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Weekly Unemployment Claims and Expected Income by Walgreens

The first trading day in July begins today and it is officially our 40th anniversary month here at Schaeffer! Bernie Schaeffer founded Schaeffer’s Investment Research in July 1981. Be up to date every week at the end of this post.

Today’s trading session will contain the usual data on initial claims and ongoing unemployment claims, as well as the Markit manufacturing PMI and the ISM manufacturing index.

We have summarized the following companies that are due to publish their quarterly results today, July 1st:

Acuity Brands Inc. (NYSE: AYI – $ 187.03) provides lighting and building management solutions and services for commercial, institutional, industrial, infrastructure and residential applications in North America and internationally. Acuity Brands will announce third quarter 2021 results today before the bell.

Lindsay Corp. (NYSE: LNN – $ 165.28) offers water management and road infrastructure products and services in the United States and internationally. Lindsay will present his results for the third quarter of 2021 in front of the bell today.

McCormick & Co. Inc. (NYSE: MKC – $ 88.32) produces, markets and sells spices, seasoning mixtures, spices and other tasty products for the food industry. McCormick & Co. will announce its results for the second quarter of 2021 before the bell today.

The Simply Good Foods Co. (NASDAQ: SMPL – $ 36.51) operates as a consumer packaging company for food and beverages in North America and internationally. Simply Good Foods will release its results for the third quarter of 2021 today before the bell.

Walgreens Boots Alliance Inc. (NASDAQ: WBA – $ 52.61) runs a retail chain. Walgreens Boots Alliance will release its results for the third quarter of 2021 today before the bell.

Now let’s take a quick look at how yesterday’s earnings announcement compares to expectations:

Bed Bath & Beyond Inc. (NASDAQ: BBBY – $ 29.91) runs a retail chain. Enerpac reported earnings per share (EPS) for the quarter of $ 0.05, missing the consensus estimate of $ 0.08 by $ 0.03. The company had revenue of $ 1.95 billion for the quarter, compared to analyst expectations of $ 1.87 billion.

Constellation Brands Inc. (NYSE: STZ – $ 230.98) produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. Constellation Brands reported earnings per share of $ 2.33 for the quarter, missing analysts’ consensus estimates of $ 2.35 by $ 0.02. The company earned $ 2.03 billion in the quarter, compared to analyst estimates of $ 2.02 billion.

General Mills Inc. (NYSE: GIS – $ 60.03) produces and markets branded foods worldwide. General Mills reported earnings per share of $ 0.91 for the quarter, beating analysts’ consensus estimate of $ 0.85 by $ 0.06. The company had revenue of $ 4.52 billion for the quarter, compared to analyst estimates of $ 4.36 billion.

Micron Technology Inc. (NASDAQ: MU – $ 82.93) develops, manufactures and sells memory and storage products worldwide. Micron reported $ 1.88 EPS for the quarter, beating analysts’ consensus estimates of $ 1.71 by $ 0.17. The company had revenue of $ 7.42 billion for the quarter, compared to analyst estimates of $ 7.26 billion.

Shaw Communications Inc. (NYSE: SJR – $ 28.75) operates as a connectivity company in North America. Shaw reported earnings per share (EPS) for the quarter of $ 0.70, beating analysts’ consensus estimate of $ 0.28 by $ 0.42. The company had revenue of $ 1.38 billion for the quarter, compared to analyst expectations of $ 1.34 billion.

Looking ahead to tomorrow, Friday will unveil May’s non-farm payrolls, unemployment rate, average hourly wage, trade deficit and factory orders. All economic data presented here are preliminary and subject to change.

** Schaeffer’s Event Trader portfolio has doubled in value over the past six months (+ 109.72% to be precise) by simply adding 10% of its portfolio to every simple put or call recommended in the program was invested! Compare that to the SPX, which only returned 11.93% over the same period. To kick off our 40th anniversary celebrations this month, Bernie is letting you spin the event trader for just $ 4 this month by clicking here before July 4th! **

Independence Day in the USA falls on a Sunday this year. For traders, this means that the US stock market will be closed on Monday, July 5th for the holiday. Markets will reopen Tuesday morning at 9:30 a.m. ET for a four-day week of trading.

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