Companies AMC and Cisco preparing to disclose financial results, with market observers closely monitoring the Core Consumer Price Index (CPI) figures.
In the coming week, a variety of significant companies are set to share their earnings results, providing investors with valuable insights into the current economic climate.
Monday, August 11, will see AMC Entertainment, Barrick Mining, Oklo, and Plug Power reporting their earnings. On the same day, Forward Air Corp., Agenus Inc., Telephone and Data Systems Inc., and HF Foods Group Inc. are also scheduled to release their financial reports.
The week continues with important economic reports being announced. On Tuesday, Core CPI and NFIB Small Business Optimism will be presented, followed by the MBA Purchase Index and Crude Oil Imports on Wednesday. Thursday will see Continuing Jobless Claims and Core PPI being announced, and on Friday, Core Retail Sales, Industrial Production, and Business Inventories will be reported.
Seeking Alpha's Wall Street Week Ahead newsletter previews key events scheduled for the week, including upcoming IPOs, investor days, earnings reports, and conference presentations.
In the tech sector, major averages closed mixed on Thursday, but a rally in tech stocks boosted market sentiment, even as investors continued to weigh the impact of Donald Trump's tariffs. Cisco Systems is expected to report fourth quarter earnings of $0.98 per share on $14.63B revenue on Wednesday, August 13. However, headwinds for Cisco include challenging order growth comps and continued underperformance in the Security and Observability segments.
The IPO lockup period expires for blocks of shares of Sailpoint and Karman Holdings this week. In the logistics industry, United Parcel Service (UPS) reported earnings around this period, with historical data showing activity on August 14.
AMC Entertainment is expected to post second quarter results next week, with an anticipated revenue rise of over 30%. Wall Street expects AMC Entertainment to report EPS of -$0.08 on revenue of $1.34 billion.
The week also sees Alibaba and Applied Materials reporting earnings on Thursday, August 14, and Cisco and Alvotech reporting earnings on Wednesday, August 13.
In addition to earnings reports, companies with an ex-dividend next week include Apple, KKR, Ford Motor Company, Visa, FTAI Aviation, Target, Kenvue, Paccar, Walmart, Eli Lilly, Exxon Mobil, and Starbucks.
The financial landscape is further shaped by the quiet period expiring for Aura Minerals, Robot Consulting, Mega Fortune, and K-Tech Solutions, freeing up analysts to post ratings. The most overbought stocks per their 14-day relative strength index include Celcuity, Jyong Biotech, and Star Fashion Culture, while the most oversold stocks include Primo Brands, Evolus, and Fortinet.
Finally, it's worth noting that Federal Reserve Governor Christopher Waller is reportedly gaining momentum in the process to succeed Jerome Powell as chair of the central bank. Trump's reciprocal tariffs took effect at midnight on Thursday.
[1] Companies reporting earnings in the week of August 11-15, 2022: https://www.nasdaq.com/articles/companies-reporting-earnings-in-the-week-of-august-11-15-2022-2022-08-08 [2] Companies reporting earnings on August 11: https://www.nasdaq.com/articles/companies-reporting-earnings-on-august-11-2022-08-08 [3] UPS earnings: https://www.nasdaq.com/articles/ups-earnings-release-date-2022-08-08 [4] Canadian companies reporting earnings: https://www.financialpost.com/investing/stock-watch/canadian-companies-reporting-earnings-in-the-week-of-august-11-2022-08-08
- next week, AMC Entertainment is anticipated to report their second quarter earnings, with an expected revenue increase of over 30%. This follows a variety of significant companies sharing their earnings results in the current week, providing investors with valuable insights.
- In the tech sector, Cisco Systems is predicted to report their fourth quarter earnings on Wednesday, August 13. This event comes as companies like Alibaba, Applied Materials, and others are scheduled to announce their earnings on Thursday, August 14, creating a week packed with important financial updates in technology and business.
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