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Upcoming Earnings to Watch: MU, NKE, WBA

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Stocks were sliding on Friday morning thanks to sluggish economic data out of Europe and China as well as mixed earnings results from Thursday afternoon. Nevertheless, Wall Street did have some positives to think about, including the news that China is temporarily reducing tariffs on American-made cars as it looks to reach a trade deal with the United Sates.

Slowing global growth is certainly a concern for investors, but it looks like real progress is being made in the US-China trade war, which is likely still the top headwind holding down stocks heading into the New Year. A new earnings season is also on the horizon, and a fresh batch of companies have the opportunity to ease nerves if they can post strong results.

With that said, investors should remember to use the Zacks Earnings Calendar to plan out their schedules for earnings, dividend announcements, and other important financial releases. This handy tool is your perfect one-stop-shop to properly prepare for the market events that will have an impact on your own portfolio.

We have made this task even easier today by selecting a few of next week’s top reports to preview right now. Let’s take a closer look at a few of the earnings announcements due during the week of December 17.

1. Micron Technology, Inc. ((MU - Free Report) )

Once a Wall Street darling, Micron is approaching its next report in a state of uncertainty. The stock has plummeted more than 40% from its 52-week high, and analysts have slashed their expectations for future periods. These negative estimate revisions have earned MU a Zacks Rank #4 (Sell). Nevertheless, it could always begin to mount a recovery if it beat these expectations.

For the to-be-reported quarter, analysts expect Micron to post earnings of $2.93 per share and revenue of $8.01 billion, according to our Zacks Consensus Estimates. These results would represent year-over-year growth of 19.6% and 17.7%. Guidance will be important, too. Full-year estimates for earnings are sitting at $9.84 per share, so look for this to be a key indicator for Micron. The company is set to report after the market closes on December 18.

 

2. Walgreens Boots Alliance, Inc. ((WBA - Free Report) )

Pharmacy retailer Walgreens Boots is scheduled to release its latest quarterly financial results before the bell on December 20. Shares were moving sharply lower in morning trading Friday, but the stock is still up roughly 25% over the past six months. Walgreens, a #3 (Hold)-ranked stock, will look to continue this momentum next week.

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. Walgreens' full fiscal year ends in August 2019. For the full year, analysts are looking for earnings of $6.53 per share and revenue of $137.39 billion.

 

3. Nike, Inc. ((NKE - Free Report) )

In 2018, Nike once again found itself on trend and in control of the North American sports apparel market. The stock rallied almost 35% into a 52-week high in late September, making it one of the hottest segment leaders on Wall Street. But market volatility punished the momentum stock, and shares are now down about 15% from this peak.

Nike is slated to release its latest report after the bell on December 20. Its earnings are expected to come in at $0.45 per share, down 2.2% from the prior-year quarter. Revenue is projected to be $9.16 billion, which would represent year-over-year growth of 7.1%. Full-year earnings and revenue growth is expected to be around 8.7% and 7.3%, respectively.

 

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