During Market hours yesterday — Wednesday (28.10.2020):

Stocks fell sharply on Wednesday as investors worried that the latest increase in coronavirus infections could halt the global economic recovery.

  • The Dow (Symbol: DIA) closed 3.43% lower. The S&P 500 (Symbol: SPY)  sank 3.5% and the Nasdaq (Symbol: QQQ) went down 3.7%.
  • General Electric (Symbol: GE) Shares of the industrial company jumped 4.5% after GE reported a surprise adjusted profit for the third quarter and higher revenues than expected. The company reported 6 cents in adjusted earnings per share and $19.42 billion in revenue. Analysts surveyed by Refinitiv had projected a loss of 4 cents per share and $18.73 billion in revenue.
  • Bed Bath & Beyond (Symbol: BBBY) Shares of the retailer sank 12% after the company announced new financial targets for the years ahead. Bed Bath & Beyond said it expects same-store sales to be “stable” in 2021 before growing in the low-to-mid single digits by 2023. The company reported same-store sales growth of 6% during the most recent quarter.
  • UPS (Symbol: UPS) Shares of the shipping company fell nearly 9% after UPS failed to provide future earnings guidance. Despite the disappointing silence on outlook, UPS topped analysts estimates for its quarterly report. UPS earned $2.28 per share on revenue of $21.24 billion. Analysts expected earnings of $1.90 on revenue of $20.19 billion, according to Refinitiv.
  • First Solar (Symbol: FSLR) Shares of the solar panel maker jumped more than 13% after the company’s third quarter results handily beat analyst expectations. First Solar earned $1.45 per share during the quarter, which was more than double the expected 63-cent profit per share, according to estimates from FactSet. Revenue jumped 70% year over year to $928 million.
  • Mastercard  (Symbol: MA) Mastercard shares dropped more than 8% after the credit card giant posted disappointing third-quarter results. The company reported earnings per share of $1.60 per share on revenue of $3.84 billion. Analysts polled by Refinitiv expected a profit of $1.66 per share on revenue of $3.96 billion. Mastercard also warned the slowdown in travel due to the pandemic could put further pressure on its finances.
  • CoreLogic (Symbol: CLGX) Shares of the real estate fintech company popped more than 11% on news of a potential takeover bid. CoreLogic said it is “engaging with third parties indicating preliminary interest based on public information in the potential acquisition of the Company at a value at or above $80 per share.” CNBC’s David Faber had reported the news prior to CoreLogic’s announcement.
  • Tupperware (Symbol: TUP) Shares of Tupperware soared more than 35% after the maker of home storage products posted a big earnings and revenue beat. Tupperware earned an adjusted $1.20 per share for its latest quarter, well above the Refinitiv consensus estimate of 37 cents. Its revenue was well above forecasts amid a boost from more consumers cooking and storing food at home.
  • Automatic Data Processing (Symbol: ADP) Shares of Automatic Data Processing jumped more than 6% after the software company reported stronger-than-expected quarterly earnings. ADP posted an EPS of $1.41 for its fiscal first quarter, above an estimate of 99 cents per FactSet. The company’s revenue also topped expectations.
  • Microsoft (Symbol: MSFT) Shares of the tech giant slid nearly 5% after the company beat top and bottom line results in the fiscal first quarter, but weak revenue guidance weighed on the stock. Microsoft earned an adjusted $1.82 per share during the quarter on $37.15 billion in revenue, both of which were ahead of the $1.54 profit per share and $35.72 billion in revenue analysts surveyed by Refinitiv had been expecting.

During Premarket hours today – Thursday (29.10.2020):

U.S. weekly jobless claims total 751,000, vs 778,000 expected

  • Spotify (Symbol: SPOT) – The streaming music service reported a slightly wider-than-expected loss for its latest quarter, with revenue roughly in line with estimates. It also saw premium subscriber numbers rise by a better than expected 27%

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