Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Salesforce, Zoom Video, Vehicle Sales: 3 Things to Watch

Stock MarketsNov 30, 2020 04:14PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Liz Moyer

Investing.com -- Despite dropping on Monday, the Dow Jones Industrial Average recorded the best monthly gain since 1987, driven higher by a surge in big brand companies such as Boeing Co (NYSE:BA), Chevron Corp (NYSE:CVX) and JPMorgan Chase & Co (NYSE:JPM).

Rising numbers of new Covid-19 infections, threatening a new set of business restrictions just as the holiday shopping season gets into gear, will weigh on markets. The bad news is countered by optimism that a vaccine is not far off.

Still, travel and leisure stocks aren’t likely to recover until life returns to more normal levels of activity. JetBlue Airways Corp (NASDAQ:JBLU), for example, fell on Monday after forecasting worse than expected revenue trends for the fourth quarter.

There have been some stocks that benefited from work-from-home trends, and two of them have earnings this week. Tuesday also offers data on car and truck sales, which have been gaining as people look to replace their public transportation options with more pandemic-friendly options.

Here are three things that could affect markets tomorrow:

1. Salesforce reports earnings and a deal

Salesforce.com Inc (NYSE:CRM) reports earnings after the closing bell on Tuesday, the same day it is expected to unveil a deal to buy the office messaging app Slack Technologies Inc (NYSE:WORK). Shares of Slack surged in advance of the news, ballooning its market value to more than $20 billion.

Salesforce is expected to report earnings per share of 74 cents on revenue of $5.25 billion.

2. Zoom Video beats expectations, and stock could soar on Tuesday

Zoom Video Communications Inc (NASDAQ:ZM), which reports after Monday’s closing bell, is widely seen as a beneficiary of pandemic-related stay at home orders that forced students and workers to communicate over video rather than congregate in person. Last week’s Thanksgiving holiday in the United States also featured a new facet of daily life in American households: the family Zoom call. This may well change once a vaccine is delivered to the vast majority of the population, but that’s a few months off.

Profit of 99 cents a share beat the expectations of analysts tracked by Investing.com, who forecast 76 cents on revenue of $693.4 million.

3. Vehicle sales show rush to pandemic-friendly travel options

People flocked to used car dealers this year to buy a vehicle that will keep them off public transportation, even though people aren’t driving as much to offices and schools, at least not now. This has been good for shares of online dealers such as CarMax Inc (NYSE:KMX) and Carvana Co (NYSE:CVNA). 

Late on Tuesday, data on auto and truck sales are released. The numbers are reported along with total vehicle sales at 3:00 PM ET (1900 GMT). There were 16.2 million vehicles sold in October, up from 15.7 million in September and continuing this year’s trend higher.

 

Salesforce, Zoom Video, Vehicle Sales: 3 Things to Watch
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Steven Collar
Steven Collar Nov 30, 2020 11:02PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Well written good report.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email