Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Mar 26, 2021 at 8:08 AM
  • Buzz Stocks

Today's Stock Market News & Events: 3/26/2021

by Schaeffer's Digital Content Team

An onslaught of economic data is due out today including reports on personal income, consumer spending, core inflation, trade in goods and the consumer sentiment index. 

There are no companies slated to release quarterly earnings report today, March 26.

Looking ahead to next week, there's plenty of economic data to digest as investors say goodbye to March and usher in a new month. The week will start quietly, highlighted by the Case-Shiller national home price index. A deluge of data will follow, including more unemployment numbers, as well as the Markit manufacturing purchasing managers' index (PMI), and the ISM manufacturing index.

The earnings slate will be relatively clean, though Walgreens Boots Alliance (WBA), Cal-Maine Foods (CALM), CarMax (KMX), Chewy (CHWY), lululemon athletica (LULU), and Micron (MU) all have quarterly reports due out.

While economic data will continue to roll in toward the end of the week, markets will be closed on Friday in observance of the Good Friday holiday. All economic dates listed here are tentative and subject to change.

Published on Mar 25, 2021 at 3:25 PM
  • Intraday Option Activity

The shares of Nike Inc (NYSE:NKE) are coming under pressure today, after the shoe and apparel company received widespread criticism on Chinese social media due to its statement expressing concern over reports of forced labor in Xinjiang, and insisting that it does not source cotton from the region. The massive backlash on Chinese websites such as Weibo (WB) led well-known Chinese actor Wang Yibo to terminate his contract with Nike, and sent U.S.-listed shares to their lowest level since November earlier today.

The stock was last seen down 3.7% at $128.27. The equity has been in selloff mode since its disappointing earnings report last week, which sent the equity pulling back from the $146 region, an area of consolidation for NKE's highs for the better part of 2021. Today's dip has the security dropping below its 140-day moving average for the first time since last May, though the 200-day moving average sits just below as a potential net, should Nike stock continue its journey southward. 

NKE March 25

Nike's options pits are sounding off, too. So far, 68,000 calls and 99,000 puts have exchanged hands. Most popular is the April 141 call, followed by the 115 put in the same monthly series, with positions being opened at both. This suggests buyers of the latter are speculating on even more downside for NKE by the time these contracts expire on April 16.

Published on Mar 25, 2021 at 2:00 PM
  • The Week Ahead

Next week, there's plenty of economic data to digest as investors say goodbye to March and usher in a new month. The week will start quietly, highlighted by the Case-Shiller national home price index. A deluge of data will follow, including more unemployment numbers, as well as the Markit manufacturing purchasing managers' index (PMI), and the ISM manufacturing index. The earnings slate will be relatively clean, though Walgreens Boots Alliance (WBA), Cal-Maine Foods (CALM), CarMax (KMX), Chewy (CHWY), lululemon athletica (LULU), and Micron (MU) all have quarterly reports due out. While economic data will continue to roll in toward the end of the week, markets will be closed on Friday in observance of the Good Friday holiday. 

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

The week will start out relatively uneventful, with nothing due out on Monday, Mar. 29

On Tuesday, Mar. 30 investors will pore over the Case-Shiller national home price index, and the consumer confidence index. 

The ADP employment report for March, as well as the Chicago PMI, and pending home sales data are all due out on Wednesday, Mar. 31

The new month will start on Thursday, April 1, bringing 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. 

Nonfarm payrolls, the unemployment rate, and average hourly earnings will wrap up the week on Friday, April 2, though markets will be closed for Good Friday. 

Published on Mar 25, 2021 at 12:45 PM
  • Quantitative Analysis

 

 
Published on Mar 25, 2021 at 10:52 AM
  • Analyst Update
Today's options pits are seeing an unusual amount of volume from both sides of the aisle. Already, over 14,000 calls and 35,000 puts have exchanged hands, which is double the volume typically seen at this point. Most popular is the April 67.50 put, followed by the 57.50 put from the same series, with new positions being opened at the latter.
Published on Mar 25, 2021 at 10:46 AM
  • Analyst Update
 
Published on Mar 25, 2021 at 10:29 AM
  • Buzz Stocks
 
Published on Mar 25, 2021 at 10:17 AM
  • Analyst Update
The security's usually quiet options pits are brimming with activity today. Amid low absolute volume, 668 calls and 322 puts have crossed the tape so far -- three times the intraday average. The most popular is the monthly April 140 call, followed by the 145 call in the same series.
Published on Mar 25, 2021 at 10:07 AM
  • Buzz Stocks

The shares of AstraZeneca plc (NASDAQ:AZN) have seen a lot of movement lately, with the drugmaker's Covid-19 vaccine popping up in the news almost daily. Once again, the security is making headlines today, after announcing that previous claims that its vaccine was 79% effective against protecting patients from coronavirus symptoms during its phase three trial were incorrect, and that the vaccine actually has a 76% efficacy rate. The security is attempting to brush off this gaff, and was last seen up 0.3% to trade at $48.89.

As we mentioned, it's been bumpy road for AZN during the past year. While Monday's news allowed the equity to briefly top its 80-day moving average -- a trendline that's more or less kept a lid on shares since last September -- the takeover was brief, and now the equity is struggling just below its year-to-date breakeven, though it still sports a year-over-year lead of around 21%. 

Amid all the chaos, short sellers have been piling on AZN, with short interest up 30.9% in the last two reporting periods. There's still plenty of room on this bearish bandwagon, however, as the 86.28 million shares sold short make up just 3.3% of AZN's available float. 

 

Published on Mar 25, 2021 at 7:31 AM
  • Buzz Stocks

Today's Stock Market News & Events: 3/25/2021

by Schaeffer's Digital Content Team

Today will feature another round of jobless claims, along with the latest gross domestic product (GDP) reading.

The following companies are slated to release quarterly earnings report today, March 25:

Darden Restaurants Inc. (NYSE:DRI -- $133.93) owns and operates full-service restaurants in the United States and Canada. Darden Restaurants will report its Q3 earnings of 2021 before the bell today.

Momo Inc. (NASDAQ:MOMO -- $14.54) operates a mobile-based social and entertainment platform in the People's Republic of China. Momo will report its Q4 earnings of 2020 before the bell today.

GAN Ltd. (NASDAQ:GAN -- $23.05) operates as a business-to-business supplier of internet gambling software-as-a-service solutions to online casino gaming and online sports betting applications in the United States. GAN will report its Q4 earnings of 2020 after the close today.

Oxford Industries Inc. (NYSE:OXM -- $80.65) designs, sources, markets, and distributes products of company owned and licensed brands, and private label apparel products. Oxford Industries will report its Q4 earnings of 2020 after the close today.

Progress Software Corp. (NASDAQ:PRGS -- $41.82) develops business applications. Progress Software will report its Q1 earnings of 2021 after the close today.

Science Applications International Corp. (NYSE:SAIC -- $94.83) provides technical, engineering, and enterprise information technology (IT) services primarily in the United States. Science Applications will report its Q4 earnings of 2020 after the close today.

Here is a quick recap of how yesterday's earnings announcements compared to expectations:

General Mills Inc. (NYSE:GIS -- $61.19) engages in the manufacture and marketing of branded consumer foods sold through retail stores. Earnings per share were up 6.49% year over year to $0.82, which missed the estimate of $0.84. Revenue of $4,520,000,000 higher by 8.13% from the same period last year, which beat the estimate of $4,450,000,000.

Winnebago Industries Inc. (NYSE:WGO -- $77.15) manufactures and sells recreation vehicles and marine products primarily for use in leisure travel and outdoor recreation activities. Earnings per share rose 216.42% over the past year to $2.12, which beat the estimate of $1.41. Revenue of $839,886,000 higher by 33.99% from the same period last year, which beat the estimate of $805,230,000.

Worthington Industries Inc. (NYSE:WOR -- $64.17) operates as a metals manufacturing company. Earnings per share rose 112.50% year over year to $1.36, which beat the estimate of $1.25. Revenue of $759,109,000 decreased by 0.64% from the same period last year, which missed the estimate of $872,500,000.

H.B. Fuller Co. (NYSE:FUL -- $58.18) formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products. Earnings per share increased 94.12% over the past year to $0.66, which beat the estimate of $0.47. Revenue of $725,904,000 higher by 12.27% from the same period last year, which beat the estimate of $680,100,000.

KB Home (NYSE:KBH -- $43.36) operates as a homebuilding company in the United States. Earnings per share rose 61.90% year over year to $1.02, which beat the estimate of $0.92. Revenue of $1,142,000,000 up by 6.13% year over year, which missed the estimate of $1,210,000,000.

Shoe Carnival Inc. (NASDAQ:SCVL -- $54.44) operates as a family footwear retailer in the United States. Earnings per share increased 116.67% year over year to $0.52, which beat the estimate of $0.51. Revenue of $253,897,000 up by 5.85% from the same period last year, which missed the estimate of $253,900,000.

Looking ahead to tomorrow, an onslaught of economic data is due out on Friday, including reports on personal income, consumer spending, core inflation, trade in goods and the consumer sentiment index. All economic dates listed here are tentative and subject to change.

Published on Mar 24, 2021 at 3:47 PM
Updated on Mar 24, 2021 at 3:50 PM
  • Intraday Option Activity
  • Earnings Preview
So far, 11,000 calls and 7,368 puts have crossed the tape, with the weekly 4/23 12.50-strik put, where positions are currently being opened, seeing the most activity.
Published on Mar 24, 2021 at 3:17 PM
  • Quantitative Analysis

 

 

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