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The Week Ahead & A Look Back: May 13-17

The Week Ahead

Investors will be watching a number of high-profile companies reporting quarterly earnings results in the coming week. Here's a look at some of the key names and what to expect:

Tuesday, May 14

Home Depot (HD) - ★★★★ : The home improvement retail giant and Dow component is expected to report fiscal first quarter earnings per share of $3.60 on revenue of $36.6 billion. Investors will be watching for any impact on results from the slowing housing market. Same-store sales growth and profit margins will also be in focus. The stock is basically flat this year as it is down less than 1% YTD.

Jack in the Box (JACK) - ★★ : The fast food chain is slated to report fiscal second quarter results. The consensus analysts expectation is for earnings around $1.42 per share. Investors will be looking for updates on Jack in the Box's remodeling plans and any comments on the impact of higher costs on restaurant-level margins. Same-store sales growth will also be closely watched.

Lionsgate (LGF.A) - ★★★ : The entertainment company behind hit franchises like John Wick and The Hunger Games will report fiscal fourth quarter earnings. As competition intensifies in the streaming market, investors will want to hear about any new production deals or streaming service partnerships for Lionsgate's Starz platform.

Wednesday May 15

Cisco Systems (CSCO) - ★★★ : The networking equipment and software giant will report fiscal third quarter results after the closing bell. Analysts are forecasting earnings per share of $0.82 on revenue of $12.5 billion. Investors will watch closely for any weakness in Cisco's enterprise segment given concerns about slowing IT spending. Growth in the company's key product categories like security and data center will also be scrutinized.

Thursday, May 16

Walmart (WMT) - ★★★★ : The world's largest retailer is scheduled to release fiscal first quarter earnings before the bell. Wall Street expects earnings per share of $0.52 on revenue of $159.4 billion. In addition to Walmart U.S. same-store sales, investors will want to know the latest on the company's e-commerce growth, efforts to expand its grocery delivery and pickup services, and any new strategic partnerships or acquisitions.

Deere & Company (DE) - ★★★ : The farm equipment manufacturer will report fiscal second quarter earnings. Analysts are calling for earnings per share of $7.89 on revenue of $13.2 billion. Investors will be focused on commentary around U.S. agriculture conditions, trade policy impacts, and Deere's construction equipment business, which has been a bright spot.

Take-Two Interactive (TTWO) - ★★ : The video game publisher behind hit franchises like Grand Theft Auto and Red Dead Redemption will report fiscal fourth quarter results. Analysts expect earnings per share of $0.09 on revenue of $1.3 billion. With growing competition in the gaming space, investors will want updates on key title launches and sales figures, plus any new games in development. Projected spending on marketing and new content will also be closely scrutinized.

A Look Back

  • Disney Earnings Results Fall Short, Stock Punished

Disney (DIS) - ★★★★ - Ranked #23 in Q2 2024 Large Cap Equity Rankings

Shares of Walt Disney Co. (DIS) are in freefall today, down over 8% and on pace for the largest single-day percentage decline since May 11, 2023. The plunge comes after the entertainment conglomerate reported lackluster fiscal second-quarter results.

For the quarter ended March 31, Disney posted revenue of $22.08 billion, a meager 1% year-over-year increase that narrowly missed Wall Street's consensus estimate of $22.11 billion. While adjusted earnings per share of $1.21 exceeded expectations of $1.09, the topline miss appears to be heavily weighing on investor sentiment.

  • Warner Bros. Stock Slides Nearly 9% After Supreme Court Favors Flo-Rida Producer

Warner Music Group (WMG) - ★★ - Ranked #85 in our Q2 2024 Large Cap Equity Rankings

Shares of Warner Music Group (WMG) dropped sharply on Thursday, falling nearly 9% in regular trading after the U.S. Supreme Court ruled in favor of a Miami-based music producer in a long-running copyright case against the company.

The Supreme Court's 6-3 decision allows music producer Sherman Nealy to collect over a decade's worth of damages from Warner Music. Nealy sued a Warner subsidiary in 2018, claiming copyright infringement for using elements of his song "Jam the Box" in the 2008 Flo Rida track "In the Ayer" without proper permission.

  • Sweetgreen Skyrockets on Steak Plate Rollout and Stellar Earnings

Sweetgreen (SG) - ★★★ - Ranked #54 in Q2 2024 SMID Equity Rankings

Call option traders feasted on profits from Sweetgreen (SG) on Friday as the healthy fast-casual chain's stock soared over 40% after a blockbuster earnings report. The May 17 2024 $25 strike call options exploded 429% higher to $9.00 per contract at the peak, up from just $1.70 at the prior close.

The massive move in Sweetgreen's options came as the company's shares rallied as high as 45% in pre-market trading. Investors celebrated the chain's Q1 earnings beat driven by a 5% increase in same-store sales. Despite posting a wider net loss, Sweetgreen raised its full-year revenue guidance to $660-$675 million.

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The information provided in this report is for general informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. The opinions expressed in the report are our own and are subject to change without notice. We may have a position in the securities mentioned in the report, and we may buy or sell such securities without notice. Any investment decisions made based on the information in this report are solely the responsibility of the recipient. We do not accept any liability for any direct, indirect, or consequential loss arising from any use of this report or its contents.


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