We Cover Weekly Performance Of Our Indexes | Also Breakdown Our Earnings To Watch This Week
Last week the market finally shook off the fears of rising interest rates from the Central Bank after the Federal Reserve came out and said they would hold rates at the current level which is a 23 year high. Last week our indexes were able to add some value to their bottom line to close out the week, lets take a look at the weekly performance of our indexes:
The Nasdaq Composite added 0.93%
The S&P500 added 0.27%
The Dow Jones Industrial was able to add 1.03%
This week brings us fresh economic data and a new batch of earnings to watch out for. Keep reading along to see what economic events we will be tracking and what the expected outcomes for some of our favorite earnings plays this week.
Our Earnings To Watch 👀
📅MONDAY | MAY 6th
| May 6th After Hours
The company is included in the AI bubble conversation and a majority of investors see this as a well-positioned ride for this week, Palantir is one of the markets biggest winners in the last 12 months with the stock seeing a 198% return. Some bearish stances on the company come from the fact that the company is still developing its total addressable market but with the B2B AI sales train they could hop on to and with a strong financial footing could propel this stock towards the $50 market price. Lets take a look at the expected figures:
EPS expected $0.08
Revenue expected $625.33M
In the last 12 months they have beat Earnings 3/4 quarters with the only miss coming in June 2023
| May 6th After Hours
With a weakening EV market that seems to be shrinking month over month and Lucid’s cash burn concerns will be hoisted into the spotlight after hours for its Q1 reporting. The company is currently producing the “Air” which comes at a $71k sticker price before taxes and fees, the company has announced it will be producing cheaper cars in the future. Q1 lucid reported production of 1.7k Airs and deliveries of 1.9k, the cars come with a 40% sales mark-up. Let’s take a look at the predictions:
EPS expected -$0.25
Revenue expected $156.99M
The EV makers has beat EPS estimates 3/4 last quarters with the last miss coming in June 2023 | Revenue has been missed ever quarter in the last 12 months
| May 6th After Hours
The telehealth platform boosted investor confidence with their expansion in the field over the last quarter, showing significant effort to gain subscribers, with a total market of 100M+ people who struggle with what Hims & Hers provides. The focus for Q1 will be enhancing its suite of offerings across the various issues they treat, recently they added Hard Mints in Men’s Sexual Health, Hair Blends in Women’s Dermatology, the first multi-action offers in Heart Support and its weight management offering. Let’s take a look at our expected numbers:
EPS expected $0.02 with a -$0.05 figure this time last year
Revenue expected $270.83M
The company has beat earnings 3/4 last quarters, they beat EPS 3/4 quarters with the last miss coming in DEC 2023 | Revenue has been beat every quarter in the last 12 months
📅 TUESDAY | MAY 7TH
| May 7th Before Market
Disney is primed to report earnings Tuesday before the market bell to report its Q2 ‘24 fiscal earnings. Subscriber growth is a key area that investors are going to be looking for while the company is trying to work towards a profit in its streaming sector. Currently investors believe their streaming service with Hulu is the closest market to an upside that the company has, lets take a look at some expected numbers for the upcoming report:
Expected EPS = $1.09
Expected Revenue = $22.08B
Subscriber Growth | Hulu = 50M & Disney+ = 117.2M
| May 7th Before Market
Company is set to release earnings before market open on Tuesday this week, in Q1 of 2024 the company produced 43 Class 8 Nikola FCEV which is up from the 42 units produced in Q4 ‘23. They also opened its first modular refueling station in Ontario, CA & it’s first refueling station in Edmonton, Alberta in Q1 ‘24. Let’s take a look at the predictions for this current quarter:
Expected EPS = -$0.09
Expected Revenue = $15.05M
The company has not beat EPS & Revenue both since June 2023 | Have only beat revenue once in the last 12 months & EPS 2x in the last 12 months respectively
| May 7th After Market
The EV maker is set to report earnings after market on Tuesday during a time where there is a shift in the EV sector. The last report showed promising revenue growth but still missed earnings and had a decline in share price as a result. This year Rivian has had 2 rounds of layoffs while delaying a factoring opening in Georgia, job cuts are still on the table with sales slowing and the overall EV market going through a correction. Each vehicle they produced in Q1 (13,980) they lost money on, this brings in to question at one point do they break even? These are the main factors heading into earnings this week, now lets take a look at what the expected numbers are:
Expected EPS = -$1.13
Expected Revenue = $1.12B
The company has beat EPS 3/4 last quarters missing in Dec ‘23 | Revenue has been hit 3/4 quarters as well with the last miss coming in Mar ‘23
📅 Wednesday | May 8th
| May 8th Before Market Open
The ride-share giant is set to report before market open, lately they have put efforts to diversify and expand its ride-hailing and delivery business. Uber has seen a 42.4% surge in the last 6 months outcompeting the sector that has only grown 24.9%. With people going back into work and the world back to “normal” Uber has seen a surge in its demand, bookings are up 27% YoY, in its delivery sector it has seen a 13% increase YoY. Let’s take a look at the estimates:
Expected EPS = $1.23
Expected Revenue –
The company has beat EPS estimates 3 times in the last 12 months | They have only beat revenue 2 of 3 times in the last 12 months
| May 8th Before Market
Affirm is set to report earnings before the bell, currently there is no news to report outside of some insider trading. Let’s take a look at our estimates:
Expected EPS = -$0.70
Expected Revenue = $549.42M
The company has beat EPS 3 of the last 4 quarters with the only miss coming in June 2023 | Revenue has been hit every Quarter in the last 12 months
