Stocks ticked lower last week, as both the Dow Jones Industrial Average and the S&P 500 shed less than 1%. This left both indexes near their all-time highs and in positive territory so far in 2020.
It's a shortened week ahead, but several big businesses will announce operating results over the next few trading days. Below we'll look at the key trends from Ambarella (NASDAQ: AMBA) , Best Buy (NYSE: BBY) , and Urban Outfitters (NASDAQ: URBN) that might send their stocks moving this week.
Ambarella reports its results after the market closes on Monday, and investors are eager to hear updates about its video chip business. Its last quarterly announcement showed significant pandemic-related stress on the company, with sales declining 11% to $50 million. Yet CEO Fermi Wang and his team said they were excited about Ambarella's latest push into artificial intelligence applications, including in the growing autonomous driving niche.
For further details see:
3 Things to Watch in the Stock Market This Week