A busy schedule for investors leading up to a long holiday weekend
The holiday-shortened week kicked off with a volatile start, as investors processed a new strain of COVID-19 in the U.K. alongside the long-awaited agreement for a $900 billion stimulus package in the U.S. Meanwhile, Moderna (MRNA) began shipping vaccine doses across the United States and Congress voted on a relief bill that could send $600 direct payments to Americans as soon as next week.
The Dow Jones Industrial Average (DJI - 30,216.45) added 37.4 points on Monday. The S&P 500 Index (SPX - 3,694.92) fell 14.5 points on Monday and the Nasdaq Composite (IXIC -12,742.52) fell 13.1 points during Monday's trading session. The Cboe Volatility Index (VIX), snapped a four-day losing streak, adding 3.6 points yesterday, and logged its highest close since November 12.
Today, investors will be unpacking a gross domestic product (GDP) revision, the latest consumer confidence index, and existing home sales data. We will see earnings from Cintas (CTAS) stock, CarMax (KMX) stock, and Neogen (NEOG) stock today, too.
For your convenience, we have rounded up the companies slated to release earnings today, December 22:
CarMax, Inc. (NYSE:KMX -- $100.46) operates as a retailer of used vehicles in the United States. CarMax will report its third-quarter earnings before the bell today.
Cintas Corporation (NASDAQ:CTAS -- $346.13) provides corporate identity uniforms and related business services. Cintas will report its second-quarter earnings of 2021 before the bell today.
Neogen, Inc. (NASDAQ:NEO -- $54.05) operates a network of cancer-focused testing laboratories. Neogen will report its third-quarter earnings before the bell today.
Here is a quick recap of how yesterday's earnings calls played out:
FactSet Research Systems, Inc. (NYSE:FDS -- $347.03) provides integrated financial information and analytical applications. Earnings per share rose 11.63% over the past year to $2.88, which beat the estimate of $2.75. Revenue of $388,206,000 higher by 5.88% from the same period last year, which beat the estimate of $387,360,000.
Calavo Growers, Inc. (NASDAQ:CVGW -- $72.08) markets and distributes avocados, prepared avocados, and other perishable foods. Earnings per share were down 24.44% year over year to $0.34, which missed the estimate of $0.64. Revenue of $234,430,000 declined by 19.76% year over year, which missed the estimate of $256,070,000.
HEICO Corporation (NYSE:HEI -- $133.09) designs, manufactures, and sells aerospace, defense, and electronic related products and services. Earnings per share decreased 27.42% over the past year to $0.45, which beat the estimate of $0.41. Revenue of $426,178,000 declined by 21.30% from the same period last year, which beat the estimate of $414,780,000.
Looking ahead to tomorrow, the pace picks up with core durable goods, personal income and core inflation data due out. Plus, new home sales data and the consumer sentiment index will be released.
The U.S. stock market has a shortened schedule this week, with only three and a half trading days. On Thursday, December 24, the stock market hours will be 9:30 a.m. through 1:00 p.m. ET in observance of Christmas Eve. On Friday, December 25, the stock market will be closed in observance of Christmas.