today will be a lighter day in economic reports, but the list of companies reporting earnings is solid
December kicked off with a strong start with all of the major market indexes finished higher and notching record closes yesterday. Investor sentiment got a boost early in the day yesterday after lawmakers proposed a $908 billion stimulus plan, including $200 billion for Paycheck Protection Program small business loans. Then the news broke that Senate Majority Leader Mitch McConnell rejected the bipartisan package, continuing the stalemate. The Dow Jones Industrial Average (DJI - 29,823.92) gained 185.3 points on the day yesterday. The S&P 500 Index (SPX - 3,662.45) gained 80.2 points and the Nasdaq Composite (IXIC - 12,355.11) was up156.4 points on Tuesday. The Cboe Volatility Index (VIX - 20.77) fell 0.2 point during yesterday's trading session.
Today will be a slower day than the first of the month. Investors will still have the latest ADP employment report to look forward to. The Federal Reserve's "Beige book" is also on tap. There are also a good handful of companies releasing their quarterly earnings reports today including Five Below (FIVE), Splunk (SPLK), Zscaler (ZS), and CrowdStrike (CRWD).
For your convenience, we have rounded up the companies slated to release earnings today, December 2:
Patterson Companies, Inc. (NASDAQ:PDCO -- $27.70) distributes and sells dental and animal health products. Patterson Companies will report its second-quarter earnings of fiscal 2021 before the bell today.
Royal Bank of Canada (NYSE:RY -- $82.66) operates as a diversified financial service company worldwide. Royal Bank of Canada will report its fourth-quarter earnings before the bell today.
CrowdStrike Holdings, Inc. (NASDAQ:CRWD -- $147.50) provides cloud-delivered solutions for next-generation endpoint protection. CrowdStrike will report its third-quarter earnings after the market closes today.
The Descartes Systems Group, Inc. (NASDAQ:DSGX -- $58.48) provides cloud, device, and data content-based solutions. Descartes will report its third-quarter earnings after the market closes today.
Elastic N.V. (NYSE:ESTC -- $120.80) delivers technology that enables users to search through structured and unstructured data. Elastic will report its second-quarter earnings of fiscal 2021 after the market closes today.
Five Below, Inc. (NASDAQ:FIVE -- $162.12) operates as a specialty value retailer in the United States. Five Below will report its third-quarter earnings after the market closes today.
Guess', Inc. (NYSE:GES -- $16.32) designs, markets, distributes, and licenses lifestyle collections of apparel and accessories. Guess’ will report its third-quarter earnings after the market closes today.
Okta, Inc. (NASDAQ:OKTA -- $236.99) provides identity management platforms. Okta will report its third-quarter earnings after the market closes today.
PVH Corp. (NYSE:PVH -- $81.80) operates as an apparel company. PVH will report its third-quarter earnings after the market closes today.
Semtech Corporation (NASDAQ:SMTC -- $67.94) designs, develops, manufactures, and markets analog and mixed-signal semiconductor products and advanced algorithms. Semtech will report its third-quarter earnings after the market closes today.
Snowflake, Inc. (NYSE:SNOW -- $305.64) provides cloud-based data platform. Snowflake will report its third-quarter earnings of fiscal 2021 after the market closes today.
Splunk, Inc. (NASDAQ:SPLK -- $206.43) develops and markets software solutions that enable organizations to gain real-time operational intelligence. Splunk will report its third-quarter earnings after the market closes today.
Sportsman's Warehouse Holdings, Inc. (NASDAQ:SPWH -- $14.31) operates as an outdoor sporting goods retailer. Sportsman's Warehouse will report its third-quarter earnings after the market closes today.
Zscaler, Inc. (NASDAQ:ZS -- $151.68) operates as a cloud security company worldwide. Zscaler will report its first-quarter earnings of fiscal 2021 after the market closes today.
Here is a quick recap of how yesterday’s earning calls played out:
Bank of Montreal (NYSE:BMO -- $72.72) provides diversified financial services primarily in North America. Earnings per share decreased 1.62% year over year to $1.82, which beat the estimate of $1.67. Revenue of $4,529,000,000 decreased by 2.10% from the same period last year, which beat the estimate of $4,210,000,000.
The Bank of Nova Scotia (NYSE:BNS -- $48.76) provides various banking products and services. Earnings per share decreased 20.29% year over year to $1.10, which missed the estimate of $1.32. Revenue of $5,674,000,000 decreased by 5.81% from the same period last year, which beat the estimate of $5,460,000,000.
Momo, Inc. (NASDAQ:MOMO -- $14.38) operates a mobile-based social and entertainment platform in the People's Republic of China. Earnings per share fell 36.23% over the past year to $0.44, which beat the estimate of $0.38. Revenue of $554,768,000 declined by 10.92% year over year, which missed the estimate of $563,280,000.
Hewlett Packard Enterprise Company (NYSE:HPE -- $11.04) provides solutions that allow customers to capture, analyze, and act upon data from edge to cloud. Earnings per share fell 24.49% over the past year to $0.37, which beat the estimate of $0.34. Revenue of $7,208,000,000 declined by 0.10% from the same period last year, which beat the estimate of $6,880,000,000.
NetApp, Inc. (NASDAQ:NTAP -- $53.31) provides software, systems, and services to manage and share data on-premises, and private and public clouds. Earnings per share fell 3.67% over the past year to $1.05, which beat the estimate of $0.73. Revenue of $1,416,000,000 up by 3.28% from the same period last year, which beat the estimate of $1,310,000,000.
Veeva Systems, Inc. (NYSE:VEEV -- $276.87) provides cloud-based software for the life sciences industry. Earnings per share were up 30.00% over the past year to $0.78, which beat the estimate of $0.68. Revenue of $377,519,000 rose by 34.39% year over year, which beat the estimate of $361,820,000.
Now, looking ahead to tomorrow, things are set to pick back up with a slew of employment data set to be released. Meanwhile, Markit Services PMI and ISM services index information is due to be released. Plus, a ton of companies will be stepping up to the earnings confessional including DocuSign (DOCU), Marvell (MRVL), Ulta Beauty (ULTA), and Kroger (KR).