Today's Stock Market News & Events: 12/11/2020

Today's market-moving economic data and earnings schedule

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    Stocks finished the day on Thursday mostly lower, after jobless claims came in higher than Wall Street's estimates. Congress continues to debate the specifics of a COVID-19 relief package. Investors were still waiting for the outcome of the Food and Drug Administration (FDA) meeting regarding Pfizer's (PFE) coronavirus vaccine, which ended up being approved after-hours. The Dow Jones Industrial Average (DJI - 29,999.26) fell 69.6 points on Thursday. The S&P 500 Index (SPX - 3,668.10) dropped 4.7 points and the Nasdaq Composite (IXIC - 12,405.81) was up 66.9 points on Thursday. The Cboe Volatility Index (VIX - 22.48) added 0.2 point yesterday.

    The earnings reports today will be almost non-existent, but investors will have producer price index (PPI) and consumer sentiment data to unpack to close out this trading week.

    For your convenience, we have rounded up the only company slated to release earnings today, December 11:

    Construction Partners, Inc. (NASDAQ:ROAD -- $483.7429.11) provides construction products and services to public and private infrastructure projects. Construction Partners will report its fourth-quarter earnings before the bell today.

    Here is a quick recap of how Thursday's earning calls played out:

    Adobe, Inc. (NASDAQ:ADBE -- $483.74) operates as a diversified software company worldwide. Earnings per share were up 22.71% over the past year to $2.81, which beat the estimate of $2.66. Revenue of $3,424,000,000 up by 14.44% from the same period last year, which beat the estimate of $3,360,000,000.

    Ciena Corporation (NYSE:CIEN -- $47.18) provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks. Earnings per share increased 3.45% year over year to $0.60, which missed the estimate of $0.63. Revenue of $828,480,000 declined by 14.41% from the same period last year, which beat the estimate of $825,360,000.

    Broadcom, Inc. (NASDAQ:AVGO -- $416.22) designs, develops, and supplies a range of semiconductor devices. Earnings per share rose 17.81% year over year to $6.35, which beat the estimate of $6.25. Revenue of $6,467,000,000 higher by 12.16% year over year, which beat the estimate of $6,430,000,000.

    Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY -- $25.63) owns and operates entertainment and dinng venues for adults and families. Earnings per share were down 5050.00% year over year to ($0.99), which beat the estimate of ($1.11). Revenue of $109,052,000 declined by 63.57% year over year, which missed the estimate of $109,360,000.

    Oracle Corporation (NYSE:ORCL -- $59.73) provides products and services that address enterprise information technology environments. Earnings per share increased 17.78% over the past year to $1.06, which beat the estimate of $1.00. Revenue of $9,800,000,000 up by 1.92% year over year, which beat the estimate of $9,790,000,000.

    Looking ahead to next week, market activity is slated to ramp up ahead of the end of the year, with a number of economic indicators for investors to analyze as they hit December's halfway point. A two-day Federal Reserve meeting is scheduled for Wednesday and Tuesday. Investors can also expect production and capacity utilization data, as well as import price and manufacturing indexes to be released. Retail sales, housing starts and inventories data, are also on the schedule, as well as the weekly jobless claims update. 

    As for earnings, a bunch of major companies will step up to the earnings plate on Thursday, such as Lennar (LEN), Carnival (CCL), Navistar (NAV) and General Mills (GIS). FedEx (FDX) and Nike (NKE) will also report earnings. All economic dates listed here are tentative and subject to change.


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