Halloween is waiting at the other end of October, and investors are hoping that the market holds more treats than tricks. Between the start of earnings season and new product releases, it's going to be a busy month of news on the investing front.
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Wall Street never takes a month off, and the next few weeks will keep most investors awake. Here are a few of the things that I plan to approach with eyes wide open this month.
Earnings season won't pick up in earnest until the latter half of this month, but we're still getting a trickle of reports in the coming days. One big name reporting later this week is Costco (NASDAQ: COST). The warehouse club operator checks in with fresh financials on Thursday afternoon.
Costco had a growth lull in fiscal 2016, but it's been picking up the pace this year. Year-over-year revenue gains have accelerated for three consecutive quarters, and analysts see Costco posting double-digit growth on Thursday for the first time in five years.
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One of the first tech heavyweights to report quarterly results this season is Netflix (NASDAQ: NFLX), stepping up after the market close on Oct. 16. The market darling is rolling this year, up 46% so far in 2017. It's not as hot as it was in 2013 and 2015 when Netflix was the biggest gainer among all S&P 500 components, but there seems to be something special about owning the leading premium video player on odd-numbered years.
Netflix closed out the second quarter with nearly 104 million streaming subscribers worldwide, and its guidance calls for it to have topped 108 million accounts by the end of the third quarter that came to a close over the weekend. Netflix is targeting 33% revenue growth in its latest quarter with profits nearly tripling along the way.
We saw a lukewarm market reception for Apple's (NASDAQ: AAPL) iPhone 8 last month, but analysts didn't freak out. Wall Street feels that that it will be the iPhone X -- hitting the market just six weeks after the iPhone 8 -- that will be the real frenzy builder this cycle for the consumer tech giant. Apple begins taking pre-orders for the iPhone X on Oct. 27, and with reports suggesting supply shortages, it will be interesting to see if Apple is able to keep up with consumer demand.
Folks who can't score an Apple iPhone X pre-order on Oct. 27 can fire up Netflix to see the second season of Stranger Things. The retro horror series was a sleeper hit for Netflix last summer, and it's back in time for Halloween later this month.
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