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Today the Federal Open Market Committee (FOMC) will release its meeting minutes. Both the S&P U.S. manufacturing and services purchasing managers’ indexes (PMIs) are on tap, as well as the University of Michigan’s consumer sentiment and five-year inflation expectations. Initial and continuing jobless claims, core capital equipment orders, durable goods orders, and new home sales are also expected.
The following public companies are slated to release corporate earnings today, November 23:
Deere & Co. (NYSE:DE — $416.56) manufactures and distributes various equipment worldwide. Deere will report its Q3 earnings of 2022 before the bell today.
Dycom Industries Inc. (NYSE:DY — $90.20) provides specialty contracting services in the United States. Dycom will report its Q3 earnings of 2022 before the bell today.
Kingsoft Cloud Holdings Ltd. (NASDAQ:KC — $2.73) provides cloud services to businesses and organizations in China. Kingsoft Cloud will report its Q3 earnings of 2022 before the bell today.
Guess? Inc. (NYSE:GES — $19.75) designs, markets, distributes, and licenses lifestyle collections of apparel and accessories for men, women, and children. Guess? will report its Q3 earnings of 2022 after the close today.
SentinelOne Inc. (NYSE:S — $16.33) operates as a cybersecurity provider in the United States and internationally. SentinelOne will report its Q3 earnings of 2022 after the close today.
Looking ahead to tomorrow, markets will be closed in observance of Thanksgiving. No economic data is scheduled for Friday, but investors will be watching how inflation impacts Black Friday sales.
**Please note the following scheduled trading hours surrounding Thanksgiving Day in the United States: The U.S. markets will be closed for a full day on Thursday, November 24, and the U.S. stock market will be open for a half day (9:30 a.m. ET through 1:00 p.m. ET) on Friday, November 25. Trading will resume normal hours next week**
This article presents seven large-cap stocks that are regarded as cheap based on their price-to-earnings ratio. The price-to-earnings ratio tells an investor how much they are paying per share for every dollar of a company’s profit.
You can find a stock’s P/E ratio by dividing its stock price by its earnings per share. That looks like this:
P/E Ratio = Stock Price/Earnings per share (EPS)
For example, if a company is reporting earnings of $3 per share and their stock is selling for $30 per share, the P/E ratio is 10 ($30 per share/$3 per share). Many investors will look at a benchmark index like the S&P 500 as their guide for defining if a company’s P/E ratio makes a stock cheap or expensive. At the time of this writing, the average P/E ratio for stocks in the S&P 500 was 14x to 17x. That is the range we’re using for determining if a stock is cheap.
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