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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Ross Stores, Inc.    ROST

ROSS STORES, INC.

(ROST)
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S&P 500, Dow dip on concerns over rising COVID-19 infections

11/20/2020 | 12:26pm EST

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* Pfizer up on plans to submit U.S. EUA for COVID-19 vaccine

* Ross Stores gains after results

* Dow down 0.3%, S&P falls 0.1%, Nasdaq up 0.2%

Nov 20 (Reuters) - The S&P 500 and the Dow slipped on Friday with a surge in coronavirus cases threatening to derail a fragile economic recovery, even as plans were announced for ending several of the Federal Reserve's economic support programs.

The Nasdaq edged 0.2% higher, boosted by a rise in shares of stay-at-home darlings Zoom Video Communications Inc and Amazon.com Inc.

U.S. Treasury Secretary Steven Mnuchin on Friday defended his decision to end several of the Fed's pandemic lending programs on Dec. 31, saying Congress should use the money to help small U.S. companies with grants instead.

The decision to end the programs, which were deemed essential by the central bank, comes as data showed a rise in jobless claims last week as new restrictions to control spiraling COVID-19 infections likely led to a fresh wave of layoffs.

"From a psychological standpoint it (expiry of certain Fed loan programs) could make people a little nervous," said Mike Zigmont, head of trading and research at Harvest Volatility Management.

"But the facility that is being terminated hasn't been utilized, so the fact that it's going away in December is not going to have a direct impact on anything."

Meanwhile, California and Ohio imposed nightly curfews on Thursday, with new hospitalizations jumping nearly 50% in the past two weeks in the United States.

The S&P 500 and the Dow were set for their first weekly losses in three weeks, as investors juggled between growing optimism over an effective coronavirus vaccine and near-term economic damage from the surging infections.

Hopes of a fiscal stimulus package were revived after U.S. Senate Democratic leader Chuck Schumer and Republican Majority Leader Mitch McConnell decided to resume relief talks on Thursday.

"There is a very dangerous race occurring, which is how fast can vaccinations start versus how fast infections are spreading in the country," said Mike Zigmont, head of trading and research at Harvest Volatility Management.

Major banks have upgraded their stock market forecasts for 2021 following recent promising data from COVID-19 vaccine trials.

At 11:34 a.m. ET the Dow Jones Industrial Average fell 85.64 points, or 0.29%, to 29,397.59, the S&P 500 fell 4.74 points, or 0.13%, to 3,577.13 and the Nasdaq Composite gained 17.92 points, or 0.15%, to 11,922.64.

All major S&P sectors slipped, barring utilities and healthcare.

Microchip Technology Inc jumped 5% after the chipmaker's quarterly profit and revenue came in above estimates. The Philadelphia SE semiconductor index gained 0.7%.

Pfizer Inc rose 1.2% as the company said it has applied to U.S. health regulators for emergency use authorization of its COVID-19 vaccine.

Apparel and home fashion retailer Ross Stores Inc gained 1% after its quarterly sales topped expectations.

Declining issues matched advancing ones on the NYSE, and on the Nasdaq a 0.7-to-1 ratio favored decliners.

The S&P 500 posted 14 new 52-week highs and no new low, while the Nasdaq Composite recorded 132 new highs and eight new lows. (Reporting by Shivani Kumaresan and Medha Singh in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -0.74% 3104.25 Delayed Quote.-4.69%
DJ INDUSTRIAL -0.57% 30814.26 Delayed Quote.0.68%
MICROCHIP TECHNOLOGY, INC. -3.08% 148.56 Delayed Quote.7.57%
NASDAQ 100 -0.73% 12803.932503 Delayed Quote.-0.65%
NASDAQ COMP. -0.87% 12998.502287 Delayed Quote.0.86%
PFIZER INC. -0.14% 36.7 Delayed Quote.-0.30%
ROSS STORES, INC. -0.09% 116.97 Delayed Quote.-4.76%
S&P 500 -0.72% 3768.25 Delayed Quote.0.32%
ZOOM VIDEO COMMUNICATIONS, INC. 0.34% 384.53 Delayed Quote.14.00%
All news about ROSS STORES, INC.
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More news
Financials (USD)
Sales 2021 12 538 M - -
Net income 2021 312 M - -
Net cash 2021 1 029 M - -
P/E ratio 2021 129x
Yield 2021 0,38%
Capitalization 41 695 M 41 695 M -
EV / Sales 2021 3,24x
EV / Sales 2022 2,42x
Nbr of Employees 92 500
Free-Float 93,9%
Chart ROSS STORES, INC.
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Ross Stores, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends ROSS STORES, INC.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Average target price 124,29 $
Last Close Price 116,97 $
Spread / Highest target 19,7%
Spread / Average Target 6,26%
Spread / Lowest Target -23,1%
EPS Revisions
Managers and Directors
NameTitle
Barbara Rentler Chief Executive Officer & Director
Michael J. Hartshorn Group President & Chief Operating Officer
Michael Balmuth Chairman
Travis R. Marquette Group SVP, Chief Financial & Accounting Officer
Michael K. Kobayashi President-Operations & Technology
Sector and Competitors
1st jan.Capitalization (M$)
ROSS STORES, INC.-4.76%41 695
INDUSTRIA DE DISEÑO TEXTIL, S.A.0.08%98 144
FAST RETAILING CO., LTD.-1.60%89 508
KERING SA-5.48%84 830
HENNES & MAURITZ AB4.68%35 588
ZALANDO SE2.39%28 388