On Friday stocks ended mixed with the Dow Jones Industrial Average falling 0.75%, to close at 35,601.98. The S&P 500 Index also dropped by 0.14%, closing at 4,697.96. Meanwhile the Nasdaq Composite Index gained 0.4%, closing at 16,057.44.
Earnings Due: 22 Nov – 26 Nov
- Hewlett Packard
Stocks To Watch: Dell
Wall Street expects Dell to earn $2.17 per share on revenue of $26.82 billion. This compares to the year-ago quarter when earnings came to $2.03 per share on revenue of $23.52 billion.
Dell has been on a steady rise ever since the company completed its spinoff of VMWare (VMW). The spinoff is part of its strategy to expand into edge computing, cloud services, artificial intelligence, and other high-growth markets. Dell has also did well during the pandemic with the PC market bringing in significant revenue.
Stocks To Watch: Hewlett Packard
Wall Street expects HP to earn 88 cents per share on revenue of $15.40 billion. This compares to the year-ago quarter when earnings came to 62 cents per share on revenue of $15.26 billion.
With the pandemic causing serious disruptions to work life, millions of people around the world have found themselves spending more time at home. As such, the need for better and faster computers have sent PC sales soaring and worldwide sales increased 5% in Q3 alone. This unexpected market growth benefited HP which has seen its stock rise 10% over the past month.