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Market indexes were mostly flat on this trading day, with only the Dow staying in the red as of the closing bell. The small-cap Russell 2000 outperformed the group for almost the entire session, and has been since bouncing off its late Tuesday lows, +0.76% today. The Dow was -0.07%, the S&P 500 +0.11% and the Nasdaq +0.22% today.
We appear to still be wallowing in some of that good feeling regarding next week’s interest rate cut, which will bring us down to between 3.50-3.75% for the first time since September 2022. This morning’s much-better-than-expected Weekly Jobless Claims did not instill a pause among investors that the ongoing employment market was somehow stronger than all other labor force data, which would thus bring a re-think to the Fed ahead of next week’s decision.
Earnings Reports After the Close: ULTA, DOCU & HPE
We’re also still mopping up the end of calendar Q3 earnings season this week. This afternoon it’s another three companies of decent consequence having reported — all which have outperformed estimates, at least on the earnings side:
Ulta BeautyULTA shares are up +5% in late trading on solid beats on both top and bottom lines after the closing bell. Earnings of $5.14 per share were well ahead of the $4.56 in the Zacks consensus, Revenues of $2.9 billion bettered the $2.72 billion analysts had been expecting, for year-over-year growth of +12.9%. Comps rose to +6.3% for the quarter, and the company raised guidance rather substantially for the full fiscal year.
DocuSignDOCU also outpaced estimates for both earnings and sales in its Q3 report today. Earnings of $1.01 per share easily surpassed the $0.92 expected, on $818.4 million in revenues, above the $806.1 million in the Zacks consensus. Free cash flow is way up year over year, and the company increased revenue guidance for next quarter. Still, the stock trades down, as it remains under threat by OpenAI’s DocuGPT system launched earlier this fall.
Hewlett Packard EnterprisesHPE posted mixed results in its fiscal Q4 report after today’s close, with earnings of 62 cents per share outpacing estimates by 3 cents but revenues of $9.7 billion were notably short of the $9.96 billion expected. Forward guidance has been lowered for next quarter as well, helping shares down -7.6% in late trading.
What to Expect from the Stock Market Friday
Ahead of tomorrow’s open, we’ll get the delayed Personal Consumption Expenditures (PCE) report from September. Because this data pulls from so many other economic surveys, we tend to not see big surprises or revisions to previous months. Headline year-over-year PCE is expected to come in at +2.8%, a tick up from +2.74% the prior month. Core PCE year over year is anticipated to bring +2.9%, in line with August’s 2.905%.
Should we see some sort of surprise to the upside — say, a “3-handle” on headline, core or both — that could be the last bastion of data for the Fed to resist making a move on interest rates next Wednesday. But like we say, that’s not typical of PCE numbers to jump out of whack like that. Even still, we’re a few cry from the +2.6% we were seeing in April of this year, so expect the Fed to proceed with caution going forward.
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Signet raised its full-year fiscal 2026 outlook following the third quarter performance, reflecting confidence in sustained momentum despite tariff uncertainties.
The company’s recent product launches, acquisitions and deal wins will boost results. Also, unique intellectual properties and global support provided by the company are other positives.
The robust performance of the express delivery services unit is impressive. Strong liquidity and a shareholder-friendly approach also bode well for ZTO.
United Natural Foods has firmly positioned itself for long-term success by aligning offerings with evolving consumer preferences and capitalizing on its operational strengths.
Given its innovation prowess and product depth, Viavi is well-positioned to leverage major secular growth trends in 5G, fiber and 3D sensing. Its cash position is also stable.
Illumina’s breakthrough innovations and productivity enhancements are poised to help it achieve its refreshed strategic goals. Robust prospects in the NGS market are
Solventum is leveraging a $93B TAM with strong global presence, trusted brands, and innovation across wound care, dental, and health IT. Margin expansion and restructuring savings, it for sustained growth and shareholder value.
Kohl’s gains traction through Sephora expansion, tighter expense management, improved digital capabilities and momentum in home décor, gifting, impulse and other growth categories.
Higher feedstock costs are expected to hurt the company's margins. Weaker selling prices and softer demand may also affect its performance. High debt is another concern.
Novo Nordisk is facing slower GLP-1 drugs growth due to the presence of compounded alternatives and rising competition. Patent expiry and pricing pressure across the diabetes market also remain a worry.
Headwinds from geopolitical concerns and uncertainty in the healthcare industry continue to bother Avanos. Other issues like forex volatility, macroeconomic concerns and stiff competition persist.
Mondelez’s profitability came under acute pressure in the third quarter of 2025 as the company faced the full impact of input cost inflationled primarily by record-high cocoa prices.
American Eagle remains well placed on the back of cost-reduction efforts and brand progress. In addition, its Powering Profitable Growth plan bodes well.
Strength in the Energy Generation/Storage business, balance sheet strength, and focus on autonomous driving and artificial intelligence are set to drive Tesla.
Intel’s leading position in PC market, strength in servers, growing clout in software, IoT & ADAS domains and headway in process technology are positive indicators of future growth prospects.
Target’s accelerating digital ecosystem, marketplace expansion, shrink improvement, and high-margin non-merchandise streams, supported by advanced tech and AI, enhance profitability and omnichannel scale.
