Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Aug 19, 2021 at 10:14 AM
Updated on Aug 19, 2021 at 10:20 AM
  • Buzz Stocks
 
Published on Aug 19, 2021 at 10:00 AM
  • The Week Ahead

Though the earnings docket looks comparatively bare next week, with the height of the earnings season just now behind us, there will still be more than enough economic data to unpack. More specifically, the Markit manufacturing purchasing managers' index (PMI) is due out, in addition to new and existing home sales, personal income, and consumer goods data. Plus, initial and continuing jobless data remains on tap, as well as a gross domestic product (GDP) revision.

As for earnings, a few big names are yet to report, including Abercrombie & Fitch (ANF), Best Buy (BBY), Dick's Sporting Goods (DKS), Dollar General (DG), Dollar Tree (DLTR), JD.Com (JD), Palo Alto Networks (PANW), Peloton (PTON), Salesforce (CRM), Snowflake (SNOW), Ulta Beauty (ULTA), Urban Outfitters (URBN), and Williams-Sonoma (WSM).

Below is a list of key market events scheduled for the upcoming week. All economic dates listed below are tentative and subject to change.

Monday, August 23, brings both the Markit manufacturing and services PMI, as well as existing home sales data.

Things will be quiet on Tuesday, August 24, with only new home sales data on tap.

On Wednesday, August 25, durable and nondefense capital goods orders are due out.

The usual round of initial and continuing jobless claims are scheduled for Thursday, August 26, in addition to a GDP revision.

The week ends on Friday, August 27, with a slew of economic indicators, including personal income, consumer spending, trade in goods, and core personal consumption expenditures (CPE) data. Plus, the University of Michigan will release its final consumer sentiment index.

Published on Aug 19, 2021 at 8:10 AM
  • Buzz Stocks

Today's Stock Market News & Events: 8/19/2021

by Schaeffer's Digital Content Team

Today another fresh round of Initial and continuing jobless claims are due out, in addition to the Philadelphia Fed manufacturing index, and the index of leading economic indicators for July.

The following companies are slated to release quarterly earnings today, August 19:

Baozun Inc. (NASDAQ:BZUN -- $21.14) provides e-commerce solutions to brand partners in the People's Republic of China. Baozun will report its Q2 earnings of 2021 before the bell today.

Bilibili Inc. (NASDAQ:BILI -- $68.46) provides online entertainment services for the young generations in the People's Republic of China. Bilibili will report its Q2 earnings of 2021 before the bell today.

BJ's Wholesale Club Holdings Inc. (NYSE:BJ -- $51.93) operates warehouse clubs on the east coast of the United States. BJ's Wholesale will report its Q2 earnings of 2021 before the bell today.

The Estée Lauder Co. Inc. (NYSE:EL -- $319.08) manufactures and markets skin care, makeup, fragrance, and hair care products. Estée Lauder will report its Q4 earnings of 2021 before the bell today.

Kohl's Corp. (NYSE:KSS -- $51.85) operates as a retail company in the United States. Kohl's will report its Q2 earnings of 2021 before the bell today.

Macy's Inc. (NYSE:M -- $18.07) operates stores, websites, and mobile applications under the Macy's, Bloomingdale's, and bluemercury brands. Macy's will report its Q2 earnings of 2021 before the bell today.

Madison Square Garden Entertainment Corp. (NYSE:MSGE -- $61.96) engages in the entertainment business. Madison Square Garden will report its Q4 earnings of 2021 before the bell today.

Performance Food Group Co. (NYSE:PFGC -- $44.80) markets and distributes food and food-related products in the United States. Performance Food Group will report its Q2 earnings of 2021 before the bell today.

Petco Health and Wellness Co. Inc. (NASDAQ:WOOF -- $19.30) operates as a retailer of premium pet consumables, supplies, and companion animals and services. Petco Health and Wellness will report its Q2 earnings of 2021 before the bell today.

Tapestry Inc. (NYSE:TPR -- $41.46) designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. Tapestry will report its Q4 earnings of 2021 before the bell today.

Adtalem Global Education Inc. (NYSE:ATGE -- $35.47) provides educational services worldwide. Adtalem Global Education will report its Q4 earnings of 2021 after the market closes today.

Applied Materials Inc. (NASDAQ:AMAT -- $127.37) provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. Applied Materials will report its Q3 earnings of 2021 after the market closes today.

Farfetch Ltd. (NYSE:FTCH -- $41.49) provides an online marketplace for luxury fashion goods in the United States, the United Kingdom, and internationally. Farfetch will report its Q2 earnings of 2021 after the market closes today.

Ross Stores Inc. (NASDAQ:ROST -- $124.05) operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands. Ross Stores will report its Q2 earnings of 2021 after the market closes today.

Looking ahead to tomorrow, no economic data is scheduled.

All economic dates listed here are tentative and subject to change.

Published on Aug 18, 2021 at 3:34 PM
  • Intraday Option Activity
 So far, 16,000 calls and 7,366 puts have crossed the tape, or six times the intraday average. Most popular by far is the August 80 call, where new positions are being opened.
Published on Aug 18, 2021 at 3:18 PM
  • Buzz Stocks
  • Earnings Preview
 
Published on Aug 18, 2021 at 12:06 PM
  • Options Recommendations
Sports betting staple DraftKings Inc. (NASDAQ:DKNG) just broke out of a flag pattern late last week, and has found support at the round +10% year-to-date and +50% year-over-year breakeven levels. Plus, with the company moving into the sale of vastly popular non-fungible tokens (NFTs) and newly legalized sports gambling in Canada, DKNG is the stock to watch right now in that sector.
 
 
A further unwinding of short interest could send the equity higher. These bearish bets fell 4.7% during the last reporting period, but still make up 4.7% of the stock’s available float. There’s room for upgrades, too. Of the 20 in coverage, six consider DKNG a tepid "hold."
 
Some of this pessimism is being echoed in the options pits, where DKNG sports a 50-day put/call volume ratio that stands in the 78th percentile of its 12-month range at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This implies puts are being picked up at a much quicker clip than usual. What's more, with the upcoming expiration of peak call open interest at the 55-strike in the August series, this potential level of resistance will be eliminated and leaves more potential upside for the shares.  
 
Now looks like a perfect time to get in on DKNG’s next move higher with calls. The security's Schaeffer's Volatility Index (SVI) of 41% stands lower than all other readings from the past year, meaning options traders are pricing in extremely low volatility expectations at the moment. Plus, its Schaeffer's Volatility Scorecard (SVS) ranks at 73 out of a possible 100, implying that the stock tends to outperform these expectations – a good thing for buyers.
 
Subscribers to Schaeffer's Weekend Trader options recommendation service received this DKNG commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.
Published on Aug 18, 2021 at 11:17 AM
  • Buzz Stocks
 
Published on Aug 18, 2021 at 9:43 AM
Updated on Aug 18, 2021 at 9:45 AM
  • Buzz Stocks
The shares of Lowe's Companies Inc (NYSE:LOW) are up 4.2% at $189.85 this morning, after the home improvement retailer beat Wall Street's second-quarter earnings estimates.
Published on Aug 18, 2021 at 9:39 AM
  • Analyst Update
 
Published on Aug 18, 2021 at 9:37 AM
  • Buzz Stocks

Mobile name BlackBerry Ltd (NYSE:BB) is getting some redemption from yesterday's news that a cybersecurity flaw in an older version of its QNX RTOS software could be risky for cars and medical equipment that employ the technology, exposing these systems to attackers. Its stock is up 1.6% at $9.82 this morning, after Canaccord Genuity pushed back, upgrading BB to "hold" from "sell," and asserting that it does not think the flaw will have a major impact on "QNX's strong design wins in the automarket," adding that its long-term prospects will be minimally affected. 

The equity has seen a dramatic slide since its days as Reddit's darling pushed the equity as high as the $28 level in late January. Another rally in June was quickly snuffed out by the $20 region, though BB looks to have found support at the 200-day moving average, and is still sporting an over 100% year-over-year lead. 

The equity could be ripe for more upgrades and/or price-target hikes, especially considering the 12-month consensus price target of $8.36 is a hefty 13.6% discount to last night's close. What's more, the stock sported two "hold" ratings, and five "strong sell" ratings heading into today. 

A shift in the options pits could also put wind at BB's back. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day put/call volume ratio sits higher than all but 2% of readings from the past 12 months. This suggests long puts are being picked up at a much quicker-than-usual clip. 

Published on Aug 18, 2021 at 9:14 AM
  • Buzz Stocks
  • Earnings Preview

Do Not Overlook This Small-Cap Retail Stock

by Schaeffer's Digital Content Team
 
Published on Aug 18, 2021 at 7:55 AM
  • Buzz Stocks

Today's Stock Market News & Events: 8/18/2021

by Schaeffer's Digital Content Team

Today will feature building permits, housing starts. FOMC minutes will be released this afternoon. 

The following companies are slated to release quarterly earnings today, August 18:

Analog Devices Inc. (NASDAQ:ADI -- $166.30) designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems that leverage analog, mixed-signal, and digital signal processing technologies. Analog Devices will report its Q3 earnings of 2021 before the bell today.

Brinker International Inc. (NYSE:EAT -- $50.92) owns, develops, operates, and franchises casual dining restaurants in the United States and internationally. Brinker will report its Q4 earnings of 2021 before the bell today.

Lowe's Co. Inc. (NYSE:LOW -- $182.26) operates as a home improvement retailer in the United States and internationally. Lowe's will report its Q2 earnings of 2021 before the bell today.

Lumentum Holdings Inc. (NASDAQ:LITE -- $80.24) manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Lumentum will report its Q4 earnings of 2021 before the bell today.

OSI Systems Inc. (NASDAQ:OSIS -- $98.88) designs, manufactures, and sells electronic systems and components worldwide. OSI Systems will report its Q4 earnings of 2021 before the bell today.

SFL Corporation Ltd. (NYSE:SFL -- $7.04) engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. SFL Corporation will report its Q2 earnings of 2021 before the bell today.

Target Corp. (NYSE:TGT -- $254.65) operates as a general merchandise retailer in the United States. Target will report its Q2 earnings of 2021 before the bell today.

The Children's Place Inc. (NASDAQ:PLCE -- $100.58) operates as a children's specialty apparel retailer. The Children's Place will report its Q2 earnings of 2021 before the bell today.

The TJX Co. Inc. (NYSE:TJX -- $69.15) operates as an off-price apparel and home fashions retailer. TJX will report its Q2 earnings of 2021 before the bell today.

Vipshop Holdings Ltd. (NYSE:VIPS -- $14.66) operates as an online discount retailer for various brands in the People's Republic of China. Vipshop will report its Q2 earnings of 2021 before the bell today.

Weibo Corp. (NASDAQ:WB -- $46.35) operates as a social media platform for people to create, distribute, and discover content in the People's Republic of China. Weibo will report its Q2 earnings of 2021 before the bell today.

Bath & Body Works Inc. (NYSE:BBWI -- $59.17) engages in the retailing of body care, home fragrance products, soaps, and sanitizers. Bath & Body Works will report its Q2 earnings of 2021 after the market closes today.

Cisco Inc. (NASDAQ:CSCO -- $56.01) designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. Cisco will report its Q4 earnings of 2021 after the market closes today.

DLocal Ltd. (NASDAQ:DLO -- $48.51) operates a payments platform worldwide. DLocal will report its Q2 earnings of 2021 after the market closes today.

Keysight Technologies Inc. (NYSE:KEYS -- $164.42) provides electronic design and test solutions to commercial communications, networking, aerospace, defense and government, automotive, energy, semiconductor, electronic, and education industries in the Americas, Europe, and the Asia Pacific. Keysight will report its Q2 earnings of 2021 after the market closes today.

NVIDIA Corp. (NASDAQ:NVDA -- $194.58) operates as a visual computing company worldwide. NVIDIA will report its Q2 earnings of 2021 after the market closes today.

Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB -- $24.58) develops, operates, and franchises full-service and casual-dining restaurants. Red Robin Gourmet will report its Q2 earnings of 2021 after the market closes today.

Robinhood Markets Inc. (NASDAQ:HOOD -- $46.67) operates financial services platform in the United States. Robinhood Markets will report its Q2 earnings of 2021 after the market closes today.

SpartanNash Co. (NASDAQ:SPTN -- $20.50) distributes and retails grocery products. SpartanNash will report its Q2 earnings of 2021 after the market closes today.

Synopsys Inc. (NASDAQ:SNPS -- $291.62) provides electronic design automation software products used to design and test integrated circuits. Synopsys will report its Q3 earnings of 2021 after the market closes today.

ZTO Express Inc. (NYSE:ZTO -- $26.23) provides express delivery and other value-added logistics services in the People's Republic of China. ZTO Express will report its Q2 earnings of 2021 after the market closes today.

Looking ahead to tomorrow, another fresh round of Initial and continuing jobless claims are due out, in addition to the Philadelphia Fed manufacturing index, and the index of leading economic indicators for July.

All economic dates listed here are tentative and subject to change.

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