Earnings season isn’t over yet. There are over 350 companies expected to report earnings this week, including many of the top retailers.
But worries over the coronavirus impacts are overshadowing the end of earnings season.
Investors, however, can tune into those companies that are reporting earnings to hear directly from the companies what the outlook is and how big, or small, of an impact it may be having on business.
Not all of the impacts will be negative. Some businesses may actually see a spike in sales as a result.
How do you narrow down the list of those you should be paying attention to from the list of 350 companies?
These are five that the Street is going to be watching this week.
5 Earnings Charts to Watch This Week for Coronavirus Impacts
1. Ambarella (AMBA - Free Report) hasn’t missed since Zacks data began in 2016. Shares had spiked in early February but the recent market weakness has now hit. This is one of the big technology stocks reporting this week so investors interested in that sector, should tune in.
2. Splunk (SPLK - Free Report) has the best chart of the week. It hasn’t missed since Zacks data began in 2016 and shares had busted out to new 5-year highs. Earlier in the year, with the markets hitting new highs, Splunk had gained 14.6%. But like most, they have pulled back in the market correction. Can it regain momentum after the earnings report?
3. Zoom Video Communications (ZM - Free Report) has beat twice since going public in 2019. Its IPO started out hot, and then shares fell to new lows, before surging higher in 2020. They’re up 64% year-to-date and is one of the few stocks that gained into the correction. Why? If you aren’t going to fly to that business meeting, you may use Zoom Video to attend instead. Tune into the conference call to find out how business is doing since the virus hit.
4. Costco (COST - Free Report) has beat 4 quarters in a row. Shares were trading at 5-year highs after a hot 2019. They started 2020 up 11% before falling in the correction. But then there were pictures all over social media of people waiting in enormous lines to buy food, water and other supplies due to coronavirus fears. Could Costco see a sales surge as a result?
5. Funko (FNKO - Free Report) hasn’t missed since its 2017 IPO. That’s impressive. But it has already warned on Q4 sales and guided below consensus on 2020. This was before the coronavirus concerns even hit. What’s happened to sales since the warning? And what about its Chinese manufacturing?
[In full disclosure, the author of this article owns shares of FNKO in her own personal portfolio.]
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