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The Week Ahead & A Look Back : May 20 - May 24

Updated: Jun 10

The Week Ahead

Let's look at the companies that are scheduled to release earnings this upcoming week.

Monday, May 20 (WIX) - ★★★★ : is a leading cloud-based web development platform that allows users to create and manage websites and online stores. Investors will be looking for continued customer growth, average revenue per user metrics, and any updates on Wix's expansion into e-commerce and marketing solution offerings.

Tuesday, May 21

Macy's (M) - ★★★ : The iconic department store chain has been focused on increasing its digital presence and slimming down its brick-and-mortar footprint. Investors want to see if Macy's e-commerce initiatives are paying off and how it is managing excess inventory levels.

Toll Brothers (TOL) - ★★★★ : As a leading luxury homebuilder, Toll's results will provide insight into the high-end housing market. Metrics like orders, backlog, average selling prices, and any revised guidance will be scrutinized closely.

Urban Outfitters (URBN) - ★★★ : The retailer behind Urban Outfitters, Anthropologie and Free People apparel brands needs to show it can sustain sales momentum and control costs in an inflationary environment.

Wednesday, May 22

Target (TGT) - ★★★★ : The big-box retailer's results will be parsed for same-store sales trends, inventory management, profit margins, and updates on initiatives like enhanced grocery offerings and delivery services.

Williams-Sonoma (WSM) - ★★★★ : The parent of Williams-Sonoma, Pottery Barn and West Elm home furnishings stores needs to prove it can pass on higher costs to consumers and maintain growth as the housing market cools.

Nvidia (NVDA) - ★★★★★ : The semiconductor giant is a bellwether for demand across gaming, data centers, AI and automotive markets. Revenue guidance and any comments on the AI chip opportunity will be closely watched.

Snowflake (SNOW) - ★★★ : One of the leaders in cloud data platforms, Snowflake's ability to maintain robust revenue growth through new customer additions will be a key area of focus.

Thursday, May 23

Ralph Lauren (RL) - ★★★★ : The luxury clothing brand will need to show resilience in the face of higher costs and any consumer spending pullback in its major markets.

Intuit (INTU) - ★★★★★ : The software company behind products like TurboTax and QuickBooks is expected to issue bullish guidance based on momentum for its tax preparation and small business accounting solutions.

Ross Stores (ROST) - ★★★★ : As a major off-price retailer of name-brand merchandise, Ross Stores' results will reflect consumers' appetite for discounted apparel and home goods in an inflationary climate.

Workday (WDAY) - ★★★ : The enterprise cloud provider for finance, HR and planning tools should benefit from digital transformation demand, but investors will watch costs and any change to subscription revenue forecasts.

A Look Back

  • Toll Brothers, KB Home Lead Gains as Housing Stocks Climb

Toll Brothers (TOL) - ★★★★ - Ranked #37 in Q2 2024 Equity SMID Rankings

KB Home (KBH) - ★★★★ - Ranked #29 in Q2 2024 Equity SMID Rankings

Shares of major U.S. homebuilders like Toll Brothers and KB Home rallied sharply on Wednesday, with both stocks up more than 5% in intraday trading. The broader PHLX Housing Index (.HGX), which tracks housing-related stocks, jumped 2.6% to hit its highest level since April 4th.

The homebuilder rally was fueled by an encouraging report on U.S. inflation. Consumer prices rose just 0.1% in May from the prior month, coming in below economists' expectations. The better-than-expected inflation data strengthened the case for the Federal Reserve to implement additional interest rate cuts at its September meeting.

  • Walmart Stock Soars on Blockbuster Earnings Report

Walmart (WMT) - ★★★★ - Ranked #45 in Q2 2024 in Large Cap Equity Rankings

Shares of retail giant Walmart Inc. skyrocketed to record highs on Thursday, propelled by a stellar fiscal first-quarter earnings report that exceeded Wall Street's expectations across the board. The stellar results, bolstered by a remarkable surge in e-commerce sales, sent Walmart's stock price rallying over 6% during the trading session.

Walmart delivered a grand slam performance, surpassing analyst projections for profit, revenue, and same-store sales. Buoyed by the impressive showing, the company raised its full-year earnings outlook, further fueling investor enthusiasm. The robust sales growth was driven by an uptick in transactions, increased foot traffic in physical stores, and market share gains, underscoring the retailer's enduring appeal among consumers.

  • Is the Surge in Snapchat Stock Sustainable or a Temporary Boost?

Snapchat (SNAP) - ★★★★★ - Ranked #2 in our Q2 2024 SMID Equity Rankings

Snap Inc., the parent company of the popular social media app Snapchat, has seen its stock rebound sharply over the past month, gaining an impressive 53% after a lackluster start to the year. As of mid-May 2024, Snapchat's stock is down just 2% year-to-date, a far cry from the double-digit declines the stock performance was experiencing just a couple of months ago.

For investors who heeded our call in March 2024, when we identified an intermediate-term opportunity in Snapchat and set a $15 price target for the next 12 months, representing a potential 26% upside from the stock's then-price of $11.85, the recent rally has been a rewarding vindication of our analysis.

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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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