AP

This Week: Dell earns, Best Buy earns, new home sales

Nov 20, 2022, 8:00 AM | Updated: 10:08 pm

A look at some of the key business events and economic indicators upcoming this week:

SPOTLIGHT ON DELL

Dell Technologies reports its latest quarterly snapshot Monday.

Wall Street predicts the computer and technology services -company’s fiscal third-quarter earnings fell compared with the same period last year. That would echo the company’s results in its previous two quarters. Investors will be listening for an update on how Dell’s personal computer sales trends are faring heading into the holiday shopping season.

ANOTHER DOWNBEAT QUARTER?

Best Buy has been struggling this year amid weakening consumer demand and rising costs due to supply chain disruptions.

The nation’s consumer electronics chain has posted lower quarterly profits and revenue through the first half of its current fiscal year, which began in February, as consumers have reined in spending on electronics amid sharply higher prices for necessities like food and gas. Wall Street expects the economic trends continued to weigh on Best Buy in the third quarter. The company serves up its quarterly results Tuesday.

HOUSING BAROMETER

The Commerce Department releases its October tally of new U.S. home sales Wednesday.

Economists project that sales slowed last month to a seasonally adjusted annual rate of 572,500 homes. Sales were running at an annual rate of 603,000 homes in September. The housing market has cooled after a strong start to the year as sharply higher mortgage rates have made homeownership less affordable for many would-be buyers.

New home sales, seasonally adjusted annual rate, by month:

May 636,000

June 571,000

July 543,000

Aug. 677,000

Sept. 603,000

Oct. (est.) 572,500

Source: FactSet

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Photo: Israeli soldiers drive a tank near the Israeli-Gaza border, in southern Israel, Wednesday, J...

Jack Jeffery, The Associated Press

8 Israeli soldiers killed in southern Gaza in deadliest attack on Israeli forces in months

An explosion in Gaza killed eight Israeli soldiers, the military said Saturday, making it the deadliest attack on Israeli forces in months.

4 hours ago

Juanita Beach Kirkland...

Kathy McCormack and Nick Perry, The Associated Press

‘Tis the season for swimming and bacteria alerts in lakes, rivers

With summer about to start, many people flocking to their favorite swimming holes may also want to read up on bacteria warnings.

1 day ago

Image: Members of the Makah Indian tribe paddle away from the rising sun as they head from Neah Bay...

Associated Press

Washington’s Makah Tribe clears major hurdle toward resuming traditional whale hunts

The U.S. granted the Makah Indian Tribe a long-sought waiver that helps clear the way for its first sanctioned whale hunts since 1999.

2 days ago

jerry west...

Tim Reynolds, The Associated Press

Jerry West, a 3-time Hall of Fame selection and the NBA logo, dies at 86

Jerry West, a three-time Basketball Hall of Fame inductee whose silhouette is considered to be the basis of the NBA logo, died Wednesday morning.

4 days ago

Photo: Construction vehicles are parked outside of the Station U & O building on Tuesday, June 11, ...

Haleluya Hadero, The Associated Press

Amazon adds $1.4B to affordable housing fund for regions where it has corporate offices

Amazon is adding $1.4B to a fund for building more affordable housing in regions where the company has major corporate offices.

4 days ago

hunter biden...

Randall Chase and the Associated Press

Hunter Biden convicted of all 3 felony charges in federal gun trial

Hunter Biden has been convicted of all three felony charges related to the purchase of a revolver in 2018, but no sentencing date was set.

5 days ago

This Week: Dell earns, Best Buy earns, new home sales