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Will the Fed Notice Oil's Crash? & Today's Stocks to Watch: MU, FDX, WBA
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On today’s episode of Free Lunch, Ryan McQueeney discusses the crash in oil prices and the Fed’s monthly meeting. He also recaps earnings from FedEx and Micron. Later, Ryan takes a look at upcoming reports from Walgreens and Nike.
Free Lunch is presented by Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Twitter, and other major streaming platforms.
U.S. stocks were higher in morning trading, as Wall Street looked to spark a rally ahead of today’s Fed announcement—albeit cautiously. There’s a growing hope that the Fed will choose not to hike rates this month, although most investors are just hoping for dovish commentary on further rate hikes in 2019.
This tone comes amid a growing number of global economic uncertainties, including a crash in oil prices. The Fed isn’t known for adjusting its monetary policy based on volatility in the energy market, but falling oil prices mean American producers are straddling the line of profitability, meaning higher borrowing costs could put additional pressure on the industry.
Furthermore, two new earnings reports from Tuesday afternoon seemed to warn of sluggish conditions in key markets. FedEx (FDX - Free Report) cuts its guidance for 2019 on the back of weak global trade and slowing activity in Europe, while Micron (MU - Free Report) confirmed that the memory chip business has likely passed its growth peak.
On the first segment of today’s Free Lunch, Ryan covers all of these stories, providing viewers with the key facts and his own perspective on the headlines. Later, he looks ahead to Thursday, when Walgreens (WBA - Free Report) and Nike (NKE - Free Report) will post their latest quarterly financial results.
Walgreens shares have pulled back recently, but the stock is still up over 16% in the past six months, and the #3 (Hold)-ranked company will hope to reignite momentum with a solid report tomorrow morning. Our latest Zacks Consensus Estimates are pegged at $1.43 per share for earnings and $33.58 billion for revenue, which represent year-over-year growth rates of 11.7% and 9.3%, respectively.
Nike will also be hoping to spark fresh momentum, as the stock had gained 35% on the year before tumbling from its 52-week high. The apparel giant is report earnings of $0.45 per share, down about 2.2% from the year-ago period. Revenue is projected to be $9.16 billion, which would represent year-over-year growth of 7.1%.
Want to hear more about these upcoming earnings reports? Make sure to check out today’s episode of Free Lunch!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Will the Fed Notice Oil's Crash? & Today's Stocks to Watch: MU, FDX, WBA
On today’s episode of Free Lunch, Ryan McQueeney discusses the crash in oil prices and the Fed’s monthly meeting. He also recaps earnings from FedEx and Micron. Later, Ryan takes a look at upcoming reports from Walgreens and Nike.
Want more video content from Zacks? Subscribe to Zacks Investment News now!
Free Lunch is presented by Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Twitter, and other major streaming platforms.
U.S. stocks were higher in morning trading, as Wall Street looked to spark a rally ahead of today’s Fed announcement—albeit cautiously. There’s a growing hope that the Fed will choose not to hike rates this month, although most investors are just hoping for dovish commentary on further rate hikes in 2019.
This tone comes amid a growing number of global economic uncertainties, including a crash in oil prices. The Fed isn’t known for adjusting its monetary policy based on volatility in the energy market, but falling oil prices mean American producers are straddling the line of profitability, meaning higher borrowing costs could put additional pressure on the industry.
Furthermore, two new earnings reports from Tuesday afternoon seemed to warn of sluggish conditions in key markets. FedEx (FDX - Free Report) cuts its guidance for 2019 on the back of weak global trade and slowing activity in Europe, while Micron (MU - Free Report) confirmed that the memory chip business has likely passed its growth peak.
On the first segment of today’s Free Lunch, Ryan covers all of these stories, providing viewers with the key facts and his own perspective on the headlines. Later, he looks ahead to Thursday, when Walgreens (WBA - Free Report) and Nike (NKE - Free Report) will post their latest quarterly financial results.
Walgreens shares have pulled back recently, but the stock is still up over 16% in the past six months, and the #3 (Hold)-ranked company will hope to reignite momentum with a solid report tomorrow morning. Our latest Zacks Consensus Estimates are pegged at $1.43 per share for earnings and $33.58 billion for revenue, which represent year-over-year growth rates of 11.7% and 9.3%, respectively.
Nike will also be hoping to spark fresh momentum, as the stock had gained 35% on the year before tumbling from its 52-week high. The apparel giant is report earnings of $0.45 per share, down about 2.2% from the year-ago period. Revenue is projected to be $9.16 billion, which would represent year-over-year growth of 7.1%.
Want to hear more about these upcoming earnings reports? Make sure to check out today’s episode of Free Lunch!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>