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Wall Street Week Ahead for the trading week beginning June 29th, 2020

Good Saturday afternoon to all of you here on StockMarket. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week ahead.
Here is everything you need to know to get you ready for the trading week beginning June 29th, 2020.

Fragile economic recovery faces first big test with June jobs report in the week ahead - (Source)

The second half of 2020 is nearly here, and now it’s up to the economy to prove that the stock market was right about a sharp comeback in growth.
The first big test will be the June jobs report, out on Thursday instead of its usual Friday release due to the July 4 holiday. According to Refinitiv, economists expect 3 million jobs were created, after May’s surprise gain of 2.5 million payrolls beat forecasts by a whopping 10 million jobs.
“If it’s stronger, it will suggest that the improvement is quicker, and that’s kind of what we saw in May with better retail sales, confidence was coming back a little and auto sales were better,” said Kevin Cummins, chief U.S. economist at NatWest Markets.
The second quarter winds down in the week ahead as investors are hopeful about the recovery but warily eyeing rising cases of Covid-19 in a number of states.
Stocks were lower for the week, as markets reacted to rising cases in Texas, Florida and other states. Investors worry about the threat to the economic rebound as those states move to curb some activities. The S&P 500 is up more than 16% so far for the second quarter, and it is down nearly 7% for the year. Friday’s losses wiped out the last of the index’s June gains.
“I think the stock market is looking beyond the valley. It is expecting a V-shaped economic recovery and a solid 2021 earnings picture,” said Sam Stovall, chief investment strategist at CFRA. He expects large-cap company earnings to be up 30% next year, and small-cap profits to bounce back by 140%.
“I think the second half needs to be a ‘show me’ period, proving that our optimism was justified, and we’ll need to see continued improvement in the economic data, and I think we need to see upward revisions to earnings estimates,” Stovall said.
Liz Ann Sonders, chief investment strategist at Charles Schwab, said she expects the recovery will not be as smooth as some expect, particularly considering the resurgence of virus outbreaks in sunbelt states and California.
“Now as I watch what’s happening I think it’s more likely to be rolling Ws,” rather than a V, she said. “It’s not just predicated on a second wave. I’m not sure we ever exited the first wave.”
Even without actual state shutdowns, the virus could slow economic activity. “That doesn’t mean businesses won’t shut themselves down, or consumers won’t back down more,” she said.

Election ahead

In the second half of the year, the market should turn its attention to the election, but Sonders does not expect much reaction to it until after Labor Day. RealClearPolitics average of polls shows Democrat Joe Biden leading President Donald Trump by 10 percentage points, and the odds of a Democratic sweep have been rising.
Biden has said he would raise corporate taxes, and some strategists say a sweep would be bad for business, due to increased regulation and higher taxes. Trump is expected to continue using tariffs, which unsettles the market, though both candidates are expected to take a tough stance on China.
“If it looks like the Senate stays Republican than there’s less to worry about in terms of policy changes,” Sonders said. “I don’t think it’s ever as binary as some people think.”
Stovall said a quick study shows that in the four presidential election years back to 1960, where the first quarter was negative, and the second quarter positive, stocks made gains in the second half.
Those were 1960 when John Kennedy took office, 1968, when Richard Nixon won; 1980 when Ronald Reagan’s was elected to his first term; and 1992, the first win by Bill Clinton. Coincidentally, in all of those years, the opposing party gained control of the White House.

Stimulus

The stocks market’s strong second-quarter showing came after the Fed and Congress moved quickly to inject the economy with trillions in stimulus. That unlocked credit markets and triggered a stampede by companies to restructure or issue debt. About $2 trillion in fiscal spending was aimed at consumers and businesses, who were in sudden need of cash after the abrupt shutdown of the economy.
Fed Chairman Jerome Powell and Treasury Secretary Steven Mnuchin both testify before the House Financial Services Committee Tuesday on the response to the virus. That will be important as markets look ahead to another fiscal package from Congress this summer, which is expected to provide aid to states and local governments; extend some enhanced benefits for unemployment, and provide more support for businesses.
“So much of it is still so fluid. There are a bunch of fiscal items that are rolling off. There’s talk about another fiscal stimulus payment like they did last time with a $1,200 check,” said Cummins.
Strategists expect Congress to bicker about the size and content of the stimulus package but ultimately come to an agreement before enhanced unemployment benefits run out at the end of July. Cummins said state budgets begin a new year July 1, and states with a critical need for funds may have to start letting workers go, as they cut expenses.
The Trump administration has indicated the jobs report Thursday could help shape the fiscal package, depending on what it shows. The federal supplement to state unemployment benefits has been $600 a week, but there is opposition to extending that, and strategists expect it to be at least cut in half.
The unemployment rate is expected to fall to 12.2% from 13.3% in May. Cummins said he had expected 7.2 million jobs, well above the consensus, and an unemployment rate of 11.8%.
As of last week, nearly 20 million people were collecting state unemployment benefits, and millions more were collecting under a federal pandemic aid program.
“The magnitude here and whether it’s 3 million or 7 million is kind of hard to handicap to begin with,” Cummins said. Economists have preferred to look at unemployment claims as a better real time read of employment, but they now say those numbers could be impacted by slow reporting or double filing.
“There’s no clarity on how you define the unemployed in the Covid 19 environment,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “If there’s 30 million people receiving insurance, unemployment should be above 20%.

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!

Major Indices Rally Levels as of Friday's close:

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Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)

When Will The Economy Recover?

The economy is moving in the right direction, as many economic data points are coming in substantially better than what the economists expected. From May job gains coming in more than 10 million higher than expected and retail sales soaring a record 18%, how quickly the economy is bouncing back has surprised nearly everyone.
“As good as the recent economic data has been, we want to make it clear, it could still take years for the economy to fully come back,” explained LPL Financial Senior Market Strategist Ryan Detrick. “Think of it like building a house. You get all the big stuff done early, then some of the small things take so much longer to finish; I’m looking at you crown molding.”
Here’s the hard truth; it might take years for all of the jobs that were lost to fully recover. In fact, during the 10 recessions since 1950, it took an average of 30 months for lost jobs to finally come back. As the LPL Chart of the Day shows, recoveries have taken much longer lately. In fact, it took four years for the jobs lost during the tech bubble recession of the early 2000s to come back and more than six years for all the jobs lost to come back after the Great Recession. Given many more jobs were lost during this recession, it could takes many years before all of them indeed come back.
(CLICK HERE FOR THE CHART!)
The economy is going the right direction, and if there is no major second wave outbreak it could surprise to the upside. Importantly, this economic recovery will still be a long and bumpy road.

Nasdaq - Russell Spread Pulling the Rubber Band Tight

The Nasdaq has been outperforming every other US-based equity index over the last year, and nowhere has the disparity been wider than with small caps. The chart below compares the performance of the Nasdaq and Russell 2000 over the last 12 months. While the performance disparity is wide now, through last summer, the two indices were tracking each other nearly step for step. Then last fall, the Nasdaq started to steadily pull ahead before really separating itself in the bounce off the March lows. Just to illustrate how wide the gap between the two indices has become, over the last six months, the Nasdaq is up 11.9% compared to a decline of 15.8% for the Russell 2000. That's wide!
(CLICK HERE FOR THE CHART!)
In order to put the recent performance disparity between the two indices into perspective, the chart below shows the rolling six-month performance spread between the two indices going back to 1980. With a current spread of 27.7 percentage points, the gap between the two indices hasn't been this wide since the days of the dot-com boom. Back in February 2000, the spread between the two indices widened out to more than 50 percentage points. Not only was that period extreme, but ten months before that extreme reading, the spread also widened out to more than 51 percentage points. The current spread is wide, but with two separate periods in 1999 and 2000 where the performance gap between the two indices was nearly double the current level, that was a period where the Nasdaq REALLY outperformed small caps.
(CLICK HERE FOR THE CHART!)
To illustrate the magnitude of the Nasdaq's outperformance over the Russell 2000 from late 1998 through early 2000, the chart below shows the performance of the two indices beginning in October 1998. From that point right on through March of 2000 when the Nasdaq peaked, the Nasdaq rallied more than 200% compared to the Russell 2000 which was up a relatively meager 64%. In any other environment, a 64% gain in less than a year and a half would be excellent, but when it was under the shadow of the surging Nasdaq, it seemed like a pittance.
(CLICK HERE FOR THE CHART!)

Share Price Performance

The US equity market made its most recent peak on June 8th. From the March 23rd low through June 8th, the average stock in the large-cap Russell 1,000 was up more than 65%! Since June 8th, the average stock in the index is down more than 11%. Below we have broken the index into deciles (10 groups of 100 stocks each) based on simple share price as of June 8th. Decile 1 (marked "Highest" in the chart) contains the 10% of stocks with the highest share prices. Decile 10 (marked "Lowest" in the chart) contains the 10% of stocks with the lowest share prices. As shown, the highest priced decile of stocks are down an average of just 4.8% since June 8th, while the lowest priced decile of stocks are down an average of 21.5%. It's pretty remarkable how performance gets weaker and weaker the lower the share price gets.
(CLICK HERE FOR THE CHART!)

Nasdaq 2% Pullbacks From Record Highs

It's hard to believe that sentiment can change so fast in the market that one day investors and traders are bidding up stocks to record highs, but then the next day sell them so much that it takes the market down over 2%. That's exactly what happened not only in the last two days but also two weeks ago. While the 5% pullback from a record high back on June 10th took the Nasdaq back below its February high, this time around, the Nasdaq has been able to hold above those February highs.
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In the entire history of the Nasdaq, there have only been 12 periods prior to this week where the Nasdaq closed at an all-time high on one day but dropped more than 2% the next day. Those occurrences are highlighted in the table below along with the index's performance over the following week, month, three months, six months, and one year. We have also highlighted each occurrence that followed a prior one by less than three months in gray. What immediately stands out in the table is how much gray shading there is. In other words, these types of events tend to happen in bunches, and if you count the original occurrence in each of the bunches, the only two occurrences that didn't come within three months of another occurrence (either before or after) were July 1986 and May 2017.
In terms of market performance following prior occurrences, the Nasdaq's average and median returns were generally below average, but there is a pretty big caveat. While the average one-year performance was a gain of 1.0% and a decline of 23.6% on a median basis, the six occurrences that came between December 1999 and March 2000 all essentially cover the same period (which was very bad) and skew the results. Likewise, the three occurrences in the two-month stretch from late November 1998 through January 1999 where the Nasdaq saw strong gains also involves a degree of double-counting. As a result of these performances at either end of the extreme, it's hard to draw any trends from the prior occurrences except to say that they are typically followed by big moves in either direction. The only time the Nasdaq wasn't either 20% higher or lower one year later was in 1986.
(CLICK HERE FOR THE CHART!)

Christmas in July: NASDAQ’s Mid-Year Rally

In the mid-1980s the market began to evolve into a tech-driven market and the market’s focus in early summer shifted to the outlook for second quarter earnings of technology companies. Over the last three trading days of June and the first nine trading days in July, NASDAQ typically enjoys a rally. This 12-day run has been up 27 of the past 35 years with an average historical gain of 2.5%. This year the rally may have begun a day early, today and could last until on or around July 14.
After the bursting of the tech bubble in 2000, NASDAQ’s mid-year rally had a spotty track record from 2002 until 2009 with three appearances and five no-shows in those years. However, it has been quite solid over the last ten years, up nine times with a single mild 0.1% loss in 2015. Last year, NASDAQ advanced a solid 4.6% during the 12-day span.
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Tech Historically Leads Market Higher Until Q3 of Election Years

As of yesterday’s close DJIA was down 8.8% year-to-date. S&P 500 was down 3.5% and NASDAQ was up 12.1%. Compared to the typical election year, DJIA and S&P 500 are below historical average performance while NASDAQ is above average. However this year has not been a typical election year. Due to the covid-19, the market suffered the damage of the shortest bear market on record and a new bull market all before the first half of the year has come to an end.
In the surrounding Seasonal Patten Charts of DJIA, S&P 500 and NASDAQ, we compare 2020 (as of yesterday’s close) to All Years and Election Years. This year’s performance has been plotted on the right vertical axis in each chart. This year certainly has been unlike any other however some notable observations can be made. For DJIA and S&P 500, January, February and approximately half of March have historically been weak, on average, in election years. This year the bear market ended on March 23. Following those past weak starts, DJIA and S&P 500 historically enjoyed strength lasting into September before experiencing any significant pullback followed by a nice yearend rally. NASDAQ’s election year pattern differs somewhat with six fewer years of data, but it does hint to a possible late Q3 peak.
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STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending June 26th, 2020

(CLICK HERE FOR THE YOUTUBE VIDEO!

STOCK MARKET VIDEO: ShadowTrader Video Weekly 6.28.20

(CLICK HERE FOR THE YOUTUBE VIDEO!)
Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
  • $MU
  • $GIS
  • $FDX
  • $CAG
  • $STZ
  • $CPRI
  • $XYF
  • $AYI
  • $MEI
  • $UNF
  • $CDMO
  • $SCHN
  • $LNN
  • $CULP
  • $XELA
  • $KFY
  • $RTIX
  • $JRSH
(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)
(CLICK HERE FOR MOST NOTABLE EARNINGS RELEASES FOR THE NEXT 4 WEEKS!)
Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

Monday 6.29.20 Before Market Open:

([CLICK HERE FOR MONDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Monday 6.29.20 After Market Close:

(CLICK HERE FOR MONDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 6.30.20 Before Market Open:

(CLICK HERE FOR TUESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 6.30.20 After Market Close:

(CLICK HERE FOR TUESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 7.1.20 Before Market Open:

(CLICK HERE FOR WEDNESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 7.1.20 After Market Close:

([CLICK HERE FOR WEDNESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Thursday 7.2.20 Before Market Open:

(CLICK HERE FOR THURSDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 7.2.20 After Market Close:

([CLICK HERE FOR THURSDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Friday 7.3.20 Before Market Open:

([CLICK HERE FOR FRIDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Friday 7.3.20 After Market Close:

([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Micron Technology, Inc. $48.49

Micron Technology, Inc. (MU) is confirmed to report earnings at approximately 4:00 PM ET on Monday, June 29, 2020. The consensus earnings estimate is $0.71 per share on revenue of $5.27 billion and the Earnings Whisper ® number is $0.70 per share. Investor sentiment going into the company's earnings release has 71% expecting an earnings beat The company's guidance was for earnings of $0.40 to $0.70 per share. Consensus estimates are for earnings to decline year-over-year by 29.00% with revenue increasing by 10.07%. Short interest has increased by 7.6% since the company's last earnings release while the stock has drifted higher by 8.0% from its open following the earnings release to be 0.9% below its 200 day moving average of $48.94. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, June 11, 2020 there was some notable buying of 46,037 contracts of the $60.00 call expiring on Friday, July 17, 2020. Option traders are pricing in a 4.6% move on earnings and the stock has averaged a 8.4% move in recent quarters.

(CLICK HERE FOR THE CHART!)

General Mills, Inc. $59.21

General Mills, Inc. (GIS) is confirmed to report earnings at approximately 7:00 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $1.04 per share on revenue of $4.89 billion and the Earnings Whisper ® number is $1.10 per share. Investor sentiment going into the company's earnings release has 69% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 25.30% with revenue increasing by 17.50%. Short interest has decreased by 9.4% since the company's last earnings release while the stock has drifted higher by 2.7% from its open following the earnings release to be 7.8% above its 200 day moving average of $54.91. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, June 24, 2020 there was some notable buying of 8,573 contracts of the $60.00 call expiring on Friday, July 17, 2020. Option traders are pricing in a 6.6% move on earnings and the stock has averaged a 3.0% move in recent quarters.

(CLICK HERE FOR THE CHART!)

FedEx Corp. $130.08

FedEx Corp. (FDX) is confirmed to report earnings at approximately 4:00 PM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $1.42 per share on revenue of $16.31 billion and the Earnings Whisper ® number is $1.65 per share. Investor sentiment going into the company's earnings release has 61% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 71.66% with revenue decreasing by 8.41%. Short interest has increased by 10.4% since the company's last earnings release while the stock has drifted higher by 43.9% from its open following the earnings release to be 7.6% below its 200 day moving average of $140.75. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, June 25, 2020 there was some notable buying of 1,768 contracts of the $145.00 call expiring on Thursday, July 2, 2020. Option traders are pricing in a 4.6% move on earnings and the stock has averaged a 7.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Conagra Brands, Inc. $32.64

Conagra Brands, Inc. (CAG) is confirmed to report earnings at approximately 7:30 AM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $0.66 per share on revenue of $3.24 billion and the Earnings Whisper ® number is $0.69 per share. Investor sentiment going into the company's earnings release has 66% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 83.33% with revenue increasing by 23.99%. Short interest has decreased by 38.3% since the company's last earnings release while the stock has drifted higher by 6.3% from its open following the earnings release to be 6.4% above its 200 day moving average of $30.68. Overall earnings estimates have been revised higher since the company's last earnings release. On Thursday, June 11, 2020 there was some notable buying of 3,239 contracts of the $29.00 put expiring on Thursday, July 2, 2020. Option traders are pricing in a 4.7% move on earnings and the stock has averaged a 10.8% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Constellation Brands, Inc. $168.99

Constellation Brands, Inc. (STZ) is confirmed to report earnings at approximately 7:30 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $1.91 per share on revenue of $1.97 billion and the Earnings Whisper ® number is $2.12 per share. Investor sentiment going into the company's earnings release has 53% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 13.57% with revenue decreasing by 13.69%. Short interest has increased by 20.8% since the company's last earnings release while the stock has drifted higher by 25.2% from its open following the earnings release to be 5.2% below its 200 day moving average of $178.34. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, June 9, 2020 there was some notable buying of 888 contracts of the $195.00 call expiring on Friday, October 16, 2020. Option traders are pricing in a 3.1% move on earnings and the stock has averaged a 5.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Capri Holdings Limited $14.37

Capri Holdings Limited (CPRI) is confirmed to report earnings at approximately 6:30 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $0.32 per share on revenue of $1.18 billion and the Earnings Whisper ® number is $0.34 per share. Investor sentiment going into the company's earnings release has 39% expecting an earnings beat The company's guidance was for earnings of $0.68 to $0.73 per share. Consensus estimates are for earnings to decline year-over-year by 49.21% with revenue decreasing by 12.20%. Short interest has increased by 35.1% since the company's last earnings release while the stock has drifted lower by 56.7% from its open following the earnings release to be 44.0% below its 200 day moving average of $25.67. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, June 4, 2020 there was some notable buying of 11,042 contracts of the $17.50 put expiring on Friday, August 21, 2020. Option traders are pricing in a 10.8% move on earnings and the stock has averaged a 6.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

X Financial $0.92

X Financial (XYF) is confirmed to report earnings at approximately 5:00 PM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $0.09 per share. Investor sentiment going into the company's earnings release has 25% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 55.00% with revenue increasing by 763.52%. Short interest has increased by 1.0% since the company's last earnings release while the stock has drifted lower by 1.2% from its open following the earnings release to be 37.7% below its 200 day moving average of $1.47. Overall earnings estimates have been unchanged since the company's last earnings release. The stock has averaged a 4.9% move on earnings in recent quarters.

(CLICK HERE FOR THE CHART!)

Acuity Brands, Inc. $84.45

Acuity Brands, Inc. (AYI) is confirmed to report earnings at approximately 8:40 AM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $1.14 per share on revenue of $809.25 million and the Earnings Whisper ® number is $1.09 per share. Investor sentiment going into the company's earnings release has 42% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 51.90% with revenue decreasing by 14.60%. Short interest has increased by 48.5% since the company's last earnings release while the stock has drifted higher by 2.4% from its open following the earnings release to be 23.4% below its 200 day moving average of $110.25. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 9.2% move on earnings and the stock has averaged a 8.2% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Methode Electronics, Inc. $30.02

Methode Electronics, Inc. (MEI) is confirmed to report earnings at approximately 7:00 AM ET on Tuesday, June 30, 2020. The consensus earnings estimate is $0.77 per share on revenue of $211.39 million. Investor sentiment going into the company's earnings release has 45% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 24.19% with revenue decreasing by 20.53%. Short interest has increased by 6.2% since the company's last earnings release while the stock has drifted lower by 1.7% from its open following the earnings release to be 9.0% below its 200 day moving average of $32.97. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 18.4% move on earnings and the stock has averaged a 8.1% move in recent quarters.

(CLICK HERE FOR THE CHART!)

UniFirst Corporation $170.54

UniFirst Corporation (UNF) is confirmed to report earnings at approximately 8:00 AM ET on Wednesday, July 1, 2020. The consensus earnings estimate is $1.17 per share on revenue of $378.28 million and the Earnings Whisper ® number is $1.25 per share. Investor sentiment going into the company's earnings release has 44% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 52.44% with revenue decreasing by 16.63%. Short interest has decreased by 2.7% since the company's last earnings release while the stock has drifted higher by 14.1% from its open following the earnings release to be 8.4% below its 200 day moving average of $186.14. Overall earnings estimates have been revised lower since the company's last earnings release. The stock has averaged a 7.0% move on earnings in recent quarters.

(CLICK HERE FOR THE CHART!)

DISCUSS!

What are you all watching for in this upcoming trading week?
I hope you all have a wonderful weekend and a great trading week ahead StockMarket.
submitted by bigbear0083 to StockMarket [link] [comments]

Wall Street Week Ahead for the trading week beginning March 9th, 2020

Good Saturday morning to all of you here on wallstreetbets. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week and month ahead.
Here is everything you need to know to get you ready for the trading week beginning March 9th, 2020.

Wall Street braces for more market volatility as wild swings become the ‘new normal’ amid coronavirus - (Source)

The S&P 500 has never behaved like this, but Wall Street strategists say get used to it.
Investors just witnessed the equity benchmark swinging up or down 2% for four days straight in the face of the coronavirus panic.
In the index’s history dating back to 1927, this is the first time the S&P 500 had a week of alternating gains and losses of more than 2% from Monday through Thursday, according to Bespoke Investment Group. Daily swings like this over a two-week period were only seen at the peak of the financial crisis and in 2011 when U.S. sovereign debt got its first-ever downgrade, the firm said.
“The message to all investors is that they should expect this volatility to continue. This should be considered the new normal going forward,” said Mike Loewengart, managing director of investment strategy at E-Trade.
The Dow Jones Industrial Average jumped north of 1,000 points twice in the past week, only to erase the quadruple-digit gains in the subsequent sessions. The coronavirus outbreak kept investors on edge as global cases of the infections surpassed 100,000. It’s also spreading rapidly in the U.S. California has declared a state of emergency, while the number of cases in New York reached 33.
“Uncertainty breeds greater market volatility,” Keith Lerner, SunTrust’s chief market strategist, said in a note. “Much is still unknown about how severe and widespread the coronavirus will become. From a market perspective, what we are seeing is uncomfortable but somewhat typical after shock periods.”

More stimulus?

So far, the actions from global central banks and governments in response to the outbreak haven’t triggered a sustainable rebound.
The Federal Reserve’s first emergency rate cut since the financial crisis did little to calm investor anxiety. President Donald Trump on Friday signed a sweeping spending bill with an$8.3 billion packageto aid prevention efforts to produce a vaccine for the deadly disease, but stocks extended their heavy rout that day.
“The market is recognizing the global authorities are responding to this,” said Tom Essaye, founder of the Sevens Report. “If the market begins to worry they are not doing that sufficiently, then I think we are going to go down ugly. It is helping stocks hold up.”
Essaye said any further stimulus from China and a decent-sized fiscal package from Germany would be positive to the market, but he doesn’t expect the moves to create a huge rebound.
The fed funds future market is now pricing in the possibility of the U.S. central bank cutting by 75 basis points at its March 17-18 meeting.

Where is the bottom?

Many on Wall Street expect the market to fall further before recovering as the health crisis unfolds.
Binky Chadha, Deutsche Bank’s chief equity strategist, sees a bottom for the S&P 500 in the second quarter after stocks falling as much as 20% from their recent peak.
“The magnitude of the selloff in the S&P 500 so far has further to go; and in terms of duration, just two weeks in, it is much too early to declare this episode as being done,” Chadha said in a note. “We do view the impacts on macro and earnings growth as being relatively short-lived and the market eventually looking through them.”
Deutsche Bank maintained its year-end target of 3,250 for the S&P 500, which would represent a 10% gain from here and a flat return for 2020.
Strategists are also urging patience during this heightened volatility, cautioning against panic selling.
“It is during times like these that investors need to maintain a longer-term perspective and stick to their investment process rather than making knee-jerk, binary decisions,” Brian Belski, chief investment strategist at BMO Capital Markets, said in a note.

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Sector Performance WTD, MTD, YTD:

(CLICK HERE FOR FRIDAY'S PERFORMANCE!)
(CLICK HERE FOR THE WEEK-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE MONTH-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 3-MONTH PERFORMANCE!)
(CLICK HERE FOR THE YEAR-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 52-WEEK PERFORMANCE!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)
(CLICK HERE FOR THE CHART LINK #3!)

A "Run of the Mill" Drawdown

If you're like us, you've heard a lot of people reference the recent equity declines as a sign that the market is pricing in some sort of Armageddon in the US economy. While comments like that make for great soundbites, a little perspective is in order. Since the S&P 500's high on February 19th, the S&P 500 is down 12.8%. In the chart below, we show the S&P 500's annual maximum drawdown by year going back to 1928. In the entire history of the index, the median maximum drawdown from a YTD high is 13.05%. In other words, this year's decline is actually less than normal. Perhaps due to the fact that we have only seen one larger-than-average drawdown in the last eight years is why this one feels so bad.
The fact that the current decline has only been inline with the historical norm raises a number of questions. For example, if the market has already priced in the worst-case scenario, going out and adding some equity exposure would be a no brainer. However, if we're only in the midst of a 'normal' drawdown in the equity market as the coronavirus outbreak threatens to put the economy into a recession, one could argue that things for the stock market could get worse before they get better, especially when we know that the market can be prone to over-reaction in both directions. The fact is that nobody knows right now how this entire outbreak will play out. If it really is a black swan, the market definitely has further to fall and now would present a great opportunity to sell more equities. However, if it proves to be temporary and after a quarter or two resolves itself and the economy gets back on the path it was on at the start of the year, then the magnitude of the current decline is probably appropriate. As they say, that's what makes a market!
(CLICK HERE FOR THE CHART!)

Long-Term Treasuries Go Haywire

Take a good luck at today's moves in long-term US Treasury yields, because chances are you won't see moves of this magnitude again soon. Let's start with the yield on the 30-year US Treasury. Today's decline of 29 basis points in the yield will go down as the largest one-day decline in the yield on the 30-year since 2009. For some perspective, there have only been 25 other days since 1977 where the yield saw a larger one day decline.
(CLICK HERE FOR THE CHART!)
That doesn't even tell the whole story, though. As shown in the chart below, every other time the yield saw a sharper one-day decline, the actual yield of the 30-year was much higher, and in most other cases it was much, much higher.
(CLICK HERE FOR THE CHART!)
To show this another way, the percentage change in the yield on the 30-year has never been seen before, and it's not even close. Now, before the chart crime police come calling, we realize showing a percentage change of a percentage is not the most accurate representation, but we wanted to show this for illustrative purposes only.
(CLICK HERE FOR THE CHART!)
Finally, with long-term interest rates plummetting we wanted to provide an update on the performance of the Austrian 100-year bond. That's now back at record highs, begging the question, why is the US not flooding the market with long-term debt?
(CLICK HERE FOR THE CHART!)

It Doesn't Get Much Worse Than This For Crude Oil

Crude oil prices are down close to 10% today in what is shaping up to be the worst day for crude oil since late 2014. That's more than five years.
(CLICK HERE FOR THE CHART!)
Today's decline is pretty much a continuation of what has been a one-way trade for the commodity ever since the US drone strike on Iranian general Soleimani. The last time prices were this low was around Christmas 2018.
(CLICK HERE FOR THE CHART!)
With today's decline, crude oil is now off to its worst start to a year in a generation falling 32%. Since 1984, the only other year that was worse was 1986 when the year started out with a decline of 50% through March 6th. If you're looking for a bright spot, in 1986, prices rose 36% over the remainder of the year. The only other year where crude oil kicked off the year with a 30% decline was in 1991 after the first Iraq war. Over the remainder of that year, prices rose a more modest 5%.
(CLICK HERE FOR THE CHART!)

10-Year Treasury Yield Breaks Below 1%

Despite strong market gains on Wednesday, March 4, 2020, the on-the-run 10-year Treasury yield ended the day below 1% for the first time ever and has posted additional declines in real time, sitting at 0.92% intraday as this blog is being written. “The decline in yields has been remarkable,” said LPL Research Senior Market Strategist Ryan Detrick. “The 10-year Treasury yield has dipped below 1%, and today’s declines are likely to make the recent run lower the largest decline of the cycle.”
As shown in LPL Research’s chart of the day, the current decline in the 10-year Treasury yield without a meaningful reversal (defined as at least 0.75%) is approaching the decline seen in 2011 and 2012 and would need about another two months to be the longest decline in length of time. At the same time, no prior decline has lasted forever and a pattern of declines and increases has been normal.
(CLICK HERE FOR THE CHART!)
What are some things that can push the 10-year Treasury yield lower?
  • A shrinking but still sizable yield advantage over other developed market sovereign debt
  • Added stock volatility if downside risks to economic growth from the coronavirus increase
  • A larger potential premium over shorter-term yields if the Federal Reserve aggressively cuts interest rates
What are some things that can push the 10-year Treasury yield higher?
  • A second half economic rebound acting a catalyst for a Treasury sell-off
  • As yields move lower, investors may increasingly seek more attractive sources of income
  • Any dollar weakness could lead to some selling by international investors
  • Longer maturity Treasuries are looking like an increasingly crowded trade, potentially adding energy to any sell-off
On balance, our view remains that the prospect of an economic rebound over the second half points to the potential for interest rates moving higher. At the same time, we still see some advantage in the potential diversification benefits of intermediate maturity high-quality bonds, especially during periods of market stress. We continue to recommend that suitable investors consider keeping a bond portfolio’s sensitivity to changes in interest rates below that of the benchmark Bloomberg Barclays U.S. Aggregate Bond Index by emphasizing short to intermediate maturity bonds, but do not believe it’s time to pile into very short maturities despite the 10-year Treasury yield sitting at historically low levels.

U.S. Jobs Growth Marches On

While stock markets continue to be extremely volatile as they come to terms with how the coronavirus may affect global growth, the U.S. job market has remained remarkably robust. Continued U.S. jobs data resilience in the face of headwinds from the coronavirus outbreak may be a key factor in prolonging the expansion, given how important the strength of the U.S. consumer has been late into this expansion.
The U.S. Department of Labor today reported that U.S. nonfarm payroll data had a strong showing of 273,000 jobs added in February, topping the expectation of every Bloomberg-surveyed economist, with an additional upward revision of 85,000 additional jobs for December 2019 and January 2020. This has brought the current unemployment rate back to its 50-year low of 3.5%. So far, it appears it’s too soon for any effects of the coronavirus to have been felt in the jobs numbers. (Note: The survey takes place in the middle of each month.)
On Wednesday, ADP released its private payroll data (excluding government jobs), which increased by 183,000 in February, also handily beating market expectations. Most of these jobs were added in the service sector, with 44,000 added in the leisure and hospitality sector, and another 31,000 in trade/transportation/utilities. Both of these areas could be at risk of potential cutbacks if consumers start to avoid eating out or other leisure pursuits due to coronavirus fears.
As shown in the LPL Chart of the Day, payrolls remain strong, and any effects of the virus outbreaks most likely would be felt in coming months.
(CLICK HERE FOR THE CHART!)
“February’s jobs report shows the 113th straight month that the U.S. jobs market has grown,” said LPL Financial Senior Market Strategist Ryan Detrick. “That’s an incredible run and highlights how the U.S. consumer has become key to extending the expansion, especially given setbacks to global growth from the coronavirus outbreak.”
While there is bound to be some drag on future jobs data from the coronavirus-related slowdown, we would anticipate that the effects of this may be transitory. We believe economic fundamentals continue to suggest the possibility of a second-half-of-the–year economic rebound.

Down January & Down February: S&P 500 Posts Full-Year Gain Just 43.75% of Time

The combination of a down January and a down February has come about 17 times, including this year, going back to 1950. Rest of the year and full-year performance has taken a rather sizable hit following the previous 16 occurrences. March through December S&P 500 average performance drops to 2.32% compared to 7.69% in all years. Full-year performance is even worse with S&P 500 average turning to a loss of 4.91% compared to an average gain of 9.14% in all years. All hope for 2020 is not lost as seven of the 16 past down January and down February years did go on to log gains over the last 10 months and full year while six enjoyed double-digit gains from March to December.
(CLICK HERE FOR THE CHART!)

Take Caution After Emergency Rate Cut

Today’s big rally was an encouraging sign that the markets are becoming more comfortable with the public health, monetary and political handling of the situation. But the history of these “emergency” or “surprise” rate cuts by the Fed between meetings suggest some caution remains in order.
The table here shows that these surprise cuts between meetings have really only “worked” once in the past 20+ years. In 1998 when the Fed and the plunge protection team acted swiftly and in a coordinated manner to stave off the fallout from the financial crisis caused by the collapse of the Russian ruble and the highly leveraged Long Term Capital Management hedge fund markets responded well. This was not the case during the extended bear markets of 2001-2002 and 2007-2009.
Bottom line: if this is a short-term impact like the 1998 financial crisis the market should recover sooner rather than later. But if the economic impact of coronavirus virus is prolonged, the market is more likely to languish.
(CLICK HERE FOR THE CHART!)
Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
  • $ADBE
  • $DKS
  • $AVGO
  • $THO
  • $ULTA
  • $WORK
  • $DG
  • $SFIX
  • $SOGO
  • $DOCU
  • $INO
  • $CLDR
  • $INSG
  • $SOHU
  • $BTAI
  • $ORCL
  • $HEAR
  • $NVAX
  • $ADDYY
  • $GPS
  • $AKBA
  • $PDD
  • $CYOU
  • $FNV
  • $MTNB
  • $NERV
  • $MTN
  • $BEST
  • $PRTY
  • $NINE
  • $AZUL
  • $UNFI
  • $PRPL
  • $VSLR
  • $KLZE
  • $ZUO
  • $DVAX
  • $EXPR
  • $VRA
  • $AXSM
  • $CDMO
  • $CASY
(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)
Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

Monday 3.9.20 Before Market Open:

(CLICK HERE FOR MONDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Monday 3.9.20 After Market Close:

(CLICK HERE FOR MONDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 3.10.20 Before Market Open:

(CLICK HERE FOR TUESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 3.10.20 After Market Close:

(CLICK HERE FOR TUESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 3.11.20 Before Market Open:

(CLICK HERE FOR WEDNESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 3.11.20 After Market Close:

(CLICK HERE FOR WEDNESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 3.12.20 Before Market Open:

(CLICK HERE FOR THURSDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 3.12.20 After Market Close:

(CLICK HERE FOR THURSDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Friday 3.13.20 Before Market Open:

(CLICK HERE FOR FRIDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Friday 3.13.20 After Market Close:

([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Adobe Inc. $336.77

Adobe Inc. (ADBE) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $2.23 per share on revenue of $3.04 billion and the Earnings Whisper ® number is $2.29 per share. Investor sentiment going into the company's earnings release has 81% expecting an earnings beat The company's guidance was for earnings of approximately $2.23 per share. Consensus estimates are for year-over-year earnings growth of 29.65% with revenue increasing by 16.88%. Short interest has decreased by 38.4% since the company's last earnings release while the stock has drifted higher by 7.2% from its open following the earnings release to be 10.9% above its 200 day moving average of $303.70. Overall earnings estimates have been revised higher since the company's last earnings release. On Monday, February 24, 2020 there was some notable buying of 1,109 contracts of the $400.00 call expiring on Friday, March 20, 2020. Option traders are pricing in a 9.3% move on earnings and the stock has averaged a 4.1% move in recent quarters.

(CLICK HERE FOR THE CHART!)

DICK'S Sporting Goods, Inc. $34.98

DICK'S Sporting Goods, Inc. (DKS) is confirmed to report earnings at approximately 7:30 AM ET on Tuesday, March 10, 2020. The consensus earnings estimate is $1.23 per share on revenue of $2.56 billion and the Earnings Whisper ® number is $1.28 per share. Investor sentiment going into the company's earnings release has 57% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 14.95% with revenue increasing by 2.73%. Short interest has decreased by 29.1% since the company's last earnings release while the stock has drifted lower by 20.3% from its open following the earnings release to be 12.0% below its 200 day moving average of $39.75. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, February 26, 2020 there was some notable buying of 848 contracts of the $39.00 put expiring on Friday, March 20, 2020. Option traders are pricing in a 14.4% move on earnings and the stock has averaged a 7.3% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Broadcom Limited $269.45

Broadcom Limited (AVGO) is confirmed to report earnings at approximately 4:15 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $5.34 per share on revenue of $5.93 billion and the Earnings Whisper ® number is $5.45 per share. Investor sentiment going into the company's earnings release has 83% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 5.65% with revenue increasing by 2.44%. Short interest has decreased by 15.6% since the company's last earnings release while the stock has drifted lower by 15.3% from its open following the earnings release to be 7.7% below its 200 day moving average of $291.95. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, February 25, 2020 there was some notable buying of 1,197 contracts of the $260.00 put expiring on Friday, April 17, 2020. Option traders are pricing in a 11.1% move on earnings and the stock has averaged a 4.9% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Thor Industries, Inc. $70.04

Thor Industries, Inc. (THO) is confirmed to report earnings at approximately 6:45 AM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.76 per share on revenue of $1.79 billion and the Earnings Whisper ® number is $0.84 per share. Investor sentiment going into the company's earnings release has 62% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 16.92% with revenue increasing by 38.70%. Short interest has decreased by 12.9% since the company's last earnings release while the stock has drifted higher by 5.4% from its open following the earnings release to be 12.0% above its 200 day moving average of $62.53. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 6.3% move on earnings and the stock has averaged a 8.1% move in recent quarters.

(CLICK HERE FOR THE CHART!)

ULTA Beauty $256.58

ULTA Beauty (ULTA) is confirmed to report earnings at approximately 4:00 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $3.71 per share on revenue of $2.29 billion and the Earnings Whisper ® number is $3.75 per share. Investor sentiment going into the company's earnings release has 73% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 2.77% with revenue increasing by 7.78%. Short interest has increased by 8.7% since the company's last earnings release while the stock has drifted lower by 0.1% from its open following the earnings release to be 9.5% below its 200 day moving average of $283.43. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 15.3% move on earnings and the stock has averaged a 11.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Slack Technologies, Inc. $26.42

Slack Technologies, Inc. (WORK) is confirmed to report earnings at approximately 4:15 PM ET on Thursday, March 12, 2020. The consensus estimate is for a loss of $0.06 per share on revenue of $173.06 million and the Earnings Whisper ® number is ($0.04) per share. Investor sentiment going into the company's earnings release has 67% expecting an earnings beat The company's guidance was for a loss of $0.07 to $0.06 per share on revenue of $172.00 million to $174.00 million. Short interest has increased by 1.2% since the company's last earnings release while the stock has drifted higher by 19.0% from its open following the earnings release. Overall earnings estimates have been revised higher since the company's last earnings release. The stock has averaged a 4.3% move on earnings in recent quarters.

(CLICK HERE FOR THE CHART!)

Dollar General Corporation $158.38

Dollar General Corporation (DG) is confirmed to report earnings at approximately 6:55 AM ET on Thursday, March 12, 2020. The consensus earnings estimate is $2.02 per share on revenue of $7.15 billion and the Earnings Whisper ® number is $2.05 per share. Investor sentiment going into the company's earnings release has 76% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 9.78% with revenue increasing by 7.52%. Short interest has increased by 16.2% since the company's last earnings release while the stock has drifted higher by 1.8% from its open following the earnings release to be 5.7% above its 200 day moving average of $149.88. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, February 28, 2020 there was some notable buying of 1,013 contracts of the $182.50 call expiring on Friday, March 20, 2020. Option traders are pricing in a 9.2% move on earnings and the stock has averaged a 5.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Stitch Fix, Inc. $22.78

Stitch Fix, Inc. (SFIX) is confirmed to report earnings at approximately 4:05 PM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.06 per share on revenue of $452.96 million and the Earnings Whisper ® number is $0.09 per share. Investor sentiment going into the company's earnings release has 83% expecting an earnings beat The company's guidance was for revenue of $447.00 million to $455.00 million. Consensus estimates are for earnings to decline year-over-year by 50.00% with revenue increasing by 22.33%. Short interest has decreased by 4.6% since the company's last earnings release while the stock has drifted lower by 16.1% from its open following the earnings release to be 5.1% below its 200 day moving average of $24.01. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, February 19, 2020 there was some notable buying of 4,026 contracts of the $35.00 call expiring on Friday, June 19, 2020. Option traders are pricing in a 28.0% move on earnings and the stock has averaged a 15.2% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Sogou Inc. $3.85

Sogou Inc. (SOGO) is confirmed to report earnings at approximately 4:00 AM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.09 per share on revenue of $303.08 million and the Earnings Whisper ® number is $0.10 per share. Investor sentiment going into the company's earnings release has 58% expecting an earnings beat The company's guidance was for revenue of $290.00 million to $310.00 million. Consensus estimates are for year-over-year earnings growth of 28.57% with revenue increasing by 1.78%. Short interest has increased by 6.6% since the company's last earnings release while the stock has drifted lower by 27.8% from its open following the earnings release to be 15.7% below its 200 day moving average of $4.57. Overall earnings estimates have been revised lower since the company's last earnings release. The stock has averaged a 3.8% move on earnings in recent quarters.

(CLICK HERE FOR THE CHART!)

DocuSign $84.02

DocuSign (DOCU) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $0.05 per share on revenue of $267.44 million and the Earnings Whisper ® number is $0.08 per share. Investor sentiment going into the company's earnings release has 81% expecting an earnings beat The company's guidance was for revenue of $263.00 million to $267.00 million. Consensus estimates are for year-over-year earnings growth of 600.00% with revenue increasing by 33.90%. Short interest has decreased by 37.7% since the company's last earnings release while the stock has drifted higher by 12.1% from its open following the earnings release to be 31.9% above its 200 day moving average of $63.71. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, March 4, 2020 there was some notable buying of 1,698 contracts of the $87.50 call expiring on Friday, March 20, 2020. Option traders are pricing in a 8.5% move on earnings and the stock has averaged a 10.0% move in recent quarters.

(CLICK HERE FOR THE CHART!)

DISCUSS!

What are you all watching for in this upcoming trading week?
I hope you all have a wonderful weekend and a great trading week ahead wallstreetbets.
submitted by bigbear0083 to wallstreetbets [link] [comments]

Wall Street Week Ahead for the trading week beginning March 9th, 2020

Good Saturday morning to all of you here on StockMarket. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week and month ahead.
Here is everything you need to know to get you ready for the trading week beginning March 9th, 2020.

Wall Street braces for more market volatility as wild swings become the ‘new normal’ amid coronavirus - (Source)

The S&P 500 has never behaved like this, but Wall Street strategists say get used to it.
Investors just witnessed the equity benchmark swinging up or down 2% for four days straight in the face of the coronavirus panic.
In the index’s history dating back to 1927, this is the first time the S&P 500 had a week of alternating gains and losses of more than 2% from Monday through Thursday, according to Bespoke Investment Group. Daily swings like this over a two-week period were only seen at the peak of the financial crisis and in 2011 when U.S. sovereign debt got its first-ever downgrade, the firm said.
“The message to all investors is that they should expect this volatility to continue. This should be considered the new normal going forward,” said Mike Loewengart, managing director of investment strategy at E-Trade.
The Dow Jones Industrial Average jumped north of 1,000 points twice in the past week, only to erase the quadruple-digit gains in the subsequent sessions. The coronavirus outbreak kept investors on edge as global cases of the infections surpassed 100,000. It’s also spreading rapidly in the U.S. California has declared a state of emergency, while the number of cases in New York reached 33.
“Uncertainty breeds greater market volatility,” Keith Lerner, SunTrust’s chief market strategist, said in a note. “Much is still unknown about how severe and widespread the coronavirus will become. From a market perspective, what we are seeing is uncomfortable but somewhat typical after shock periods.”

More stimulus?

So far, the actions from global central banks and governments in response to the outbreak haven’t triggered a sustainable rebound.
The Federal Reserve’s first emergency rate cut since the financial crisis did little to calm investor anxiety. President Donald Trump on Friday signed a sweeping spending bill with an$8.3 billion packageto aid prevention efforts to produce a vaccine for the deadly disease, but stocks extended their heavy rout that day.
“The market is recognizing the global authorities are responding to this,” said Tom Essaye, founder of the Sevens Report. “If the market begins to worry they are not doing that sufficiently, then I think we are going to go down ugly. It is helping stocks hold up.”
Essaye said any further stimulus from China and a decent-sized fiscal package from Germany would be positive to the market, but he doesn’t expect the moves to create a huge rebound.
The fed funds future market is now pricing in the possibility of the U.S. central bank cutting by 75 basis points at its March 17-18 meeting.

Where is the bottom?

Many on Wall Street expect the market to fall further before recovering as the health crisis unfolds.
Binky Chadha, Deutsche Bank’s chief equity strategist, sees a bottom for the S&P 500 in the second quarter after stocks falling as much as 20% from their recent peak.
“The magnitude of the selloff in the S&P 500 so far has further to go; and in terms of duration, just two weeks in, it is much too early to declare this episode as being done,” Chadha said in a note. “We do view the impacts on macro and earnings growth as being relatively short-lived and the market eventually looking through them.”
Deutsche Bank maintained its year-end target of 3,250 for the S&P 500, which would represent a 10% gain from here and a flat return for 2020.
Strategists are also urging patience during this heightened volatility, cautioning against panic selling.
“It is during times like these that investors need to maintain a longer-term perspective and stick to their investment process rather than making knee-jerk, binary decisions,” Brian Belski, chief investment strategist at BMO Capital Markets, said in a note.

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Sector Performance WTD, MTD, YTD:

(CLICK HERE FOR FRIDAY'S PERFORMANCE!)
(CLICK HERE FOR THE WEEK-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE MONTH-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 3-MONTH PERFORMANCE!)
(CLICK HERE FOR THE YEAR-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 52-WEEK PERFORMANCE!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)
(CLICK HERE FOR THE CHART LINK #3!)

A "Run of the Mill" Drawdown

If you're like us, you've heard a lot of people reference the recent equity declines as a sign that the market is pricing in some sort of Armageddon in the US economy. While comments like that make for great soundbites, a little perspective is in order. Since the S&P 500's high on February 19th, the S&P 500 is down 12.8%. In the chart below, we show the S&P 500's annual maximum drawdown by year going back to 1928. In the entire history of the index, the median maximum drawdown from a YTD high is 13.05%. In other words, this year's decline is actually less than normal. Perhaps due to the fact that we have only seen one larger-than-average drawdown in the last eight years is why this one feels so bad.
The fact that the current decline has only been inline with the historical norm raises a number of questions. For example, if the market has already priced in the worst-case scenario, going out and adding some equity exposure would be a no brainer. However, if we're only in the midst of a 'normal' drawdown in the equity market as the coronavirus outbreak threatens to put the economy into a recession, one could argue that things for the stock market could get worse before they get better, especially when we know that the market can be prone to over-reaction in both directions. The fact is that nobody knows right now how this entire outbreak will play out. If it really is a black swan, the market definitely has further to fall and now would present a great opportunity to sell more equities. However, if it proves to be temporary and after a quarter or two resolves itself and the economy gets back on the path it was on at the start of the year, then the magnitude of the current decline is probably appropriate. As they say, that's what makes a market!
(CLICK HERE FOR THE CHART!)

Long-Term Treasuries Go Haywire

Take a good luck at today's moves in long-term US Treasury yields, because chances are you won't see moves of this magnitude again soon. Let's start with the yield on the 30-year US Treasury. Today's decline of 29 basis points in the yield will go down as the largest one-day decline in the yield on the 30-year since 2009. For some perspective, there have only been 25 other days since 1977 where the yield saw a larger one day decline.
(CLICK HERE FOR THE CHART!)
That doesn't even tell the whole story, though. As shown in the chart below, every other time the yield saw a sharper one-day decline, the actual yield of the 30-year was much higher, and in most other cases it was much, much higher.
(CLICK HERE FOR THE CHART!)
To show this another way, the percentage change in the yield on the 30-year has never been seen before, and it's not even close. Now, before the chart crime police come calling, we realize showing a percentage change of a percentage is not the most accurate representation, but we wanted to show this for illustrative purposes only.
(CLICK HERE FOR THE CHART!)
Finally, with long-term interest rates plummetting we wanted to provide an update on the performance of the Austrian 100-year bond. That's now back at record highs, begging the question, why is the US not flooding the market with long-term debt?
(CLICK HERE FOR THE CHART!)

It Doesn't Get Much Worse Than This For Crude Oil

Crude oil prices are down close to 10% today in what is shaping up to be the worst day for crude oil since late 2014. That's more than five years.
(CLICK HERE FOR THE CHART!)
Today's decline is pretty much a continuation of what has been a one-way trade for the commodity ever since the US drone strike on Iranian general Soleimani. The last time prices were this low was around Christmas 2018.
(CLICK HERE FOR THE CHART!)
With today's decline, crude oil is now off to its worst start to a year in a generation falling 32%. Since 1984, the only other year that was worse was 1986 when the year started out with a decline of 50% through March 6th. If you're looking for a bright spot, in 1986, prices rose 36% over the remainder of the year. The only other year where crude oil kicked off the year with a 30% decline was in 1991 after the first Iraq war. Over the remainder of that year, prices rose a more modest 5%.
(CLICK HERE FOR THE CHART!)

10-Year Treasury Yield Breaks Below 1%

Despite strong market gains on Wednesday, March 4, 2020, the on-the-run 10-year Treasury yield ended the day below 1% for the first time ever and has posted additional declines in real time, sitting at 0.92% intraday as this blog is being written. “The decline in yields has been remarkable,” said LPL Research Senior Market Strategist Ryan Detrick. “The 10-year Treasury yield has dipped below 1%, and today’s declines are likely to make the recent run lower the largest decline of the cycle.”
As shown in LPL Research’s chart of the day, the current decline in the 10-year Treasury yield without a meaningful reversal (defined as at least 0.75%) is approaching the decline seen in 2011 and 2012 and would need about another two months to be the longest decline in length of time. At the same time, no prior decline has lasted forever and a pattern of declines and increases has been normal.
(CLICK HERE FOR THE CHART!)
What are some things that can push the 10-year Treasury yield lower?
  • A shrinking but still sizable yield advantage over other developed market sovereign debt
  • Added stock volatility if downside risks to economic growth from the coronavirus increase
  • A larger potential premium over shorter-term yields if the Federal Reserve aggressively cuts interest rates
What are some things that can push the 10-year Treasury yield higher?
  • A second half economic rebound acting a catalyst for a Treasury sell-off
  • As yields move lower, investors may increasingly seek more attractive sources of income
  • Any dollar weakness could lead to some selling by international investors
  • Longer maturity Treasuries are looking like an increasingly crowded trade, potentially adding energy to any sell-off
On balance, our view remains that the prospect of an economic rebound over the second half points to the potential for interest rates moving higher. At the same time, we still see some advantage in the potential diversification benefits of intermediate maturity high-quality bonds, especially during periods of market stress. We continue to recommend that suitable investors consider keeping a bond portfolio’s sensitivity to changes in interest rates below that of the benchmark Bloomberg Barclays U.S. Aggregate Bond Index by emphasizing short to intermediate maturity bonds, but do not believe it’s time to pile into very short maturities despite the 10-year Treasury yield sitting at historically low levels.

U.S. Jobs Growth Marches On

While stock markets continue to be extremely volatile as they come to terms with how the coronavirus may affect global growth, the U.S. job market has remained remarkably robust. Continued U.S. jobs data resilience in the face of headwinds from the coronavirus outbreak may be a key factor in prolonging the expansion, given how important the strength of the U.S. consumer has been late into this expansion.
The U.S. Department of Labor today reported that U.S. nonfarm payroll data had a strong showing of 273,000 jobs added in February, topping the expectation of every Bloomberg-surveyed economist, with an additional upward revision of 85,000 additional jobs for December 2019 and January 2020. This has brought the current unemployment rate back to its 50-year low of 3.5%. So far, it appears it’s too soon for any effects of the coronavirus to have been felt in the jobs numbers. (Note: The survey takes place in the middle of each month.)
On Wednesday, ADP released its private payroll data (excluding government jobs), which increased by 183,000 in February, also handily beating market expectations. Most of these jobs were added in the service sector, with 44,000 added in the leisure and hospitality sector, and another 31,000 in trade/transportation/utilities. Both of these areas could be at risk of potential cutbacks if consumers start to avoid eating out or other leisure pursuits due to coronavirus fears.
As shown in the LPL Chart of the Day, payrolls remain strong, and any effects of the virus outbreaks most likely would be felt in coming months.
(CLICK HERE FOR THE CHART!)
“February’s jobs report shows the 113th straight month that the U.S. jobs market has grown,” said LPL Financial Senior Market Strategist Ryan Detrick. “That’s an incredible run and highlights how the U.S. consumer has become key to extending the expansion, especially given setbacks to global growth from the coronavirus outbreak.”
While there is bound to be some drag on future jobs data from the coronavirus-related slowdown, we would anticipate that the effects of this may be transitory. We believe economic fundamentals continue to suggest the possibility of a second-half-of-the–year economic rebound.

Down January & Down February: S&P 500 Posts Full-Year Gain Just 43.75% of Time

The combination of a down January and a down February has come about 17 times, including this year, going back to 1950. Rest of the year and full-year performance has taken a rather sizable hit following the previous 16 occurrences. March through December S&P 500 average performance drops to 2.32% compared to 7.69% in all years. Full-year performance is even worse with S&P 500 average turning to a loss of 4.91% compared to an average gain of 9.14% in all years. All hope for 2020 is not lost as seven of the 16 past down January and down February years did go on to log gains over the last 10 months and full year while six enjoyed double-digit gains from March to December.
(CLICK HERE FOR THE CHART!)

Take Caution After Emergency Rate Cut

Today’s big rally was an encouraging sign that the markets are becoming more comfortable with the public health, monetary and political handling of the situation. But the history of these “emergency” or “surprise” rate cuts by the Fed between meetings suggest some caution remains in order.
The table here shows that these surprise cuts between meetings have really only “worked” once in the past 20+ years. In 1998 when the Fed and the plunge protection team acted swiftly and in a coordinated manner to stave off the fallout from the financial crisis caused by the collapse of the Russian ruble and the highly leveraged Long Term Capital Management hedge fund markets responded well. This was not the case during the extended bear markets of 2001-2002 and 2007-2009.
Bottom line: if this is a short-term impact like the 1998 financial crisis the market should recover sooner rather than later. But if the economic impact of coronavirus virus is prolonged, the market is more likely to languish.
(CLICK HERE FOR THE CHART!)

STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending March 6th, 2020

(CLICK HERE FOR THE YOUTUBE VIDEO!)

STOCK MARKET VIDEO: ShadowTrader Video Weekly 3.8.20

(CLICK HERE FOR THE YOUTUBE VIDEO!)
Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
  • $ADBE
  • $DKS
  • $AVGO
  • $THO
  • $ULTA
  • $WORK
  • $DG
  • $SFIX
  • $SOGO
  • $DOCU
  • $INO
  • $CLDR
  • $INSG
  • $SOHU
  • $BTAI
  • $ORCL
  • $HEAR
  • $NVAX
  • $ADDYY
  • $GPS
  • $AKBA
  • $PDD
  • $CYOU
  • $FNV
  • $MTNB
  • $NERV
  • $MTN
  • $BEST
  • $PRTY
  • $NINE
  • $AZUL
  • $UNFI
  • $PRPL
  • $VSLR
  • $KLZE
  • $ZUO
  • $DVAX
  • $EXPR
  • $VRA
  • $AXSM
  • $CDMO
  • $CASY
(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)
Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

Monday 3.9.20 Before Market Open:

(CLICK HERE FOR MONDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Monday 3.9.20 After Market Close:

(CLICK HERE FOR MONDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 3.10.20 Before Market Open:

(CLICK HERE FOR TUESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 3.10.20 After Market Close:

(CLICK HERE FOR TUESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 3.11.20 Before Market Open:

(CLICK HERE FOR WEDNESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 3.11.20 After Market Close:

(CLICK HERE FOR WEDNESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 3.12.20 Before Market Open:

(CLICK HERE FOR THURSDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 3.12.20 After Market Close:

(CLICK HERE FOR THURSDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Friday 3.13.20 Before Market Open:

(CLICK HERE FOR FRIDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Friday 3.13.20 After Market Close:

([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Adobe Inc. $336.77

Adobe Inc. (ADBE) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $2.23 per share on revenue of $3.04 billion and the Earnings Whisper ® number is $2.29 per share. Investor sentiment going into the company's earnings release has 81% expecting an earnings beat The company's guidance was for earnings of approximately $2.23 per share. Consensus estimates are for year-over-year earnings growth of 29.65% with revenue increasing by 16.88%. Short interest has decreased by 38.4% since the company's last earnings release while the stock has drifted higher by 7.2% from its open following the earnings release to be 10.9% above its 200 day moving average of $303.70. Overall earnings estimates have been revised higher since the company's last earnings release. On Monday, February 24, 2020 there was some notable buying of 1,109 contracts of the $400.00 call expiring on Friday, March 20, 2020. Option traders are pricing in a 9.3% move on earnings and the stock has averaged a 4.1% move in recent quarters.

(CLICK HERE FOR THE CHART!)

DICK'S Sporting Goods, Inc. $34.98

DICK'S Sporting Goods, Inc. (DKS) is confirmed to report earnings at approximately 7:30 AM ET on Tuesday, March 10, 2020. The consensus earnings estimate is $1.23 per share on revenue of $2.56 billion and the Earnings Whisper ® number is $1.28 per share. Investor sentiment going into the company's earnings release has 57% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 14.95% with revenue increasing by 2.73%. Short interest has decreased by 29.1% since the company's last earnings release while the stock has drifted lower by 20.3% from its open following the earnings release to be 12.0% below its 200 day moving average of $39.75. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, February 26, 2020 there was some notable buying of 848 contracts of the $39.00 put expiring on Friday, March 20, 2020. Option traders are pricing in a 14.4% move on earnings and the stock has averaged a 7.3% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Broadcom Limited $269.45

Broadcom Limited (AVGO) is confirmed to report earnings at approximately 4:15 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $5.34 per share on revenue of $5.93 billion and the Earnings Whisper ® number is $5.45 per share. Investor sentiment going into the company's earnings release has 83% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 5.65% with revenue increasing by 2.44%. Short interest has decreased by 15.6% since the company's last earnings release while the stock has drifted lower by 15.3% from its open following the earnings release to be 7.7% below its 200 day moving average of $291.95. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, February 25, 2020 there was some notable buying of 1,197 contracts of the $260.00 put expiring on Friday, April 17, 2020. Option traders are pricing in a 11.1% move on earnings and the stock has averaged a 4.9% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Thor Industries, Inc. $70.04

Thor Industries, Inc. (THO) is confirmed to report earnings at approximately 6:45 AM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.76 per share on revenue of $1.79 billion and the Earnings Whisper ® number is $0.84 per share. Investor sentiment going into the company's earnings release has 62% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 16.92% with revenue increasing by 38.70%. Short interest has decreased by 12.9% since the company's last earnings release while the stock has drifted higher by 5.4% from its open following the earnings release to be 12.0% above its 200 day moving average of $62.53. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 6.3% move on earnings and the stock has averaged a 8.1% move in recent quarters.

(CLICK HERE FOR THE CHART!)

ULTA Beauty $256.58

ULTA Beauty (ULTA) is confirmed to report earnings at approximately 4:00 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $3.71 per share on revenue of $2.29 billion and the Earnings Whisper ® number is $3.75 per share. Investor sentiment going into the company's earnings release has 73% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 2.77% with revenue increasing by 7.78%. Short interest has increased by 8.7% since the company's last earnings release while the stock has drifted lower by 0.1% from its open following the earnings release to be 9.5% below its 200 day moving average of $283.43. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 15.3% move on earnings and the stock has averaged a 11.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Slack Technologies, Inc. $26.42

Slack Technologies, Inc. (WORK) is confirmed to report earnings at approximately 4:15 PM ET on Thursday, March 12, 2020. The consensus estimate is for a loss of $0.06 per share on revenue of $173.06 million and the Earnings Whisper ® number is ($0.04) per share. Investor sentiment going into the company's earnings release has 67% expecting an earnings beat The company's guidance was for a loss of $0.07 to $0.06 per share on revenue of $172.00 million to $174.00 million. Short interest has increased by 1.2% since the company's last earnings release while the stock has drifted higher by 19.0% from its open following the earnings release. Overall earnings estimates have been revised higher since the company's last earnings release. The stock has averaged a 4.3% move on earnings in recent quarters.

(CLICK HERE FOR THE CHART!)

Dollar General Corporation $158.38

Dollar General Corporation (DG) is confirmed to report earnings at approximately 6:55 AM ET on Thursday, March 12, 2020. The consensus earnings estimate is $2.02 per share on revenue of $7.15 billion and the Earnings Whisper ® number is $2.05 per share. Investor sentiment going into the company's earnings release has 76% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 9.78% with revenue increasing by 7.52%. Short interest has increased by 16.2% since the company's last earnings release while the stock has drifted higher by 1.8% from its open following the earnings release to be 5.7% above its 200 day moving average of $149.88. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, February 28, 2020 there was some notable buying of 1,013 contracts of the $182.50 call expiring on Friday, March 20, 2020. Option traders are pricing in a 9.2% move on earnings and the stock has averaged a 5.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Stitch Fix, Inc. $22.78

Stitch Fix, Inc. (SFIX) is confirmed to report earnings at approximately 4:05 PM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.06 per share on revenue of $452.96 million and the Earnings Whisper ® number is $0.09 per share. Investor sentiment going into the company's earnings release has 83% expecting an earnings beat The company's guidance was for revenue of $447.00 million to $455.00 million. Consensus estimates are for earnings to decline year-over-year by 50.00% with revenue increasing by 22.33%. Short interest has decreased by 4.6% since the company's last earnings release while the stock has drifted lower by 16.1% from its open following the earnings release to be 5.1% below its 200 day moving average of $24.01. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, February 19, 2020 there was some notable buying of 4,026 contracts of the $35.00 call expiring on Friday, June 19, 2020. Option traders are pricing in a 28.0% move on earnings and the stock has averaged a 15.2% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Sogou Inc. $3.85

Sogou Inc. (SOGO) is confirmed to report earnings at approximately 4:00 AM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.09 per share on revenue of $303.08 million and the Earnings Whisper ® number is $0.10 per share. Investor sentiment going into the company's earnings release has 58% expecting an earnings beat The company's guidance was for revenue of $290.00 million to $310.00 million. Consensus estimates are for year-over-year earnings growth of 28.57% with revenue increasing by 1.78%. Short interest has increased by 6.6% since the company's last earnings release while the stock has drifted lower by 27.8% from its open following the earnings release to be 15.7% below its 200 day moving average of $4.57. Overall earnings estimates have been revised lower since the company's last earnings release. The stock has averaged a 3.8% move on earnings in recent quarters.

(CLICK HERE FOR THE CHART!)

DocuSign $84.02

DocuSign (DOCU) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $0.05 per share on revenue of $267.44 million and the Earnings Whisper ® number is $0.08 per share. Investor sentiment going into the company's earnings release has 81% expecting an earnings beat The company's guidance was for revenue of $263.00 million to $267.00 million. Consensus estimates are for year-over-year earnings growth of 600.00% with revenue increasing by 33.90%. Short interest has decreased by 37.7% since the company's last earnings release while the stock has drifted higher by 12.1% from its open following the earnings release to be 31.9% above its 200 day moving average of $63.71. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, March 4, 2020 there was some notable buying of 1,698 contracts of the $87.50 call expiring on Friday, March 20, 2020. Option traders are pricing in a 8.5% move on earnings and the stock has averaged a 10.0% move in recent quarters.

(CLICK HERE FOR THE CHART!)

DISCUSS!

What are you all watching for in this upcoming trading week?
I hope you all have a wonderful weekend and a great trading week ahead StockMarket.
submitted by bigbear0083 to StockMarket [link] [comments]

Wall Street Week Ahead for the trading week beginning March 9th, 2020

Good Saturday morning to all of you here on stocks. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week and month ahead.
Here is everything you need to know to get you ready for the trading week beginning March 9th, 2020.

Wall Street braces for more market volatility as wild swings become the ‘new normal’ amid coronavirus - (Source)

The S&P 500 has never behaved like this, but Wall Street strategists say get used to it.
Investors just witnessed the equity benchmark swinging up or down 2% for four days straight in the face of the coronavirus panic.
In the index’s history dating back to 1927, this is the first time the S&P 500 had a week of alternating gains and losses of more than 2% from Monday through Thursday, according to Bespoke Investment Group. Daily swings like this over a two-week period were only seen at the peak of the financial crisis and in 2011 when U.S. sovereign debt got its first-ever downgrade, the firm said.
“The message to all investors is that they should expect this volatility to continue. This should be considered the new normal going forward,” said Mike Loewengart, managing director of investment strategy at E-Trade.
The Dow Jones Industrial Average jumped north of 1,000 points twice in the past week, only to erase the quadruple-digit gains in the subsequent sessions. The coronavirus outbreak kept investors on edge as global cases of the infections surpassed 100,000. It’s also spreading rapidly in the U.S. California has declared a state of emergency, while the number of cases in New York reached 33.
“Uncertainty breeds greater market volatility,” Keith Lerner, SunTrust’s chief market strategist, said in a note. “Much is still unknown about how severe and widespread the coronavirus will become. From a market perspective, what we are seeing is uncomfortable but somewhat typical after shock periods.”

More stimulus?

So far, the actions from global central banks and governments in response to the outbreak haven’t triggered a sustainable rebound.
The Federal Reserve’s first emergency rate cut since the financial crisis did little to calm investor anxiety. President Donald Trump on Friday signed a sweeping spending bill with an$8.3 billion packageto aid prevention efforts to produce a vaccine for the deadly disease, but stocks extended their heavy rout that day.
“The market is recognizing the global authorities are responding to this,” said Tom Essaye, founder of the Sevens Report. “If the market begins to worry they are not doing that sufficiently, then I think we are going to go down ugly. It is helping stocks hold up.”
Essaye said any further stimulus from China and a decent-sized fiscal package from Germany would be positive to the market, but he doesn’t expect the moves to create a huge rebound.
The fed funds future market is now pricing in the possibility of the U.S. central bank cutting by 75 basis points at its March 17-18 meeting.

Where is the bottom?

Many on Wall Street expect the market to fall further before recovering as the health crisis unfolds.
Binky Chadha, Deutsche Bank’s chief equity strategist, sees a bottom for the S&P 500 in the second quarter after stocks falling as much as 20% from their recent peak.
“The magnitude of the selloff in the S&P 500 so far has further to go; and in terms of duration, just two weeks in, it is much too early to declare this episode as being done,” Chadha said in a note. “We do view the impacts on macro and earnings growth as being relatively short-lived and the market eventually looking through them.”
Deutsche Bank maintained its year-end target of 3,250 for the S&P 500, which would represent a 10% gain from here and a flat return for 2020.
Strategists are also urging patience during this heightened volatility, cautioning against panic selling.
“It is during times like these that investors need to maintain a longer-term perspective and stick to their investment process rather than making knee-jerk, binary decisions,” Brian Belski, chief investment strategist at BMO Capital Markets, said in a note.

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Sector Performance WTD, MTD, YTD:

(CLICK HERE FOR FRIDAY'S PERFORMANCE!)
(CLICK HERE FOR THE WEEK-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE MONTH-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 3-MONTH PERFORMANCE!)
(CLICK HERE FOR THE YEAR-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 52-WEEK PERFORMANCE!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)
(CLICK HERE FOR THE CHART LINK #3!)

A "Run of the Mill" Drawdown

If you're like us, you've heard a lot of people reference the recent equity declines as a sign that the market is pricing in some sort of Armageddon in the US economy. While comments like that make for great soundbites, a little perspective is in order. Since the S&P 500's high on February 19th, the S&P 500 is down 12.8%. In the chart below, we show the S&P 500's annual maximum drawdown by year going back to 1928. In the entire history of the index, the median maximum drawdown from a YTD high is 13.05%. In other words, this year's decline is actually less than normal. Perhaps due to the fact that we have only seen one larger-than-average drawdown in the last eight years is why this one feels so bad.
The fact that the current decline has only been inline with the historical norm raises a number of questions. For example, if the market has already priced in the worst-case scenario, going out and adding some equity exposure would be a no brainer. However, if we're only in the midst of a 'normal' drawdown in the equity market as the coronavirus outbreak threatens to put the economy into a recession, one could argue that things for the stock market could get worse before they get better, especially when we know that the market can be prone to over-reaction in both directions. The fact is that nobody knows right now how this entire outbreak will play out. If it really is a black swan, the market definitely has further to fall and now would present a great opportunity to sell more equities. However, if it proves to be temporary and after a quarter or two resolves itself and the economy gets back on the path it was on at the start of the year, then the magnitude of the current decline is probably appropriate. As they say, that's what makes a market!
(CLICK HERE FOR THE CHART!)

Long-Term Treasuries Go Haywire

Take a good luck at today's moves in long-term US Treasury yields, because chances are you won't see moves of this magnitude again soon. Let's start with the yield on the 30-year US Treasury. Today's decline of 29 basis points in the yield will go down as the largest one-day decline in the yield on the 30-year since 2009. For some perspective, there have only been 25 other days since 1977 where the yield saw a larger one day decline.
(CLICK HERE FOR THE CHART!)
That doesn't even tell the whole story, though. As shown in the chart below, every other time the yield saw a sharper one-day decline, the actual yield of the 30-year was much higher, and in most other cases it was much, much higher.
(CLICK HERE FOR THE CHART!)
To show this another way, the percentage change in the yield on the 30-year has never been seen before, and it's not even close. Now, before the chart crime police come calling, we realize showing a percentage change of a percentage is not the most accurate representation, but we wanted to show this for illustrative purposes only.
(CLICK HERE FOR THE CHART!)
Finally, with long-term interest rates plummetting we wanted to provide an update on the performance of the Austrian 100-year bond. That's now back at record highs, begging the question, why is the US not flooding the market with long-term debt?
(CLICK HERE FOR THE CHART!)

It Doesn't Get Much Worse Than This For Crude Oil

Crude oil prices are down close to 10% today in what is shaping up to be the worst day for crude oil since late 2014. That's more than five years.
(CLICK HERE FOR THE CHART!)
Today's decline is pretty much a continuation of what has been a one-way trade for the commodity ever since the US drone strike on Iranian general Soleimani. The last time prices were this low was around Christmas 2018.
(CLICK HERE FOR THE CHART!)
With today's decline, crude oil is now off to its worst start to a year in a generation falling 32%. Since 1984, the only other year that was worse was 1986 when the year started out with a decline of 50% through March 6th. If you're looking for a bright spot, in 1986, prices rose 36% over the remainder of the year. The only other year where crude oil kicked off the year with a 30% decline was in 1991 after the first Iraq war. Over the remainder of that year, prices rose a more modest 5%.
(CLICK HERE FOR THE CHART!)

10-Year Treasury Yield Breaks Below 1%

Despite strong market gains on Wednesday, March 4, 2020, the on-the-run 10-year Treasury yield ended the day below 1% for the first time ever and has posted additional declines in real time, sitting at 0.92% intraday as this blog is being written. “The decline in yields has been remarkable,” said LPL Research Senior Market Strategist Ryan Detrick. “The 10-year Treasury yield has dipped below 1%, and today’s declines are likely to make the recent run lower the largest decline of the cycle.”
As shown in LPL Research’s chart of the day, the current decline in the 10-year Treasury yield without a meaningful reversal (defined as at least 0.75%) is approaching the decline seen in 2011 and 2012 and would need about another two months to be the longest decline in length of time. At the same time, no prior decline has lasted forever and a pattern of declines and increases has been normal.
(CLICK HERE FOR THE CHART!)
What are some things that can push the 10-year Treasury yield lower?
  • A shrinking but still sizable yield advantage over other developed market sovereign debt
  • Added stock volatility if downside risks to economic growth from the coronavirus increase
  • A larger potential premium over shorter-term yields if the Federal Reserve aggressively cuts interest rates
What are some things that can push the 10-year Treasury yield higher?
  • A second half economic rebound acting a catalyst for a Treasury sell-off
  • As yields move lower, investors may increasingly seek more attractive sources of income
  • Any dollar weakness could lead to some selling by international investors
  • Longer maturity Treasuries are looking like an increasingly crowded trade, potentially adding energy to any sell-off
On balance, our view remains that the prospect of an economic rebound over the second half points to the potential for interest rates moving higher. At the same time, we still see some advantage in the potential diversification benefits of intermediate maturity high-quality bonds, especially during periods of market stress. We continue to recommend that suitable investors consider keeping a bond portfolio’s sensitivity to changes in interest rates below that of the benchmark Bloomberg Barclays U.S. Aggregate Bond Index by emphasizing short to intermediate maturity bonds, but do not believe it’s time to pile into very short maturities despite the 10-year Treasury yield sitting at historically low levels.

U.S. Jobs Growth Marches On

While stock markets continue to be extremely volatile as they come to terms with how the coronavirus may affect global growth, the U.S. job market has remained remarkably robust. Continued U.S. jobs data resilience in the face of headwinds from the coronavirus outbreak may be a key factor in prolonging the expansion, given how important the strength of the U.S. consumer has been late into this expansion.
The U.S. Department of Labor today reported that U.S. nonfarm payroll data had a strong showing of 273,000 jobs added in February, topping the expectation of every Bloomberg-surveyed economist, with an additional upward revision of 85,000 additional jobs for December 2019 and January 2020. This has brought the current unemployment rate back to its 50-year low of 3.5%. So far, it appears it’s too soon for any effects of the coronavirus to have been felt in the jobs numbers. (Note: The survey takes place in the middle of each month.)
On Wednesday, ADP released its private payroll data (excluding government jobs), which increased by 183,000 in February, also handily beating market expectations. Most of these jobs were added in the service sector, with 44,000 added in the leisure and hospitality sector, and another 31,000 in trade/transportation/utilities. Both of these areas could be at risk of potential cutbacks if consumers start to avoid eating out or other leisure pursuits due to coronavirus fears.
As shown in the LPL Chart of the Day, payrolls remain strong, and any effects of the virus outbreaks most likely would be felt in coming months.
(CLICK HERE FOR THE CHART!)
“February’s jobs report shows the 113th straight month that the U.S. jobs market has grown,” said LPL Financial Senior Market Strategist Ryan Detrick. “That’s an incredible run and highlights how the U.S. consumer has become key to extending the expansion, especially given setbacks to global growth from the coronavirus outbreak.”
While there is bound to be some drag on future jobs data from the coronavirus-related slowdown, we would anticipate that the effects of this may be transitory. We believe economic fundamentals continue to suggest the possibility of a second-half-of-the–year economic rebound.

Down January & Down February: S&P 500 Posts Full-Year Gain Just 43.75% of Time

The combination of a down January and a down February has come about 17 times, including this year, going back to 1950. Rest of the year and full-year performance has taken a rather sizable hit following the previous 16 occurrences. March through December S&P 500 average performance drops to 2.32% compared to 7.69% in all years. Full-year performance is even worse with S&P 500 average turning to a loss of 4.91% compared to an average gain of 9.14% in all years. All hope for 2020 is not lost as seven of the 16 past down January and down February years did go on to log gains over the last 10 months and full year while six enjoyed double-digit gains from March to December.
(CLICK HERE FOR THE CHART!)

Take Caution After Emergency Rate Cut

Today’s big rally was an encouraging sign that the markets are becoming more comfortable with the public health, monetary and political handling of the situation. But the history of these “emergency” or “surprise” rate cuts by the Fed between meetings suggest some caution remains in order.
The table here shows that these surprise cuts between meetings have really only “worked” once in the past 20+ years. In 1998 when the Fed and the plunge protection team acted swiftly and in a coordinated manner to stave off the fallout from the financial crisis caused by the collapse of the Russian ruble and the highly leveraged Long Term Capital Management hedge fund markets responded well. This was not the case during the extended bear markets of 2001-2002 and 2007-2009.
Bottom line: if this is a short-term impact like the 1998 financial crisis the market should recover sooner rather than later. But if the economic impact of coronavirus virus is prolonged, the market is more likely to languish.
(CLICK HERE FOR THE CHART!)
Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
  • $ADBE
  • $DKS
  • $AVGO
  • $THO
  • $ULTA
  • $WORK
  • $DG
  • $SFIX
  • $SOGO
  • $DOCU
  • $INO
  • $CLDR
  • $INSG
  • $SOHU
  • $BTAI
  • $ORCL
  • $HEAR
  • $NVAX
  • $ADDYY
  • $GPS
  • $AKBA
  • $PDD
  • $CYOU
  • $FNV
  • $MTNB
  • $NERV
  • $MTN
  • $BEST
  • $PRTY
  • $NINE
  • $AZUL
  • $UNFI
  • $PRPL
  • $VSLR
  • $KLZE
  • $ZUO
  • $DVAX
  • $EXPR
  • $VRA
  • $AXSM
  • $CDMO
  • $CASY
(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)
Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

Monday 3.9.20 Before Market Open:

(CLICK HERE FOR MONDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Monday 3.9.20 After Market Close:

(CLICK HERE FOR MONDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 3.10.20 Before Market Open:

(CLICK HERE FOR TUESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Tuesday 3.10.20 After Market Close:

(CLICK HERE FOR TUESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 3.11.20 Before Market Open:

(CLICK HERE FOR WEDNESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Wednesday 3.11.20 After Market Close:

(CLICK HERE FOR WEDNESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 3.12.20 Before Market Open:

(CLICK HERE FOR THURSDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Thursday 3.12.20 After Market Close:

(CLICK HERE FOR THURSDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!)

Friday 3.13.20 Before Market Open:

(CLICK HERE FOR FRIDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Friday 3.13.20 After Market Close:

([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Adobe Inc. $336.77

Adobe Inc. (ADBE) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $2.23 per share on revenue of $3.04 billion and the Earnings Whisper ® number is $2.29 per share. Investor sentiment going into the company's earnings release has 81% expecting an earnings beat The company's guidance was for earnings of approximately $2.23 per share. Consensus estimates are for year-over-year earnings growth of 29.65% with revenue increasing by 16.88%. Short interest has decreased by 38.4% since the company's last earnings release while the stock has drifted higher by 7.2% from its open following the earnings release to be 10.9% above its 200 day moving average of $303.70. Overall earnings estimates have been revised higher since the company's last earnings release. On Monday, February 24, 2020 there was some notable buying of 1,109 contracts of the $400.00 call expiring on Friday, March 20, 2020. Option traders are pricing in a 9.3% move on earnings and the stock has averaged a 4.1% move in recent quarters.

(CLICK HERE FOR THE CHART!)

DICK'S Sporting Goods, Inc. $34.98

DICK'S Sporting Goods, Inc. (DKS) is confirmed to report earnings at approximately 7:30 AM ET on Tuesday, March 10, 2020. The consensus earnings estimate is $1.23 per share on revenue of $2.56 billion and the Earnings Whisper ® number is $1.28 per share. Investor sentiment going into the company's earnings release has 57% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 14.95% with revenue increasing by 2.73%. Short interest has decreased by 29.1% since the company's last earnings release while the stock has drifted lower by 20.3% from its open following the earnings release to be 12.0% below its 200 day moving average of $39.75. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, February 26, 2020 there was some notable buying of 848 contracts of the $39.00 put expiring on Friday, March 20, 2020. Option traders are pricing in a 14.4% move on earnings and the stock has averaged a 7.3% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Broadcom Limited $269.45

Broadcom Limited (AVGO) is confirmed to report earnings at approximately 4:15 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $5.34 per share on revenue of $5.93 billion and the Earnings Whisper ® number is $5.45 per share. Investor sentiment going into the company's earnings release has 83% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 5.65% with revenue increasing by 2.44%. Short interest has decreased by 15.6% since the company's last earnings release while the stock has drifted lower by 15.3% from its open following the earnings release to be 7.7% below its 200 day moving average of $291.95. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, February 25, 2020 there was some notable buying of 1,197 contracts of the $260.00 put expiring on Friday, April 17, 2020. Option traders are pricing in a 11.1% move on earnings and the stock has averaged a 4.9% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Thor Industries, Inc. $70.04

Thor Industries, Inc. (THO) is confirmed to report earnings at approximately 6:45 AM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.76 per share on revenue of $1.79 billion and the Earnings Whisper ® number is $0.84 per share. Investor sentiment going into the company's earnings release has 62% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 16.92% with revenue increasing by 38.70%. Short interest has decreased by 12.9% since the company's last earnings release while the stock has drifted higher by 5.4% from its open following the earnings release to be 12.0% above its 200 day moving average of $62.53. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 6.3% move on earnings and the stock has averaged a 8.1% move in recent quarters.

(CLICK HERE FOR THE CHART!)

ULTA Beauty $256.58

ULTA Beauty (ULTA) is confirmed to report earnings at approximately 4:00 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $3.71 per share on revenue of $2.29 billion and the Earnings Whisper ® number is $3.75 per share. Investor sentiment going into the company's earnings release has 73% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 2.77% with revenue increasing by 7.78%. Short interest has increased by 8.7% since the company's last earnings release while the stock has drifted lower by 0.1% from its open following the earnings release to be 9.5% below its 200 day moving average of $283.43. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 15.3% move on earnings and the stock has averaged a 11.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Slack Technologies, Inc. $26.42

Slack Technologies, Inc. (WORK) is confirmed to report earnings at approximately 4:15 PM ET on Thursday, March 12, 2020. The consensus estimate is for a loss of $0.06 per share on revenue of $173.06 million and the Earnings Whisper ® number is ($0.04) per share. Investor sentiment going into the company's earnings release has 67% expecting an earnings beat The company's guidance was for a loss of $0.07 to $0.06 per share on revenue of $172.00 million to $174.00 million. Short interest has increased by 1.2% since the company's last earnings release while the stock has drifted higher by 19.0% from its open following the earnings release. Overall earnings estimates have been revised higher since the company's last earnings release. The stock has averaged a 4.3% move on earnings in recent quarters.

(CLICK HERE FOR THE CHART!)

Dollar General Corporation $158.38

Dollar General Corporation (DG) is confirmed to report earnings at approximately 6:55 AM ET on Thursday, March 12, 2020. The consensus earnings estimate is $2.02 per share on revenue of $7.15 billion and the Earnings Whisper ® number is $2.05 per share. Investor sentiment going into the company's earnings release has 76% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 9.78% with revenue increasing by 7.52%. Short interest has increased by 16.2% since the company's last earnings release while the stock has drifted higher by 1.8% from its open following the earnings release to be 5.7% above its 200 day moving average of $149.88. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, February 28, 2020 there was some notable buying of 1,013 contracts of the $182.50 call expiring on Friday, March 20, 2020. Option traders are pricing in a 9.2% move on earnings and the stock has averaged a 5.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Stitch Fix, Inc. $22.78

Stitch Fix, Inc. (SFIX) is confirmed to report earnings at approximately 4:05 PM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.06 per share on revenue of $452.96 million and the Earnings Whisper ® number is $0.09 per share. Investor sentiment going into the company's earnings release has 83% expecting an earnings beat The company's guidance was for revenue of $447.00 million to $455.00 million. Consensus estimates are for earnings to decline year-over-year by 50.00% with revenue increasing by 22.33%. Short interest has decreased by 4.6% since the company's last earnings release while the stock has drifted lower by 16.1% from its open following the earnings release to be 5.1% below its 200 day moving average of $24.01. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, February 19, 2020 there was some notable buying of 4,026 contracts of the $35.00 call expiring on Friday, June 19, 2020. Option traders are pricing in a 28.0% move on earnings and the stock has averaged a 15.2% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Sogou Inc. $3.85

Sogou Inc. (SOGO) is confirmed to report earnings at approximately 4:00 AM ET on Monday, March 9, 2020. The consensus earnings estimate is $0.09 per share on revenue of $303.08 million and the Earnings Whisper ® number is $0.10 per share. Investor sentiment going into the company's earnings release has 58% expecting an earnings beat The company's guidance was for revenue of $290.00 million to $310.00 million. Consensus estimates are for year-over-year earnings growth of 28.57% with revenue increasing by 1.78%. Short interest has increased by 6.6% since the company's last earnings release while the stock has drifted lower by 27.8% from its open following the earnings release to be 15.7% below its 200 day moving average of $4.57. Overall earnings estimates have been revised lower since the company's last earnings release. The stock has averaged a 3.8% move on earnings in recent quarters.

(CLICK HERE FOR THE CHART!)

DocuSign $84.02

DocuSign (DOCU) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, March 12, 2020. The consensus earnings estimate is $0.05 per share on revenue of $267.44 million and the Earnings Whisper ® number is $0.08 per share. Investor sentiment going into the company's earnings release has 81% expecting an earnings beat The company's guidance was for revenue of $263.00 million to $267.00 million. Consensus estimates are for year-over-year earnings growth of 600.00% with revenue increasing by 33.90%. Short interest has decreased by 37.7% since the company's last earnings release while the stock has drifted higher by 12.1% from its open following the earnings release to be 31.9% above its 200 day moving average of $63.71. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, March 4, 2020 there was some notable buying of 1,698 contracts of the $87.50 call expiring on Friday, March 20, 2020. Option traders are pricing in a 8.5% move on earnings and the stock has averaged a 10.0% move in recent quarters.

(CLICK HERE FOR THE CHART!)

DISCUSS!

What are you all watching for in this upcoming trading week?
I hope you all have a wonderful weekend and a great trading week ahead stocks.
submitted by bigbear0083 to stocks [link] [comments]

Wall Street Week Ahead for the trading week beginning December 9th, 2019

Good Saturday morning to all of you here on wallstreetbets. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week ahead.
Here is everything you need to know to get you ready for the trading week beginning December 9th, 2019.

What Trump does before trade deadline is the ‘wild card’ that will drive markets in the week ahead - (Source)

The Trump administration’s Dec. 15 deadline for new tariffs on China looms large, and while most strategists expect them to be delayed while talks continue, they don’t rule out the unexpected.
“That’s the biggest thing in the room next week. I don’t think he’s going to raise them. I think they’ll find a reason,” said James Pauslen, chief investment strategist at Leuthold Group. But Paulsen said President Donald Trump’s unpredictable nature makes it really impossible to tell what will happen as the deadline nears.
“He’s the one off you’re never sure about. It’s not just tariffs. It could be damn near anything,” Paulsen said. “I think he goes out of his way to be a wild card.”
Just in the past week, Trump said he would put new tariffs on Brazil, Argentina and France. He rattled markets when he said he could wait until after the election for a trade deal with China.
Once dubbing himself “tariff man,” Trump reminded markets that he sees tariffs as a way of getting what he wants from an opponent, and traders were reminded tariffs may be around for a long time.
Trade certainly could be the most important event for markets in the week ahead, which also includes a Fed interest rate decision Wednesday and the U.K.’s election that could set the course for Brexit. If there’s no China deal, that could beat up stocks, send Treasury yields lower and send investors into other safe havens.
When Fed officials meet this week, they are not expected to change interest rates, but they are likely to discuss whether they believe their repo operations to drive liquidity in the short-term funding market are running smoothly, ahead of year end. Economic reports in the coming week include CPI inflation Wednesday, which could be an important input for the Fed.
Punt, but no deal As of Friday, the White House did not appear any closer to striking a deal with China, though officials say talks are going fine. Back in August, Trump said if there is no deal, Dec. 15 is the date for a new wave of tariffs on $156 billion in Chinese goods, including cell phones, toys and lap top computers.
Dan Clifton, head of policy research at Strategas, said it seems like a low probability there will be a deal in the coming week. “What the market is focused on right now is whether there’s going to be tariffs that to into effect on Dec. 15, or not. It’s being rated pretty binary,” said Clifton. “I think what’s happening here and the actions by China overnight looks like we’re setting up for a kick.”
China removed some tariffs from U.S. agricultural products Friday, and administration officials have been talking about discussions going fine.
Clifton said if tariffs are put on hold, it’s unclear for how long. “Those are going to be larger questions that have to be answered. This is really now about politics. Is it a better idea for the president to cut a deal without major structural reforms, or should he walk away? That’s the larger debate that has to happen after Dec. 15,” Clifton said. “I’m getting worried that some in the administration... they’re leaning toward no deal category.”
Clifton said Trump’s approval rating falls when the trade wars heat up, so that may motivate him to complete the deal with China even if he doesn’t get everything he wants.
Michael Schumacher, director of rates strategy at Wells Fargo, said his base case is for a trade deal to be signed in the next couple of months, but even so, he said he can’t entirely rule out another outcome. It would make sense for tariffs to be put on hold while talks continue.
“The tweeter-in-chief controls that one, ” said Schumacher. “That’s anybody’s guess...I wouldn’t be at all surprised if he suspends it for a few weeks. If he doesn’t, that’s a pretty unpleasant result. That’s risk off. That’s pretty clear.”
Because the next group of tariffs would be on consumer goods, economists fear they could hit the economy through the consumer, the strongest and largest engine behind economic growth.
Fed ahead The Fed has moved to the sidelines and says it is monitoring economic data before deciding its next move. Friday’s strong November jobs report, with 266,000 jobs added, reinforces the Fed’s decision to move to neutral for now.
So the most important headlines from its meeting this week could be about the repo market, basically the plumbing for the financial system where financial institutions fund themselves. Interest rates in that somewhat obscure market spiked in September. Market pros said the issue was a cash crunch in the short term lending market, made better when the Fed started repo operations.
The Fed now has multiple operations running over year end, and Schumacher said it has latitude to do more. Strategists expect there to be more pressure on the repo market as banks rein in operations to spruce up their balance sheets at year end.
“No one is going to come to the Fed and say you did too much in the year-end funding,” said Schumacher. “If repo happens to spike somewhat on one day, the Fed is going to hammer it the next day.”
Paulsen said the markets will be attuned to this week’s inflation numbers. Consumer inflation, the CPI is reported on Wednesday and producer prices are Thursday.
A pickup in inflation of any significance is one thing that could pull the Fed from the sidelines, and prod it to consider a rate hike.
“I think the inflation reports might start to get a little attention. Given the jobs numbers, the employment rate, growth picking up a little bit and a better tone in manufacturing. I do think if you get some hot CPI number, I don’t know if the Fed can ignore it,” he said. “Core CPI is 2.3%.” He said it would get noticed if it jumped to 2.5% or better.
The Fed’s inflation target is 2% but its preferred measure is the PCE inflation, and that remains under 2%.
Stocks were sharply higher Friday but ended the past week flattish. The S&P 500 was slightly higher, up 0.2% at 3,145, and the Dow was down 0.1% at 28,015. The Nasdaq was 0.1% lower, ending the week at 8,656.

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Sector Performance WTD, MTD, YTD:

(CLICK HERE FOR FRIDAY'S PERFORMANCE!)
(CLICK HERE FOR THE WEEK-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE MONTH-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 3-MONTH PERFORMANCE!)
(CLICK HERE FOR THE YEAR-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 52-WEEK PERFORMANCE!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)

Reasons We Still Believe In December

It has been a rough start to the most wonderful month of them all, with the S&P 500 Index down each of the first two days of December. Don’t stop believing just yet, though.
Everyone knows December has usually been a good month for stocks, but what happened last year is still fresh in the minds of many investors. The S&P 500 fell 9.1% in December 2018 for the worst December since 1931. That sounds really bad, until you realize stocks fell 30% in September 1931, but we digress.
One major difference between now and last year is how well the global equities have been performing. Heading into December 2018, the S&P 500 was up 3.2% year to date, but markets outside of the United States were already firmly in the red, with many down double digits.
“We don’t think stocks are on the verge of another massive December sell off,” said LPL Financial Senior Market Strategist Ryan Detrick. “If my Cincinnati Bengals can win a game, anything is possible. However, we are quite encouraged by the overall participation we are seeing from various global stock markets this year versus last year, when the United States was about the only market in the green heading into December.”
Stocks have also overcome volatile starts to December recently. The S&P 500 was down four days in a row to start 2013 and 2017, but the gauge still managed to gain 2.4% and 1%, respectively, in those years.
As the LPL Chart of the Day shows, December has been the second-best month of the year for stocks going back to 1950. It is worth noting that it was the best month of the year before last year’s massive drop. Stocks have historically been strong in pre-election years as well, and December has never been lower two times in a row during a pre-election year. Given stocks fell in December 2015, bulls could be smiling when this month is wrapped up.
(CLICK HERE FOR THE CHART!)

Could Impeachment Be Good for Investors?

Impeaching a President with the possibility of removal from office is by no means great for the country. However, it may not be so horrible for the stock market or investors if history is any guide. We first touched on this over two years ago here on the blog and now that much has transpired and the US House of Representatives is now proceeding with drafting articles of impeachment we figured it was a good time to revisit the history (albeit limited) of market behavior during presidential impeachment proceedings. The three charts below really tell the story.
During the Watergate scandal of Nixon’s second term the market suffered a major bear market from January 1973 to OctobeDecember 1974 with the Dow down 45.1%, S&P 500 down 48.2% and NASDAQ down 59.9%. Sure there were other factors that contributed to the bear market such as the Oil Embargo, Arab-Israeli War, collapse of the Bretton Woods system, high inflation and Watergate. However, shortly after Nixon resigned on August 9, 1974 the market reached the secular bear market low on October 3 for S&P and NASDAQ and December 6 for the Dow.
Leading up to the Clinton investigations and through his subsequent impeachment and the acquittal by the Senate the market was on a tear as one of the biggest bull markets in history raged on. After the 1994 midterm elections when the Republicans took back control of both houses of Congress the market remained on a 45 degree upward trajectory except for a few blips and the shortest bear market on record that lasted 45 days and bottomed on August 31, 1998.
Clinton was impeached in December 1998 and acquitted in February 1999 as the market continued higher throughout his second term. Sure there were other factors that contributed to the late-1990s bull-run such as the Dotcom Boom, the Information Revolution, millennial fervor and a booming global economy, but Clinton’s personal scandal had little negative impact on markets.
It remains to be seen of course what will happen with President Trump’s impeachment proceeding and how the world and markets react, but the market continues to march on. If the limited history of impeachment proceedings of a US President in modern times (no offense to our 17th President Andrew Johnson) is any guide, the market has bounced back after the last two impeachment proceedings and was higher a year later. Perhaps it will be better to buy any impeachment dip rather than sell it.
(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!!)
(CLICK HERE FOR THE CHART LINK #3!!)

Typical December Trading: Modest Strength Early, Choppy Middle and Solid Gains Late

Historically, the first trading day of December, today, has a slightly bearish bias with S&P 500 advancing 34 times over the last 69 years (since 1950) with an average loss of 0.02%. Tomorrow, the second trading day of December however, has been stronger, up 52.2% of the time since 1950 with an average gain of 0.08% and the third day is better still, up 59.4% of the time.
Over the more recent 21-year period, December has opened with strength and gains over its first seven trading days before beginning to drift. By mid-month all five indices have surrendered any early-month gains, but shortly thereafter Santa usually visits sending the market higher until the last day of the month and the year when last minute selling, most likely for tax reasons, briefly interrupts the market’s rally.
(CLICK HERE FOR THE CHART!)

Odds Still Favor A Gain for Rest of December Despite Rough Start

Just when it was beginning to look like trade was heading in a positive direction, the wind changed direction again. Yesterday it was steel and aluminum tariffs on Brazil and Argentina and today a deal with China may not happen as soon as previously anticipated. The result was the worst first two trading days of December since last year and the sixth worst start since 1950 for S&P 500. DJIA and NASDAQ are eighth worst since 1950 and 1971, respectively.
However, historically past weakness in early December (losses over the first two trading days combined) were still followed by average gains for the remainder of the month the majority of the time. DJIA has advanced 74.19% of the time following losses over the first two trading days with an average gain for the remainder of December of 1.39%. S&P 500 was up 67.65% of the time with an average rest of month gain of 0.84%. NASDAQ is modestly softer advancing 61.11% of the time during the remainder of December with an average advance of 0.30%.
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STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending December 6th, 2019

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Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
  • $LULU
  • $COST
  • $THO
  • $AZO
  • $ADBE
  • $AVGO
  • $CIEN
  • $MDB
  • $CHWY
  • $SFIX
  • $AEO
  • $GME
  • $OLLI
  • $TOL
  • $PLCE
  • $UNFI
  • $PLAY
  • $ORCL
  • $HDS
  • $CONN
  • $MTN
  • $JT
  • $LOVE
  • $CMD
  • $PLAB
  • $DBI
  • $ROAD
  • $VRA
  • $CDMO
  • $LQDT
  • $TLRD
  • $TWST
  • $PHR
  • $NDSN
  • $MESA
  • $VERU
  • $DLHC
  • $BLBD
  • $OXM
  • $NX
  • $GNSS
  • $PHX
  • $GTIM
(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
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Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

Monday 12.9.19 Before Market Open:

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Monday 12.9.19 After Market Close:

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Tuesday 12.10.19 Before Market Open:

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Tuesday 12.10.19 After Market Close:

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Wednesday 12.11.19 Before Market Open:

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Wednesday 12.11.19 After Market Close:

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Thursday 12.12.19 Before Market Open:

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Thursday 12.12.19 After Market Close:

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Friday 12.13.19 Before Market Open:

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NONE.

Friday 12.13.19 After Market Close:

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NONE.

lululemon athletica inc. $229.38

lululemon athletica inc. (LULU) is confirmed to report earnings at approximately 4:05 PM ET on Wednesday, December 11, 2019. The consensus earnings estimate is $0.93 per share on revenue of $896.50 million and the Earnings Whisper ® number is $0.98 per share. Investor sentiment going into the company's earnings release has 73% expecting an earnings beat The company's guidance was for earnings of $0.90 to $0.92 per share on revenue of $880.00 million to $890.00 million. Consensus estimates are for year-over-year earnings growth of 24.00% with revenue increasing by 19.91%. Short interest has increased by 9.8% since the company's last earnings release while the stock has drifted higher by 16.0% from its open following the earnings release to be 26.0% above its 200 day moving average of $182.08. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, December 6, 2019 there was some notable buying of 927 contracts of the $260.00 call expiring on Friday, December 13, 2019. Option traders are pricing in a 8.3% move on earnings and the stock has averaged a 11.1% move in recent quarters.

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Costco Wholesale Corp. $294.95

Costco Wholesale Corp. (COST) is confirmed to report earnings at approximately 4:15 PM ET on Thursday, December 12, 2019. The consensus earnings estimate is $1.70 per share on revenue of $37.43 billion and the Earnings Whisper ® number is $1.74 per share. Investor sentiment going into the company's earnings release has 78% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 5.59% with revenue increasing by 6.73%. Short interest has increased by 19.3% since the company's last earnings release while the stock has drifted higher by 2.5% from its open following the earnings release to be 10.3% above its 200 day moving average of $267.50. Overall earnings estimates have been revised higher since the company's last earnings release. On Tuesday, November 19, 2019 there was some notable buying of 916 contracts of the $265.00 put expiring on Friday, December 27, 2019. Option traders are pricing in a 3.7% move on earnings and the stock has averaged a 3.6% move in recent quarters.

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Thor Industries, Inc. $67.77

Thor Industries, Inc. (THO) is confirmed to report earnings at approximately 6:45 AM ET on Monday, December 9, 2019. The consensus earnings estimate is $1.23 per share on revenue of $2.30 billion and the Earnings Whisper ® number is $1.30 per share. Investor sentiment going into the company's earnings release has 69% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 16.89% with revenue increasing by 30.98%. Short interest has increased by 48.1% since the company's last earnings release while the stock has drifted higher by 25.5% from its open following the earnings release to be 16.0% above its 200 day moving average of $58.44. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, December 3, 2019 there was some notable buying of 838 contracts of the $60.00 put expiring on Friday, December 20, 2019. Option traders are pricing in a 10.0% move on earnings and the stock has averaged a 7.6% move in recent quarters.

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AutoZone, Inc. -

AutoZone, Inc. (AZO) is confirmed to report earnings at approximately 6:55 AM ET on Tuesday, December 10, 2019. The consensus earnings estimate is $13.69 per share on revenue of $2.76 billion and the Earnings Whisper ® number is $14.02 per share. Investor sentiment going into the company's earnings release has 76% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 1.63% with revenue increasing by 4.48%. Short interest has decreased by 13.7% since the company's last earnings release while the stock has drifted higher by 1.1% from its open following the earnings release to be 8.9% above its 200 day moving average of $1,077.00. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 5.5% move on earnings and the stock has averaged a 5.6% move in recent quarters.

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Adobe Inc. $306.23

Adobe Inc. (ADBE) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, December 12, 2019. The consensus earnings estimate is $2.26 per share on revenue of $2.97 billion and the Earnings Whisper ® number is $2.30 per share. Investor sentiment going into the company's earnings release has 74% expecting an earnings beat The company's guidance was for earnings of approximately $2.25 per share. Consensus estimates are for year-over-year earnings growth of 23.50% with revenue increasing by 20.51%. Short interest has increased by 44.6% since the company's last earnings release while the stock has drifted higher by 11.2% from its open following the earnings release to be 9.1% above its 200 day moving average of $280.60. Overall earnings estimates have been revised higher since the company's last earnings release. On Monday, November 25, 2019 there was some notable buying of 505 contracts of the $340.00 call expiring on Friday, December 20, 2019. Option traders are pricing in a 3.9% move on earnings and the stock has averaged a 3.8% move in recent quarters.

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Broadcom Limited $316.05

Broadcom Limited (AVGO) is confirmed to report earnings at approximately 4:15 PM ET on Thursday, December 12, 2019. The consensus earnings estimate is $5.36 per share on revenue of $5.76 billion and the Earnings Whisper ® number is $5.47 per share. Investor sentiment going into the company's earnings release has 69% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 7.27% with revenue increasing by 5.80%. Short interest has increased by 22.8% since the company's last earnings release while the stock has drifted higher by 6.2% from its open following the earnings release to be 9.7% above its 200 day moving average of $288.21. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, December 5, 2019 there was some notable buying of 625 contracts of the $135.00 call expiring on Friday, January 15, 2021. Option traders are pricing in a 5.2% move on earnings and the stock has averaged a 4.7% move in recent quarters.

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Ciena Corporation $35.00

Ciena Corporation (CIEN) is confirmed to report earnings at approximately 7:00 AM ET on Thursday, December 12, 2019. The consensus earnings estimate is $0.66 per share on revenue of $964.80 million and the Earnings Whisper ® number is $0.67 per share. Investor sentiment going into the company's earnings release has 72% expecting an earnings beat The company's guidance was for revenue of $945.00 million to $975.00 million. Consensus estimates are for year-over-year earnings growth of 26.92% with revenue increasing by 7.28%. Short interest has increased by 66.6% since the company's last earnings release while the stock has drifted lower by 9.5% from its open following the earnings release to be 11.0% below its 200 day moving average of $39.32. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, December 6, 2019 there was some notable buying of 1,156 contracts of the $36.00 put expiring on Friday, December 13, 2019. Option traders are pricing in a 9.0% move on earnings and the stock has averaged a 10.1% move in recent quarters.

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MongoDB, Inc. $131.17

MongoDB, Inc. (MDB) is confirmed to report earnings at approximately 4:05 PM ET on Monday, December 9, 2019. The consensus estimate is for a loss of $0.28 per share on revenue of $99.73 million and the Earnings Whisper ® number is ($0.26) per share. Investor sentiment going into the company's earnings release has 63% expecting an earnings beat The company's guidance was for a loss of $0.29 to $0.27 per share on revenue of $98.00 million to $100.00 million. Consensus estimates are for year-over-year earnings growth of 15.15% with revenue increasing by 53.47%. Short interest has increased by 15.2% since the company's last earnings release while the stock has drifted lower by 16.3% from its open following the earnings release to be 5.1% below its 200 day moving average of $138.19. Overall earnings estimates have been revised lower since the company's last earnings release. On Tuesday, November 19, 2019 there was some notable buying of 970 contracts of the $210.00 call expiring on Friday, December 20, 2019. Option traders are pricing in a 10.1% move on earnings and the stock has averaged a 8.7% move in recent quarters.

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Chewy, Inc. $24.95

Chewy, Inc. (CHWY) is confirmed to report earnings at approximately 4:10 PM ET on Monday, December 9, 2019. The consensus estimate is for a loss of $0.16 per share on revenue of $1.21 billion and the Earnings Whisper ® number is ($0.15) per share. Investor sentiment going into the company's earnings release has 57% expecting an earnings beat. Short interest has increased by 40.7% since the company's last earnings release while the stock has drifted lower by 14.6% from its open following the earnings release. Overall earnings estimates have been revised lower since the company's last earnings release. The stock has averaged a 6.4% move on earnings in recent quarters.

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Stitch Fix, Inc. $24.09

Stitch Fix, Inc. (SFIX) is confirmed to report earnings at approximately 4:05 PM ET on Monday, December 9, 2019. The consensus estimate is for a loss of $0.06 per share on revenue of $441.04 million and the Earnings Whisper ® number is ($0.04) per share. Investor sentiment going into the company's earnings release has 69% expecting an earnings beat The company's guidance was for revenue of $438.00 million to $442.00 million. Consensus estimates are for earnings to decline year-over-year by 160.00% with revenue increasing by 20.43%. Short interest has increased by 30.9% since the company's last earnings release while the stock has drifted higher by 41.7% from its open following the earnings release to be 2.4% below its 200 day moving average of $24.69. Overall earnings estimates have been revised lower since the company's last earnings release. On Thursday, November 21, 2019 there was some notable buying of 1,000 contracts of the $13.00 put expiring on Friday, January 17, 2020. Option traders are pricing in a 20.0% move on earnings and the stock has averaged a 18.9% move in recent quarters.

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DISCUSS!

What are you all watching for in this upcoming trading week?
I hope you all have a wonderful weekend and a great trading week ahead wallstreetbets.
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