Week Ahead Brings Earnings Season, Amazon Prime Day, Apple Event

Key Takeaways:

  • Broken record time as stimulus hopes continue to provide early market support
  • Earnings season gets underway tomorrow with big banks beginning to report
  • Big week for FAANGs as Amazon
    AMZN
    Prime Day, Apple
    AAPL
    event coming up

If Wall Street had a seat belt sign, now’s when the captain would tell us to buckle up for possible turbulence ahead.

Even if earnings season didn’t begin tomorrow, there’s plenty to keep investors on their toes. Amazon’s (AMZN) Prime Day, Apple’s (AAPL) long-awaited product event, continued stimulus negotiations in Washington, and mounting virus cases in the U.S. and Europe all get mixed into the recipe.

Ordinarily, those ingredients would be enough for anyone, but this time it’s happening while investors and the entire world have one eye on polls three weeks ahead of the U.S. presidential election. Despite all this, volatility is the lowest since late

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The Atlantic hurricane season isn’t over yet

But it’s 2020, and the Atlantic may have other ideas. A weather pattern that encourages air masses to rise, leading to increased showers and thunderstorms, looks likely to overspread the Gulf of Mexico and Caribbean by late in the month into early November. This pattern change could once again raise the odds of tropical development, provided other air and ocean ingredients are present as well.

In a typical storm season, the Atlantic averages one named storm after Oct. 19, which would suggest that even in an average year we wouldn’t be quite done yet. However, this season is anything but typical, considering we are pacing more than a month ahead of the busiest season on record, which occurred in 2005, and have dipped into the Greek alphabet for only the second time.

It’s plausible that the Atlantic basin may cap off its hyperactive season with a robust final act.

Near-term

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JPMorgan Set to Kick Off Third-Quarter Earnings Season

Third-quarter earnings season gets underway in the week ahead with results from big banks and healthcare companies among the heavy hitters on tap.

Here’s a look at some of the more notable results expected beginning on Tuesday.

JPMorgan

JPMorgan Chase & Co.  (JPM) – Get Report is expected to report adjusted net income of $6.9 billion, or $2.23 a share, on sales of $28.2 billion before the market opens on Tuesday, based on a FactSet survey of 23 analysts.

In the same period a year ago, the company posted earnings of $2.68 a share on sales of $30.1 billion. It reported net income of $9.6 billion.

The stock has risen 3.6% since the company last reported earnings on July 14.

In the upcoming quarter, analysts are forecasting adjusted net income of $6.1 billion, or $1.91 a share, on sales of $26.8 billion.

For the year, analysts project revenue

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Virginia Tech helpless to stop North Carolina in first loss of the 2020 season |

Virginia Tech vs. UNC Chapel Hill, N.C.

HOW THEY SCORED

Virginia Tech 0 14 23 8 — 45

North Carolina 21 14 7 14 — 56

First Quarter

NC—Williams 1 run (Atkins kick), 10:22.

NC—D.Brown 37 pass from Howell (Atkins kick), 7:52.

NC—Williams 19 run (Atkins kick), 4:09.

Second Quarter

VT—Mitchell 1 run (B.Johnson kick), 14:13.

VT—Herbert 8 run (B.Johnson kick), 6:28.

NC—Newsome 6 run (Atkins kick), 4:17.

NC—D.Brown 43 pass from Howell (Atkins kick), :16.

Third Quarter

VT—FG B.Johnson 55, 9:55.

NC—Carter 16 run (Atkins kick), 7:14.

VT—Hooker 5 run (B.Johnson kick), 5:58.

VT—Herbert 52 run (B.Johnson kick), 5:04.

VT—T.Robinson 33 pass from Hooker (run failed), :15.

Fourth Quarter

NC—Newsome 12 pass from Howell (Atkins kick), 12:37.

NC—Carter 62 run (Atkins kick), 8:49.

VT—Mitchell 26 pass from Hooker (Hooker run), 5:20.

A—3,535.

———

TEAM STATISTICS

VT NC

First downs 25 31

Rushes-yards 48-260 43-399

Passing 235 257

Comp-Att-Int 15-29-0

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Virginia Tech helpless to stop North Carolina in first loss of the 2020 season | Virginia Tech

Running back Khalil Herbert made his presence felt in the quarter as well with a 52-yard touchdown run. Herbert converted the third and eight by weaving his way through the secondary to go over 100-yards for the third straight game.

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The Hokies held onto the ball for nearly 11 minutes in the third quarter, but still couldn’t overcome the 21 points they spotted UNC in the first quarter. 

North Carolina went straight down the field on their first three possessions to take a 21-0 lead while averaging 9.7 yards per play.

Howell was near perfect in the quarter going 10 of 12 for 123 yards with a 37-yard touchdown pass to Brown. Brown, who beat Tech cornerback Armani Chatman down the field, was able to get one foot down at the back of the end zone for the score.

Williams

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All Fortnite Season 4 Challenges: Tony Stark’s Hidden Lab, Doom’s Domain Vault, And More

Season 4 of Fortnite: Chapter 2 is rolling along across consoles and PC. This season has introduced a ton of changes to Epic’s hit battle royale shooter, bringing the likes of Thor, Iron Man, Groot, She-Hulk, Storm, and other Marvel superheroes into the game to thwart an invasion by Galactus.

Of course, a new season also means new challenges, and there are already a ton for players to complete. Clearing these tasks will level up your Season 4 battle pass, which in turn will unlock exclusive Marvel-themed cosmetics. In addition to the standard weekly missions, Epic is rolling out a separate set of Wolverine challenges over the course of the season, which you’ll need to complete to unlock the Wolverine skin. There are also Awakening challenges that will unlock emotes and other cosmetic flourishes for Season 4’s other Marvel skins.

Although Season 4 is underway on most platforms, you cannot

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Amazon India’s payments unit gets $95.5 million from parent ahead of festive season

FILE PHOTO: The logo of Amazon is pictured inside the company’s office in Bengaluru, India, April 20, 2018. REUTERS/Abhishek N. Chinnappa

BENGALURU (Reuters) – Amazon.com Inc AMZN.O has invested 7 billion rupees ($95.51 million) in its Indian payments unit, ahead of the festive season, data from business intelligence firm Tofler showed.

Amazon will begin its festive season sales on Oct. 17, and has been trying to encourage payments through Amazon Pay with cashbacks and other rewards.

Both Amazon and Flipkart offer deep discounts on everything from clothes, smartphones to home appliances ahead of key Hindu festivals Dussehra and Diwali.

In July, Jeff Bezos-led Amazon.com had invested 23.10 billion rupees in Amazon Seller Services and early this year announced a $1 billion investment to bring more than 10 million small businesses online in India by 2025.

Amazon, billionaire Mukesh Ambani-led Reliance Industries RELI.NS and Walmart Inc’s WMT.N Flipkart are in a

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The 2020 Hurricane Season Sounds More Like Fraternity Row

Only one other year on record (2005) had to transition to the Greek letters for naming storms. The hyperactive 2020 hurricane season is well into the Greek letter alphabet with about two months of potential activity ahead. The National Hurricane Center is watching several tropical systems, including one that could impact the Gulf Coast next week. Here’s why the hurricane season is starting to sound like fraternity or sorority row on a college campus.

Currently, Tropical Storm Gamma (the third letter in the Greek alphabet) is being monitored. According to the National Hurricane Center, Gamma is just offshore of the northern Yucatan Peninsula in the southern Gulf of Mexico and is expected to weaken in the coming days. The Sunday morning forecast discussion from NOAA notes, “Now that Gamma

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Qatar Foundation’s Stars Of Science Selects Season 12’s Top Eight Innovators

DOHA, Qatar, Oct. 4, 2020 /PRNewswire/ — Eight innovators have distinguished themselves during the auditions for Qatar Foundation’s Stars of Science moving on to compete to become this season’s Top Arab Innovator.

To view the Multimedia News Release, please click: https://www.multivu.com/players/uk/8787151-stars-of-science-top-eight-innovators/

“Selecting this crop of contestants was not easy, as they had to prove that both their ideas and their pitching skills stood apart from the best that Arab youth has to offer,” said Professor Abdelhamid El-Zoheiry, Stars of Science jury member. “This season’s contestants come from a wide variety of disciplines, showcasing an incredibly diverse pool of ideas.”

Mohammad Almogahwi, a Kuwaiti periodontist, joined with his Automated Hands-Free Toothbrush, which includes a U-shaped mouthpiece designed for effective teeth brushing, especially for people with special needs. Sarah Aboerjaib, a fellow Kuwaiti engineer, earned her place with the Fractured Bone Optical Scanner; a handheld device that uses near-infrared rays

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Cyber Pirates Hit Global Shipping Industry Nearing Peak Season

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a crane next to a tall building: The MOL Experience container vessel is loaded as it sits at the HHLA Container Terminal Altenwerder (CTA) in the port of Hamburg in Hamburg, Germany.


© Bloomberg
The MOL Experience container vessel is loaded as it sits at the HHLA Container Terminal Altenwerder (CTA) in the port of Hamburg in Hamburg, Germany.

Two key players in the global shipping industry are trying to restore computer networks and assess the damage from separate cyber attacks this week that are adding short-term complications to supply chains already straining ahead of peak season for consumer demand.

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The International Maritime Organization, a UN agency that serves as the industry’s regulator, said Thursday it suffered “a sophisticated cyber attack against the organization’s IT systems.” The breach affected its public website and internal systems, it said. The IMO’s web page remained down Friday morning in London.

@UN

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