Following new all-time highs on the S&P 500 and Nasdaq indexes — with those two and the Dow up in three of the past four weeks — Q2 earnings season enters its busiest week of the term. Marquee names like Apple (AAPL - Free Report) , ExxonMobil (XOM - Free Report) and Berkshire Hathaway (BRK.B - Free Report) will all post quarterly performance numbers this week, in what is also the last busy week before earnings shift down in the weeks ahead, at least among the S&P.
We also see an absence of economic data this Monday, though we expect a busy week ahead here, as well: Consumer Confidence and Spending, along with new jobs numbers from ADP (ADP - Free Report) and the U.S. Bureau of Labor Statistics (BLS) to close out the week. There will also be a decision by the Fed on interest rates, likely taking the nominal rate back down to 2.00-2.25%, where they haven’t been since December.
Although the Q2 earnings week will be busy, Mondays typically start off slowly. While we will see results after the closing bell from 2019’s star IPO holding, Beyond Meat (BYND - Free Report) — as well as reinsurance giant Everest Re and Southern California-based Del Taco — this morning we see but a dribbling of new earnings reports.
One of note is Cooper Tire & Rubber , which had been a Zacks Rank #2 (Buy)-rated stock ahead of its Q2 release. Earnings sorely missed expectations, reporting only 18 cents per share versus 51 cents expected (and 30 cents per share in the year-ago quarter). This is CTB’s first earnings miss in the last four quarters.
Revenues were also down from the Zacks consensus, by 5.5% to $679.13 million in the quarter, and well off the pace of $698.41 million in Q2 2018). Shares have tumbled as a result: down 11.5% in the news so far in today’s pre-market. This is after shares had already been under water 5.8% year to date. Expect downward revisions in the coming days, and the company to slide from its Buy-ranked status.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Following new all-time highs on the S&P 500 and Nasdaq indexes — with those two and the Dow up in three of the past four weeks — Q2 earnings season enters its busiest week of the term. Marquee names like Apple (AAPL - Free Report) , ExxonMobil (XOM - Free Report) and Berkshire Hathaway (BRK.B - Free Report) will all post quarterly performance numbers this week, in what is also the last busy week before earnings shift down in the weeks ahead, at least among the S&P.
We also see an absence of economic data this Monday, though we expect a busy week ahead here, as well: Consumer Confidence and Spending, along with new jobs numbers from ADP (ADP - Free Report) and the U.S. Bureau of Labor Statistics (BLS) to close out the week. There will also be a decision by the Fed on interest rates, likely taking the nominal rate back down to 2.00-2.25%, where they haven’t been since December.
Although the Q2 earnings week will be busy, Mondays typically start off slowly. While we will see results after the closing bell from 2019’s star IPO holding, Beyond Meat (BYND - Free Report) — as well as reinsurance giant Everest Re and Southern California-based Del Taco — this morning we see but a dribbling of new earnings reports.
One of note is Cooper Tire & Rubber , which had been a Zacks Rank #2 (Buy)-rated stock ahead of its Q2 release. Earnings sorely missed expectations, reporting only 18 cents per share versus 51 cents expected (and 30 cents per share in the year-ago quarter). This is CTB’s first earnings miss in the last four quarters.
Revenues were also down from the Zacks consensus, by 5.5% to $679.13 million in the quarter, and well off the pace of $698.41 million in Q2 2018). Shares have tumbled as a result: down 11.5% in the news so far in today’s pre-market. This is after shares had already been under water 5.8% year to date. Expect downward revisions in the coming days, and the company to slide from its Buy-ranked status.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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