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BenzingaEditorial

The Storyline of This Week’s Earnings Reports

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Although first-quarter earnings season is winding down, a handful of major companies is reporting their earnings results this week. Some of the most eagerly anticipated ones are Airbnb (NASDAQ: ABNB), Walt Disney Corporation (NYSE: DIS), Roblox Corporation (NYSE: RBLX) and Bumble Inc (NASDAQ: BMBL).

Monday – travel, space travel and gaming

Just week after Expedia (NASDAQ: EXPE) told us that pleasure trips are filling hotels, but business excursions haven’t come back much at all because everybody’s still using Zoom, the largest US hospitality company, Marriott International Inc (NASDAQ: MAR) reported a loss of 3 cents per share or net loss of $million today before the market opened.

Virgin Galactic Holdings (NYSE: SPCE) will need its report to alleviate cash burning concerns.

A gaming platform geared toward pre-teens that made its IPO roughly two months ago, Roblox Corporation. Roblox has been a prime beneficiary of the pandemic that kept kids indoors but how players respond when alternate activities outside of the home are permitted will have a big say in the company’s future.

Tuesday – Palantir

Palantir Technologies (NYSE: PLTR) needs to give investors any kind of good news on Tuesday as there are big questions that still surround this company, including exactly what kind of company it is – a software company or a consulting firm? Although it is not ‘new’, the company is fresh to the public markets as it only executed its direct listing at the end of September and this earnings release is its third so far.

Wednesday – dating and cannabis

With vaccine rollouts and eased restrictions, analysts have high projections for the women-centric app company that rewrote the rules of the online dating game. When it smashed expectations last March, Wall Street started paying attention on Bumble Inc, but this report will be a true test as it attempts to beat estimates again.

Unlike many retailers, GrowGeneration Corporation (NASDAQ: GRWG) has expanded its guidance as the country reopens, estimating it can earn $415 million to $430 million in revenue this year, more than double 2020 levels. As a reminder, its 2020 revenue of $193 million soared 143% compared to 2019 levels thanks mainly to robust same-store sales growth. With 53 locations and an e-commerce site while expanding its selection of private label products, GrowGeneration is doing all the right things to lead the way as the cannabis industry rapidly continues to expand. With the addressable market and its product selection, it aims to have 100 stores by 2023 and  operate in all 50 states. Although it has many competitors, even larger retailers such as Home Depot (NYSE: HD) cannot match its selection or its private label products.

Thursday – Chinese e-commerce giant and global entertainment giant star along food delivery and online marketplace for lodging

Alibaba (NYSE: BABA) continues to trade at a discount despite the fact that the company has demonstrated high-growth and high-profitability characteristics that are consistent with its American FAANG peers which enjoy premium valuations. Before markets open on Thursday, investors will want to know what it takes to revive the shares. With the Chinese economy on a path towards revitalization, Alibaba profits will also continue its rapid growth, given that the company controls about two-thirds of China’s e-commerce market through Taobao and Tmall.

Disney’s  got the best story going forward. In March, management announced the record-breaking Disney Plus is expected to have 230 million and 260 million global subscribers by the end of fiscal 2024. While that goal would be impressive, if achieved, it will require significant investment which may impact profits so investors will want to hear more about the long-term growth strategy as the direct-to-consumer business segment is expected to become profitable by that year as well whereas it lost $2.8 billion in fiscal 2020.

DoorDash Inc (NYSE: DASH) might have been a big winner from the pandemic but being a cost-intensive business, its margins will likely be squeezed by elevated marketing and R&D expenses. Also, there will be pricing pressure as regulators have capped the fee restauranters can pay to delivery service providers. The market reopening, encouraged by the vaccination drive, is directly reducing the consumer’s reliance on digital platforms for ordering food, which can affect revenue performance in the future. However, the food delivery service company is seeing stable order volumes in certain markets where COVID restrictions have been eased which is a good sign.

A newly public vacation rental company Airbnb’s results are closely tied to the pace of the economic recovery. Airbnb might tell a terrific story as it’s story isn’t about business travel but about pleasure and  pleasureis booming. With more individuals now vaccinated and itching for getaways, its recovery prospects should be brighter at the very least.

The recently listed Coinbase Global Inc (NASDAQ: COIN) is set to hold its first-quarter earnings conference call after it posted stellar earnings. With a total revenue of approximately $1.8 billion and net income of roughly $730 million to $800 million, Coinbase also announced a big milestone in regulated cryptocurrency trading with the inclusion of PayPal (NASDAQ: PYPL) as a payment method for its US customer base. The crypto businesses is booming but this world remains a mystery we’re still unraveling.

Friday- ending the week with retail sales.

One of the key reports investors will be watching this week will be the April retail sales report from the Commerce Department due out Friday that will reveal the strength of consumer spending. Most pundits are expecting some payback after an exceptionally strong March report, when spending  had been boosted by the latest round of stimulus checks.

So far, companies have been smashing expectations this earnings season. Corporate profits easily exceededestimates as demand rebounded from the worst points of the pandemic last year. On Friday, FactSet revealed that about nine in 10 S&P 500 companies had reported first-quarter results, and 86% of them topped expectations. This week, we’ll see if this chapter can end on the same positive note.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

BenzingaEditorial

This Week’s Recap

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The market and the economy continue to open, which is probably a result of bottled-up demand for many products and services affected by the pandemic. Maybe the inflation or rising bond yields will trigger the selloff on the market at some moment, but the current Fed’s transitory inflation message has been accepted by many investors. Also, the best way to deal with inflation is to stay with your investments and keep your faith in the market. So, despite the jump of May’s consumer-price index, that did not affect the investors who adopted a different mindset, so all three major averages finished in a positive zone.

The Dow Jones Industrial Average managed to recover from one of the steeper declines, thanks to gains from companies like IBM (NYSE: IBM), Microsoft (NASDAQ: MSFT), and Salesforce (NYSE: CRM). The Nasdaq Composite Index has also risen 49.09 points to 14,069.42. The tech-heavy index continued with the positive run, led by DocuSign (NASDAQ: DOCU), Zoom Video (NASDAQ: ZM), and CrowdStrike (NASDAQ: CRWD).

Tuesday brought us an earnings report from Oracle

Although it was a slim week for the earnings reports, Oracle (NYSE: ORCL) announced its last quarter results, as well as plans and guidance. The results are better than expected, as the achieved revenues were $11.23 billion (compared to the expected $11.04 billion) and the achieved adjusted earnings of $1.54 per share (compared to the expected $1.31). On the other hand, the company revealed its quarterly revenue guidance, which is lower than expected due to the plans to increase investments to support its cloud strategy and keep migrating existing on-premises customers to the cloud. This all led to a share fall of 5%, as many investors are skeptical if Oracle can successfully compete with major “cloud” players like Amazon (NASDAQ: AMZN), Salesforce, or Workday (NASDAQ: WDAY).

Adobe reported impressive results on Thursday

The Wall Street analysts recognized the work-from-home trend and this second digitization era as the main reasons for Adobe’s (NASDAQ: ADBE) sustained growth and therefore a monster quarter. And they were right. The company reported revenues of $3.84 billion, which is an increase of 23% compared year to year. That is also above the Wall Street estimate of $3.73 billion. The digital media business revenues, consisting of Creative Cloud and Document Cloud, grew by 25% compared to the previous year. The adjusted earnings per share were $3.03, which is higher than the estimated $2.81. For the following quarter, the company expects revenues of $3.88 billion and adjusted earnings per share of $3.00.

Conclusion

All these factors taken together, proven by positive index movements and earnings results better than anticipated, support the fact that the economic recovery is firmly underway, and those are very encouraging news.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

Several new earnings reports and more management presentations this week

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We might be witnessing the lower volume of quarterly earnings reports this week, but that only means we passed last quarter’s report peak and we are getting ready for the June-quarter earnings season, which will hit us not long after the 4th of July. However, we do not lack many management presentations, which are typical after announcing earnings reports. This week brings us news for future result expectations from more than 30 companies, so let’s try and not miss any important clues. Besides earnings reports, this week is bringing us a total of 9 new IPOs like Marqeta, Inc. (NASDAQ: MQ), TaskUs, Inc. (NASDAQ: TASK), LifeStance Health Group, Inc. (NASDAQ: LFST), monday.com Ltd. (NASDAQ: MNDY), Zeta Global Holdings Corp.(NYSE: ZETA) and Jaws Hurricane Acquisition Corp (NASDAQ: HCNEU).

Monday

Yesterday we saw the first quarter report of fiscal 2022 for Marvell Technology (NASDAQ: MRVL), a Delaware-based company that develops and produces semiconductors and related technology. Marvel Technologies reported new revenues of $832 million, which is an increase of 20% year-to-year. GAAP gross profit margin was 50.2% and non-GAAP gross margin was 64.3%, while GAAP diluted loss per share was $0.13 and non-GAAP diluted income per share was $0.29.

Also, Vail Resorts, Inc. (NYSE: MTN) which owns and operates several premier mountain resorts in Colorado and California, reported fiscal 2021 third-quarter results yesterday. The report showed a net income of $274.6 million which is an increase of 80% compared to the third fiscal quarter of 2020. The reported EBITDA was $462.2 million, which is a significant increase from last year same quarter’s $304.4 million.

Tuesday

Besides earnings reports from Navistar International (NYSE: NAV) and Calavo Growers (NASDAQ: CVGW) on Tuesday, we are also expecting reports from Thor Industries (NYSE: THO), Casey’s General Stores (NASDAQ: CASY), and ABM Industries (NYSE: ABM).

Wednesday

Wednesday is reserved for earnings reports from Brown Forman (NYSE: BF-B), United Natural Foods (NYSE: UNFI), and Restoration Hardware (NYSE: RH). RH, the California-based furnishing company is expected to report earnings of $3.99 per share, which is growth of over 214% compared to the same period last year. Also, GameStop Corp (NYSE: GME), one of the world’s largest video game retailer’s earnings report is expected on Wednesday. The expected loss for the first quarter is $0.68 per share, which is an improvement from the same period last year (-%1.61 per share). In order to accelerate its transformation, the company decided to restructure its board, so it can keep up with industry growth and company expansion in the digital arena.

Thursday

On Thursday, we expect to see reports from National Beverage (NASDAQ: FIZZ), Chewy (NYSE: CHWY), and Dave & Buster’s (NASDAQ: PLAY). Chewy, the Florida-based pet store retailer, is expected to report a quarterly revenue growth of over 125%, compared year over year.

Friday

We are not expecting any major earnings reports on Friday.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

The week may be starting slowly but do not let that mislead you

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The celebration of Memorial Day in the U.S. caused the slower start, but the rest of the week will bring us plenty of news, updates, and earnings reports from companies like Zoom Video Communications (NASDAQ: ZM), Hewlett-Packard Enterprise (NYSE: HPE), Advanced Auto Parts (NYSE: AAP) and Slack Technologies, Inc. (NYSE: WORK). This week will also bring us news from the EV and the IPO worlds, as well as the 2021 Bitcoin conference, one of the biggest cryptocurrency events this year. Before we move to the day-to-day highlights, if you are a small business owner, do not miss today’s deadline to apply for the latest round of the Paycheck Protection Program funding.

Tuesday

This week’s earnings reports will be led by Kirkland’s Inc (NASDAQ: KIRK), and that is due before the market opens. It will be followed by HP’s and Zoom’s earnings reports, after the bell. SoFi Technologies (NYSE: SOFI) is a fintech startup IPO joining the trading world after its SPAC merger on Friday.

 

Wednesday

Before the market opens on Wednesday, we are expecting the earnings reports from Advance Auto Parts and Lands’ End Inc (NASDAQ: LE). The reports will keep coming after the bell as well, so we are keen to see how NetApp Inc (NASDAQ: NTAP), Endeavor Group Holdings (NYSE: EDR), Splunk Inc (NASDAQ: SPLK), and PVH Corp (NYSE: PVH) did in the previous period. Wednesday is also the day when we are expecting the Beige Book, which will give us the latest analysis of the economic conditions in the U.S. as the COVID-19 restrictions reduce.

Thursday

Thursday is expected to be the busiest of the week, when we expect earnings reports from Express Inc (NYSE: EXPR), Asana Inc (NYSE: ASAN), Duluth Holdings Inc (NASDAQ: DLTH), Broadcom Inc (NASDAQ: AVGO), The Toro Company (NYSE: TTC), The Cooper Companies (NYSE: COO), Science Applications International Corporation (NYSE: SAIC), Lululemon Athletica (NASDAQ: LULU), as well as Slack Technologies.

Thursday is a big day for NVIDIA Corporation (NASDAQ: NVDA) also. After reporting the record profits and earnings, highly affected by the company’s revenues from graphic cards for crypto mining, the shareholders will vote on a 4-for-1 stock split. That will increase the number of authorized shares of common stock, and if approved, each shareholder will receive an additional dividend of three additional shares.

Thursday will be also interesting in the automotive world. Kia will start taking reservations for its new EV6 crossover, while Nio Inc (NYSE: NIO), the Chinese automaker, will hold a general meeting so it can increase the diversity of its board.

This day will also be dominated by cryptocurrencies, as the 2021 Bitcoin conference, taking place in Miami, will kick-off.

Friday

The week’s end is reserved for the earnings report from Hooker Furniture Corporation (NASDAQ: HOFT), and that is expected before the opening bell. During the rest of Friday, we will focus on the latest unemployment rates and data.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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