The Week Ahead on Wall Street
Heading into the end of the quarter, it’s a lighter schedule for earnings calls. Nevertheless, here are a few names to keep an eye on this week…
On Wednesday, Winnebago Industries (WGO) reports quarterly earnings. Heading into its earnings report, the RV maker was downgraded to neutral from buy by Northcoast Research. The Wall Street firm thinks higher prices and extended wait times is leading to less demand and thus slower pre-orders for the company. Add an influx of competitors to the mix and Winnebago’s earnings report should be interesting.
Be on the lookout for a flurry of earnings reports on Thursday, including from drugstore chain operator Rite Aid (RAD). Rite Aid is seeing increased competition in the prescription medicine market, namely from Amazon (AMZN), which is considering opening up its own physical pharmacies. Investors will be paying close attention to what Rite Aid has to say about competition when it reports quarterly earnings.
Also Thursday, Nike (NKE) reports quarterly earnings. The sneaker and apparel company is facing a consumer boycott in China and its shares have been underperforming during the first half of 2021. Still Morgan Stanley just raised its price target on the stock to $185, implying around 40% upside. That has a better shot of happening if Nike paints a bullish picture when it reports earnings.
Be on the lookout for FedEx (FDX) to report quarterly earnings Thursday. The delivery company is looking for ways to reduce costs and just inked a deal with robotics company Nuro to meet that end. Through the partnership, FedEx will test autonomous vehicles in its delivery network. The pilot program is kicking off in Houston. It will be interesting to hear what FedEx says about that deal and other cost cutting initiatives.
On Friday, Carmax (KMX) reports quarterly earnings. One of the nation’s used car retailers is experiencing strong demand despite surges in prices for new and used vehicles. To meet the influx of customers Carmax is aiming to hire 1,800 automotive service professionals by the end of the summer.
The Week Ahead at SoFi
LGBTQIA+ individuals, managers, and allies—learn how to navigate coming out at work. Plus, tune in to The Essentials of Crypto—live on LinkedIn, Twitter, and Zoom. Register for these events in the SoFi app!
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.