Expected result from CGC and ZM
With a short vacation week this week in mind, investors will not be short of economic data and earnings to look forward to. The US stock market closed on Monday for Memorial Day. As the markets reopen today, the flood of data will include an update to the Federal Reserve’s latest Beige Book report, additional data on initial and ongoing jobless claims, and an ADP employment report.
Additionally, some more earnings reports will seep in as the reporting season ends. Highlights include quarterly reports from Broadcom (AVGO), Canopy Growth (CGC), Cloudera (CLDR), Lululemon Athletica (LULU), and Zoom Video (ZM). All economic data presented here are preliminary and subject to change.
As markets reopen for the shortened vacation week today, investors can look forward to the final Markit Purchasing Managers’ Index (PMI), ISM manufacturing index and construction spending data. on tap
The following publicly traded companies will publish quarterly earnings reports today June 1st:
Bank of Nova Scotia (NYSE: BNS – $ 67.30) offers various banking products and services. The Bank of Nova Scotia will release its results for the second quarter of 2021 today before the bell.
Canopy Growth Corp. (NASDAQ: CGC – $ 26.09) deals with the production, distribution and sale of cannabis for recreational and medicinal purposes. Canopy Growth will announce fourth quarter 2021 results today before the bell.
Ambarella Inc. (NASDAQ: AMBA – $ 100.38) develops semiconductor solutions for video that enable high definition (HD) and ultra HD compression, image processing, and deep neural network processing. Ambarella will announce its Q1 results of 2022 after the market closes today.
Digital Turbine Inc. (NASDAQ: APPS – $ 100.38) provides media and mobile communications products and solutions to cellular operators, application advertisers, device manufacturers, and other third parties. Digital Turbine will announce the results for the first quarter of 2021 after the market closes.
Hewlett Packard Enterprise Co. (NYSE: HPE – $ 15.96) offers solutions that enable customers to seamlessly capture, analyze, and act on data. Hewlett Packard Enterprise will announce its results for the second quarter of 2021 after the market closes.
Medallia Inc. (NYSE: MDLA – $ 25.67) offers a software-as-a-service platform for companies. Medallia will announce its 2022 Q1 results after the market closes today.
StoneCo Ltd. (NASDAQ: STNE – $ 65.97) provides merchants and integrated partners with financial technology solutions for e-commerce through in-store, online and mobile channels in Brazil. StoneCo will announce its results for the first quarter of 2021 after the market closes.
Zoom Video Communications Inc. (NASDAQ: ZM – $ 331.53) offers a video-first communication platform. Zoom Video will announce its results for the first quarter of 2021 after the market closes.
The following companies reported their quarterly results on Friday, May 28th:
Big Lots Inc. (NYSE: BIG – $ 64.54) operates as a retailer in the United States. Big Lots reported earnings per share (EPS) for the quarter of $ 2.62, beating analysts’ consensus estimate of $ 1.69 by $ 0.93. The company had revenue of $ 1.63 billion for the quarter, compared to the consensus estimate of $ 1.54 billion.
Caleres Inc. (NYSE: CAL – $ 27.28) does the retail and wholesale of shoes in the United States, China, Canada, China, and Guam. Caleres reported $ 0.60 EPS for the quarter, beating analysts’ consensus estimates of $ 0.03 by $ 0.57. The company had revenue of $ 638.60 million for the quarter, compared to analyst expectations of $ 573.10 million.
Hibbett Sports Inc. (NASDAQ: HIBB – $ 87.32) is active in the retail sector of sporty-inspired fashion products. Hibbett Sports reported $ 5.00 EPS for the quarter, beating the consensus estimate of $ 2.37 by $ 2.63. The company had revenue of $ 506.80 million for the quarter, compared to analyst estimates of $ 389.65 million.
Looking ahead to tomorrow, the Federal Reserve’s latest Beige Book report will be released on Wednesday, along with data on auto sales. AAll economic data presented here are preliminary and subject to change.