Earnings Season Highlights

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A collection of noteworthy post-earnings reactions

Published on Mar 31, 2021 at 8:00 AM

Indicator of the Week

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What the SPX Outperforming the NDX Means for Stocks

by Rocky White

Published on Mar 31, 2021 at 7:32 AM

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Today's Stock Market News & Events: 3/31/2021

by Schaeffer's Digital Content Team

The ADP employment report for March, as well as the Chicago PMI, and pending home sales data are all due out today.

The following companies are slated to release quarterly earnings report today, March 31:

Acuity Brands Inc. (NYSE:AYI -- $145.61) engages in the provision of lighting and building management solutions and services. Acuity Brands will report its Q2 earnings of 2021 before the bell today.

Conn's Inc. (NASDAQ:CONN -- $15.65) engages in the retail and provision of consumer goods and related services. Conn's will report its Q4 earnings of 2021 before the bell today.

Walgreens Boots Alliance Inc. (NASDAQ:WBA -- $52.98) engages in the provision of drug store services. Walgreens Boots Alliance will report its Q2 earnings of 2021 before the bell today.

Dave & Buster's Entertainment Inc. (NASDAQ:PLAY -- $47.66) owns and operates entertainment and dining venues for adults and families in North America. Dave & Buster's will report its Q4 earnings of 2020 after the close today.

Guess’ Inc. (NYSE:GES -- $23.20) designs, markets, distributes, and licenses lifestyle collections of apparel and accessories for men, women, and children. Guess’ will report its Q4 earnings of 2020 after the close today.

Micron Technology Inc. (NASDAQ:MU -- $86.54) designs, manufactures, and sells memory and storage products. Micron will report its Q2 earnings of 2021 after the close today.

nCino Inc. (NASDAQ:NCNO -- $64.07) provides cloud-based software applications for financial institutions. nCino will report its Q4 earnings of 2021 after the close today.

Sportsman's Warehouse Holdings Inc. (NASDAQ:SPWH -- $17.29) operates as an outdoor sporting goods retailer in the United States. Sportsman’s Warehouse will report its Q4 earnings of 2020 after the close today.

Verint Systems Inc. (NASDAQ:VRNT -- $44.85) provides actionable intelligence solutions. Verint Systems will report its Q4 earnings of 2020 after the close today.

Looking ahead to the first day of April tomorrow, the new month will bring a bevy of economic data with it, including initial and continuous jobless claims, the Markit manufacturing PMI, the ISM manufacturing index, data on construction spending, and motor vehicles sales.

Please note that the U.S. stock markets will be closed for the full trading day on Friday, April 2, in observance of Good Friday. The week will close out on Thursday, April 1, at 4:00 p.m. ET and trading will resume again on Monday, April 5, at 9:30 a.m. ET.

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

Published on Mar 30, 2021 at 2:52 PM

Updated on Mar 30, 2021 at 3:57 PM

Quantitative Analysis

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Signal Says Hershey Stock Could Keep Climbing

by Fernanda Horner

Published on Mar 30, 2021 at 12:38 PM

Earnings Preview

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Could This Specialty Retail Stock Be a Strong Growth Play?

by Schaeffer's Digital Content Team

Published on Mar 30, 2021 at 11:54 AM

Earnings Preview
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Lennox Stock Overdue for Fresh Round of Bull Notes

by Schaeffer's Digital Content Team

Published on Mar 30, 2021 at 10:51 AM

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T-Mobile Stock Inches Higher as TV Service Wraps Up

by Jake Scott

The shares of T-Mobile Us Inc (NASDAQ:TMUS) are up 0.3% at $123.76 at last check, after announcing TVision, the wireless carrier's live television service, will stop operating at the end of April. Customers will now be offered discounts to subscribe to Google's YouTube TV service, which is part of an expansive new multi-year deal between T-Mobile and Alphabet (GOOGL) -owned Google. The company's CEO, Mike Sievert, called the move a "big upgrade," noting that YouTube TV has twice as many channels as TVision Live.

The security has struggled for direction on the charts since claiming a record-high close of $135.54 on Jan. 11. The 200-day moving average, an area of long-term support, acted as a floor for the equity's February pullback, and TMUS is up 48.5% year-over-year.

The options pits lean bullish, per T-Mobile stock's 50-day call/put volume ratio of 3.11 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio stands higher than 94% of readings from the past year, indicating a healthier-than-usual appetite for long calls over the last 10 weeks.

Echoing this, TMUS's Schaeffer's put/call open interest ratio (SOIR) of 0.45 stands in the low 6th percentile of readings from the past year. In other words, short-term option traders have rarely been more call-biased.

Plus, these premiums are attractively priced at the moment. The stock's Schaeffer's Volatility Index (SVI) of 25% stands higher than just 12% of all other readings in its annual range, implying options players are pricing in relatively low volatility expectations at the moment.

Published on Mar 30, 2021 at 10:35 AM

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PayPal Burrows Deeper into Cryptocurrency Territory

by Laura McCandless

Published on Mar 30, 2021 at 10:26 AM

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Bullish Analyst Attention Has ROKU Eyeing Rebound

by Lillian Currens

The shares of Roku Inc (NASDAQ:ROKU) are up 1.7% at $305.84 this morning, following an upgrade from Truist Securities to "buy" from "hold." The analyst also cut its price target to $367 from $480, though, despite citing multiple revenue growth opportunities and attractive valuation.

Analysts have been mostly bullish towards the security. Coming into today, 13 in coverage called ROKU a "buy" or better, while six said "hold" or worse. What's more, the 12-month consensus price target of $474.54 represented a 57.8% premium to current levels.

A technical look shows Roku stock taking a fairly deep tumble off its Feb. 16 all-time high of $486.72, guided lower by the formerly supportive 20-day moving average. The 160-day moving average could act as a floor for ROKU going forward, and the security still sports an impressive 238% year-over-year lead.

While call volume is still winning overall, option traders have rarely been more bearish. This is per ROKU's 50-day put/call volume ratio of 0.72, which stands higher than 96% of readings 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-than-usual clip.

Lastly, the security's Schaeffer's Volatility Scorecard (SVS) sits at an elevated 92 out of 100. This indicates the security has exceeded volatility expectations during the past year -- a great thing for options buyers.

Published on Mar 30, 2021 at 10:03 AM

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Yelp Stock Surges Thanks to Lofty Bull Note

by Fernanda Horner

Amid low absolute volume, 816 calls have crossed the tape so far -- eight times the intraday average. The most popular is the April 43 call, followed by the 45 call in the same monthly series, with new positions being opened at the former.

Published on Mar 30, 2021 at 7:26 AM

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Today's Stock Market News & Events: 3/30/2021

by Schaeffer's Digital Content Team

Today investors will pore over the Case-Shiller national home price index, and the consumer confidence index.

The following companies are slated to release quarterly earnings report today, March 30:

Academy Sports and Outdoors Inc. (NASDAQ:ASO -- $24.27) operates as a sporting goods and outdoor recreational products retailer in the United States. Academy Sports and Outdoors will report its Q4 earnings of 2020 before the bell today.

AngioDynamics Inc. (NASDAQ:ANGO -- $20.83) designs, manufactures, and sells various medical, surgical, and diagnostic devices. AngioDynamics will report its Q3 earnings of 2021 before the bell today.

BioNTech S.E. (NASDAQ:BNTX -- $95.91) is a next-generation immunotherapy company, which treats cancer and other serious diseases. BioNTech will report its Q4 earnings of 2020 before the bell today.

FactSet Research Systems Inc. (NYSE:FDS -- $323.95) provides integrated financial information and analytical applications to the investment and corporate communities. FactSet will report its Q2 earnings of 2021 before the bell today.

McCormick & Co. Inc. (NYSE:MKC -- $90.13) manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. McCormick will report its Q1 earnings of 2021 before the bell today.

BlackBerry Ltd. (NYSE:BB -- $9.20) provides intelligent security software and services to enterprises and governments. BlackBerry will report its Q4 earnings of 2020 after the close today.

Chewy Inc. (NYSE:CHWY -- $78.85) engages in the pure-play e-commerce business in the United States. Chewy will report its Q4 earnings of 2020 after the close today.

IGM Biosciences Inc. (NASDAQ:IGMS -- $73.69) is a biotechnology company. IGM Biosciences will report its Q4 earnings of 2020 after the close today.

Lululemon Athletica Inc. (NASDAQ:LULU -- $316.16) engages in the designing, distributing and retail of athletic apparel and accessories. Lululemon Athletica will report its Q4 earnings of 2020 after the close today.

Phreesia Inc. (NYSE:PHR -- $50.85) provides an integrated SaaS-based software and payment platform for the healthcare industry. Phreesia will report its Q4 earnings of 2020 after the close today.

PVH Corp. (NYSE:PVH -- $97.96) engages in the design and marketing of branded dress shirts, neckwear, sportswear, jeans wear, intimate apparel, swim products, handbags, footwear, and other related products. PVH will report its Q4 earnings of 2020 after the close today.

Looking ahead to tomorrow, the ADP employment report for March, as well as the Chicago PMI, and pending home sales data are all due out

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

Published on Mar 29, 2021 at 3:38 PM

Quantitative Analysis

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Why Bulls Should Target Wayfair Stock Next Month

by Fernanda Horner

Published on Mar 29, 2021 at 3:09 PM

Earnings Preview

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LULU Hit With Bear Notes Ahead of Earnings

by Lillian Currens

The shares of Lululemon Athletica Inc (NASDAQ:LULU) have been in a rut for the better part of March, trading in a narrow channel contained by the $300 and $320 levels. This upper level has served as a ceiling since late-February, and continues to elude the equity during its pre-earnings session, in which it was last seen down 0.2% at $313.48. LULU is expected to report earnings after the close tomorrow, March 30.

A further analysis of LULU's technical troubles shows the 40-day moving average keeping a lid on shares for the better part of 2021, guiding the stock to a near 10% year-to-date loss. There still looks to be support at the 320-day moving average, however, and year-over-year, the apparel name boasts a 66% lead.

The equity could be facing some headwinds from the brokerage bunch, too. Today, Deutsche Bank slashed its target price to $396 from $400, and yesterday Piper Sandler cut its estimate to $478 from $490. This puts the 12-month price target at $402.45, which is a 27.9% premium to current levels. Meanwhile, 17 of the analysts covering the stock call it a "buy" or better, while eight say "hold."

Sentiment has been unusually bearish at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), where 1.06 puts have been picked up for every call -- a ratio that stands in the high 85th percentile of its annual range.

There may be a historical reason for some of this pre-earnings negativity. LULU was in the red after its past five earnings reports. Its three post-earnings moves prior, the stock saw positive returns, averaging a swing of 6.5% during these past two years, regardless of direction. This time around, the options pits are pricing in a slightly bigger move of 9.7%.

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