This was the biggest earnings week of the quarter with over 1100 companies reporting earnings this week. Good earnings reports from some of the biggest companies like Amazon, Google (Alphabet), Apple and Microsoft were not enough to offset the response to a second wave of the coronavirus that has prompted shutdowns in Europe to much higher case loads than there were back in the spring.

All 3 major indexes were down for the week ended 2020-10-30. The Dow Jones Industrial average ended the week at 26,502 a decline of 6.5%. The broader S&P 500 index ended the week at 3,270 a decline of 5.6%. The Nasdaq 100 ended the week at 11,053 a decline of 5.5%. The average change for the major averages was down 5.86%.

This was a pretty tough week on the major indexes as indicated above. The Dow Jones Industrials are now down 1.2% for the year and the S&P 500 is barely up for the year at +1.2%. The Nasdaq is still the leader this year, but it took a big haircut this week and is now up 23.2% for the year.

Investment Style View

If you are a dividend investor, dividend stocks declined in the last week by 5.2%, with the iShares Dividend price declining from $87.59 to $83.00.

In the latest week, mid cap stocks outpaced both small cap and large cap stocks. Mid-cap stocks decreased by 5.6% for the week while large-cap stocks decreased by 5.6% and small-cap stocks decreased by 5.9%.

In order for us to monitor the performance difference between growth and value stocks, we look at the different capitalization levels (large, mid and small cap). In the latest week, there was a mixture in performance between growth and value stocks based on the capitalization of the underlying companies. Large-cap growth stocks outperformed large-cap value stocks this week -5.7% vs. -5.7%. Mid-cap growth stocks outperformed Mid-cap value stocks this week -6.4% vs. -6.5%. Small-cap growth stocks outperformed Small-cap value stocks this week -5.3% vs. -6.6%.

Sector View

There were no good performing sectors this past week, unless you count the Utilities sector, which lost 3.91% for the week. That was the best performing sector this week.

The worst performing sectors for the week were; the Industrials sector (-6.41%), Information Technology (-6.37%), Consumer Discretionary (-6.35%) and the Energy sector (-5.69%).



Earnings Roundup

As stated above, this was a huge earnings week with over 1100 companies reporting quarterly earnings. Some of the bigger companies were:

  • Apple Inc. (AAPL) announced earnings after the market close on 2020-10-29. Earnings came in at $0.73 the analyst consensus was $0.69, a difference of $0.04 per share. Revenue estimates were $63,389M but came in at $64,698M, a difference of $1,309M. Shares closed the prior day at $115.32 a share and closed the day at $108.86 a decline of -5.6%.
  • Amazon.com, Incorporated. (AMZN) announced earnings after the market close on 2020-10-29. Earnings came in at $12.37 the analyst consensus was $7.30, a difference of $5.07 per share. Revenue estimates were $92,918M but came in at $96,145M, a difference of $3,227M. Shares closed the prior day at $3,211.01 a share and closed the day at $3,036.15 a decline of -5.4%.
  • Alphabet Inc. (GOOG) announced earnings after the market close on 2020-10-29. Earnings came in at $16.40 the analyst consensus was $11.40, a difference of $5.00 per share. Revenue estimates were $35,356M but came in at $38,007M, a difference of $2,651M. Shares closed the prior day at $1,516.62 a share and closed the day at $1,567.24 an increase of 3.3%.
  • Microsoft Corporation. (MSFT) announced earnings after the market close on 2020-10-27. Earnings came in at $1.82 the analyst consensus was $1.53, a difference of $0.29 per share. Revenue estimates were $35,674M but came in at $37,154M, a difference of $1,480M. Shares closed the prior day at $213.25 a share and closed the day at $202.68 a decline of -5.0%.
  • Facebook, Inc. (FB) announced earnings after the market close on 2020-10-29. Earnings came in at $2.71 the analyst consensus was $1.94, a difference of $0.77 per share. Revenue estimates were $19,893M but came in at $21,470M, a difference of $1,577M. Shares closed the prior day at $280.83 a share and closed the day at $263.11 a decline of -6.3%.
  • Mastercard Incorporated. (MA) announced earnings after the market close on 2020-10-28. Earnings came in at $1.60 the analyst consensus was $1.65, a difference of $-0.05 per share. Revenue estimates were $3,940M but came in at $3,837M, a difference of $-103M. Shares closed the prior day at $317.11 a share and closed the day at $291.38 a decline of -8.1%.
  • Merck Co., Incorporated. (MRK) announced earnings after the market close on 2020-10-27. Earnings came in at $1.74 the analyst consensus was $1.44, a difference of $0.30 per share. Revenue estimates were $12,255M but came in at $12,551M, a difference of $296M. Shares closed the prior day at $78.84 a share and closed the day at $77.99 a decline of -1.1%.
  • Visa Inc. (V) announced earnings after the market close on 2020-10-28. Earnings came in at $1.12 the analyst consensus was $1.09, a difference of $0.03 per share. Revenue estimates were $5,025M but came in at $5,101M, a difference of $76M. Shares closed the prior day at $180.87 a share and closed the day at $184.87 an increase of 2.2%.


Dividend Payments

This will be returning soon, we have an issue with our data provider.


  • The Week Ahead

    Big Economic and other data {or big events} being reported this week are:

    • Monday: The Census Bureau reports on construction spending for September, economists are anticipating a 1% increase in spending.
    • Tuesday: ELECTION DAY and let the lawsuits begin
    • Wednesday: ADP releases its October National Employment Report with a forecast increase of 850,000 jobs in October.
    • Thursday: The Federal Open Market Committee announces its monetary policy decision with no change anticipated from the current 'near zero rate'.
    • Friday: The BLS releases its jobs report for October with a forecast of an additional 650,000 jobs and a decline in the unemployment rate to 6.7%.

    Earnings season kicks off this week with the following releases to watch:

    • Monday: Clorox, Estee Lauder, Mondolez International
    • Tuesday: Eaton, Emerson Electric, Humana
    • Wednesday: Expedia Group, MetLife, Qualcomm
    • Thursday: Alibaba Group, Barrick Gold, Duke Energy, T-Mobile
    • Friday: CVS Health, Marriott International, Toyota Motors

    Authors Note: Please note, the writer currently owns no individual stocks.

    About the Writer

    This page was created and is maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt is an executive, data scientist and software engineer who holds an MBA in Management Information Systems. In 2010, he partnered with scientists at Northwestern University to launch The Street Wire. This was one of the first mainstream uses of what would become “Narrative Science”, an artificial intelligence platform specializing in natural language generation. You can contact Kurt on LinkedIn here.