Earnings season will wind down in the coming week ahead of the Christmas holiday, but there is a light flurry of earnings reports and economic data for investors to watch for.
Monday, December 18
HEICO (NYSE:HEI), the aerospace and electronics company, is the headliner on an otherwise quiet day of US earnings.
Across the pond, Hollywood Bowl — no, not the Los Angeles concert venue — will report in London. The bowling alley operator will be among the few firms reporting during what is otherwise a quiet run-up to Christmas ...read the preview.
Economic announcements: Home Builder Confidence Index
Tuesday, December 19
FedEx (NYSE:FDX) is expected to grow its profits but report lower revenues when it delivers its fiscal second-quarter 2024 financial results after the closing bell.
Wall Street analysts expect the package delivery company to report earnings per share (EPS) of $4.13, up almost 30% from the year-ago quarter’s $3.18 ...read the preview.
Others due to report:
Earnings: Worthington Enterprises, Steelcase
Economic announcements: Housing Starts, Building Permits
Wednesday, December 20
Micron Technology, Inc. (NASDAQ:MU) is expected to hand down strong guidance when it reports its fiscal first-quarter financial results on Wednesday, December 20, 2023, analysts at UBS believe.
Ahead of Micron’s report, the analysts awarded the stock a ‘Buy’ rating and raised their price target from US$76 to US$90 ...read the preview.
Others due to report:
Earnings: BlackBerry, MillerKnoll
Economic announcements: MBA Mortgage Applications, Current Account, Existing Home Sales, Crude Oil Inventories
Thursday, December 21
Nike Inc (NYSE:NKE) earnings will be in focus Thursday, about a month after the footwear and apparel retailer's report made a pair of changes to its executive team in an effort to enhance its brand appeal.
Others due to report:
Earnings: AAR (NYSE:AIR), Mission Produce
Economic announcements: GDP, Continuing Claims, Initial Jobless Claims, Personal Consumption Expenditures, Philadelphia Fed Index
Friday, December 22
The end of the week brings key economic data, including personal income and spending along with PCE inflation, which remains a crucial figure the Fed is keeping an eye on, with the potential for rate cuts as soon as March getting markets excited this week.
Deutsche Bank forecasts month-over-month growth in income and consumption with core personal consumption expenditures staying at 0.2%.
There will also be the durable goods orders data, where estimates are for the core gauge to tick higher 0.1% on the month from -0.3% in October.
Economic announcements: Personal Spending, New Homes Sales, University of Michigan Confidence