Sept. 25, 2020, 9:38 a.m. EDT

Closing a Light Earnings Week

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Adobe Inc. (ADBE)
  • X
    FedEx Corp. (FDX)
  • X
    Nike Inc. Cl B (NKE)

or Cancel Already have a watchlist? Log In

Sep 25, 2020 (IAM Newswire via COMTEX) -- Recent earnings reports imply that the positive momentum that made its appearance early July is still in the air. Last week, Adobe /zigman2/quotes/200389143/composite ADBE -0.14% and FedEx /zigman2/quotes/203047719/composite FDX +1.70% treated us with blockbuster results that confirmed the favorable trends, contributing to overall recovery of the U.S. economy.

This week, it was up to Nike’s /zigman2/quotes/203439053/composite NKE +0.53% deliver a blockbuster earnings report. Its shares surged and lifted the Dow Jones industrial average as the sports retailer smashed both revenue and profit expectations.

US stocks rose on Wednesday on strong earnings and progress on the upcoming COVID-19 vaccine as Johnson & Johnson /zigman2/quotes/201724570/composite JNJ -0.98% announced it is starting the third phase of its candidate in a largest study to date that will enroll up to 60,000 participants.

On the other hand, this week was not so kind to Tesla /zigman2/quotes/203558040/composite TSLA -0.08% whose shares dropped after its Battery Day event on Tuesday failed to delight investors. Musk laid out a plan to get to a $25,000 EV it expects to begin selling in three years but without showing any tangible progress.

Gold fell but oil prices climbed. Oil’s international benchmark jumped 1%, to $42.15 per barrel as BP /zigman2/quotes/207305210/composite BP +0.43% , Royal Dutch Shell and other European energy companies are restructuring their core business to dramatically reduce emissions while investing heavily in renewable energy. Meanwhile, the American oil giants Chevron /zigman2/quotes/205871374/composite CVX -0.50% and Exxon Mobil Corporation /zigman2/quotes/204455864/composite XOM +0.07% are going in a far different direction.

Although it's premature, the early reports suggest there is hope for Q3 and improved outlook in a variety of sectors. As for the third quarter of 2020, total S&P 500 earnings are expected to decline 23.1% on 2.9% drop in revenues, which is an improvement from Q2 expectations and figures.

Next week, Thor Industries Inc /zigman2/quotes/202832948/composite THO +0.48% , Conagra /zigman2/quotes/200394144/composite CAG +0.20% , Constellation Brands /zigman2/quotes/207737284/composite STZ +0.62% Bed Bath and Beyond /zigman2/quotes/209801102/composite BBBY +1.51% will give their own contribution to solving the outlook puzzle.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com

The post Closing a Light Earnings Week appeared first on IAM Newswire .

COMTEX_371859035/2618/2020-09-25T09:38:14

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/200389143/composite
US : U.S.: Nasdaq
$ 502.14
-0.68 -0.14%
Volume: 556,881
Oct. 19, 2020 11:49a
P/E Ratio
63.39
Dividend Yield
N/A
Market Cap
$241.21 billion
Rev. per Employee
$445,024
loading...
/zigman2/quotes/203047719/composite
US : U.S.: NYSE
$ 288.70
+4.83 +1.70%
Volume: 1.22M
Oct. 19, 2020 11:50a
P/E Ratio
19.07
Dividend Yield
0.90%
Market Cap
$74.54 billion
Rev. per Employee
$304,846
loading...
/zigman2/quotes/203439053/composite
US : U.S.: NYSE
$ 128.68
+0.68 +0.53%
Volume: 1.03M
Oct. 19, 2020 11:50a
P/E Ratio
76.94
Dividend Yield
0.76%
Market Cap
$200.94 billion
Rev. per Employee
$529,466
loading...
/zigman2/quotes/201724570/composite
US : U.S.: NYSE
$ 146.66
-1.44 -0.98%
Volume: 1.55M
Oct. 19, 2020 11:50a
P/E Ratio
23.07
Dividend Yield
2.75%
Market Cap
$389.92 billion
Rev. per Employee
$603,509
loading...
/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 439.30
-0.37 -0.08%
Volume: 16.42M
Oct. 19, 2020 11:50a
P/E Ratio
1,146
Dividend Yield
N/A
Market Cap
$410.45 billion
Rev. per Employee
$439,627
loading...
/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 16.32
+0.07 +0.43%
Volume: 7.98M
Oct. 19, 2020 11:50a
P/E Ratio
N/A
Dividend Yield
13.29%
Market Cap
$54.43 billion
Rev. per Employee
$4.03M
loading...
/zigman2/quotes/205871374/composite
US : U.S.: NYSE
$ 72.53
-0.36 -0.50%
Volume: 2.50M
Oct. 19, 2020 11:50a
P/E Ratio
N/A
Dividend Yield
7.11%
Market Cap
$140.32 billion
Rev. per Employee
$3.27M
loading...
/zigman2/quotes/204455864/composite
US : U.S.: NYSE
$ 34.13
+0.03 +0.07%
Volume: 7.76M
Oct. 19, 2020 11:50a
P/E Ratio
20.32
Dividend Yield
10.20%
Market Cap
$144.18 billion
Rev. per Employee
$3.93M
loading...
/zigman2/quotes/202832948/composite
US : U.S.: NYSE
$ 95.69
+0.46 +0.48%
Volume: 161,130
Oct. 19, 2020 11:50a
P/E Ratio
23.81
Dividend Yield
1.71%
Market Cap
$5.26 billion
Rev. per Employee
$409,842
loading...
/zigman2/quotes/200394144/composite
US : U.S.: NYSE
$ 37.99
+0.08 +0.20%
Volume: 715,475
Oct. 19, 2020 11:50a
P/E Ratio
18.62
Dividend Yield
2.90%
Market Cap
$18.52 billion
Rev. per Employee
$717,048
loading...
/zigman2/quotes/207737284/composite
US : U.S.: NYSE
$ 182.61
+1.13 +0.62%
Volume: 171,036
Oct. 19, 2020 11:50a
P/E Ratio
36.85
Dividend Yield
1.64%
Market Cap
$35.12 billion
Rev. per Employee
$842,260
loading...
/zigman2/quotes/209801102/composite
US : U.S.: Nasdaq
$ 25.21
+0.38 +1.51%
Volume: 3.91M
Oct. 19, 2020 11:50a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$3.13 billion
Rev. per Employee
$191,341
loading...

This Story has 0 Comments
Be the first to comment

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.