Today's Stock Market News & Events: 6/1/2021

Today's market-moving economic data and earnings schedule

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Looking ahead to a holiday-shortened week this week, investors will have no shortage of economic data and earnings to look forward to. The U.S. stock market was closed on Monday in observance of Memorial Day. Once markets reopen today, the deluge of data includes an update to the Federal Reserves latest Beige Book report, more initial and continuing jobless claims data, and an ADP employment report.

Additionally, few more earnings reports will trickle in as earnings season starts to wind down. Some highlights include quarterly reports from Broadcom (AVGO), Canopy Growth (CGC), Cloudera (CLDR), Lululemon Athletica (LULU), and Zoom Video (ZM). All economic dates listed here are tentative and subject to change.

When the markets reopen today for the holiday-shortened week, investors can look forward to the final Markit manufacturing purchasing managers' index (PMI), the ISM manufacturing index, and data on construction spending. on tap 

The following public companies are slated to release quarterly earnings reports today, June 1:

Bank of Nova Scotia (NYSE:BNS -- $67.30) provides various banking products and services. Bank of Nova Scotia will report its Q2 earnings of 2021 before the bell today.

Canopy Growth Corp. (NASDAQ:CGC -- $26.09) engages in the production, distribution, and sale of cannabis for recreational and medical purposes. Canopy Growth will report its Q4 earnings of 2021 before the bell today.

Ambarella Inc. (NASDAQ:AMBA -- $100.38) develops semiconductor solutions for video that enable high-definition (HD) and ultra HD compression, image processing, and deep neural network processing. Ambarella will report its Q1 earnings of 2022 after the market closes today.

Digital Turbine Inc. (NASDAQ:APPS -- $100.38) provides media and mobile communication products and solutions for mobile operators, application advertisers, device original equipment manufacturers, and other third parties. Digital Turbine will report its Q1 earnings of 2021 after the market closes today.

Hewlett Packard Enterprise Co. (NYSE:HPE -- $15.96) provides solutions that allow customers to capture, analyze, and act upon data seamlessly. Hewlett Packard Enterprise will report its Q2 earnings of 2021 after the market closes today.

Medallia Inc. (NYSE:MDLA -- $25.67) provides an enterprise Software-as-a-Service platform. Medallia will report its Q1 earnings of 2022 after the market closes today.

StoneCo Ltd. (NASDAQ:STNE -- $65.97) provides financial technology solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil. StoneCo will report its Q1 earnings of 2021 after the market closes today.

Zoom Video Communications Inc. (NASDAQ:ZM -- $331.53) provides a video-first communications platform. Zoom Video will report its Q1 earnings of 2021 after the market closes today.

The following companies reported quarterly earnings on Friday, May 28:

Big Lots Inc. (NYSE:BIG -- $64.54) operates as a retailer in the United States. Big Lots reported $2.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.93. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion.

Caleres Inc. (NYSE:CAL -- $27.28) engages in the retail and wholesale of footwear in the United States, China, Canada, China, and Guam. Caleres reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.57. The firm had revenue of $638.60 million for the quarter, compared to analysts' expectations of $573.10 million.

Hibbett Sports Inc. (NASDAQ:HIBB -- $87.32) engages in the retail of athletic-inspired fashion products. Hibbett Sports reported $5.00 EPS for the quarter, topping the consensus estimate of $2.37 by $2.63. The company had revenue of $506.80 million for the quarter, compared to analyst estimates of $389.65 million.

Looking ahead to tomorrow, the Federal Reserve's latest Beige Book report is due out on Wednesday as is data concerning motor vehicle sales. All economic dates listed here are tentative and subject to change.

 

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