Costco, Dollar stores, Salesforce lead 'go away' week's earnings parade
13 companies on the S&P 500 will report earnings this week
"Sell in May and go away" is a time-worn adage for market mavens and watchers. It stems from the advent of summer and a dip in market activity thanks to vacations and the general lazy day feeling that runs through September. However, that was before the coronavirus shutdown.
As markets head into the last week of May trading and earnings season winds down, no one is quite sure if that old adage will continue for this summer.
So far 479 members of the S&P 500 have reported earnings so far and another 13 deliver numbers this week. Some of the highlights to watch for include:
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AZO | AUTOZONE INC. | 3,191.76 | +43.67 | +1.39% |
HAS THE MARKET REBOUNDED TOO MUCH AND TOO QUICKLY?
Autozone
The car parts retailer's stock is up more than 6 percent compared to a year ago and if history is any gauge, Tuesday should provide more good news for the company's investors. According to financial site Seeking Alpha, over the last two years, "The Zone" has beaten earnings per share estimates 88 percent of the time and has beaten revenue estimates 63 percent of the time.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP. | 960.89 | -3.12 | -0.32% |
Costco
Using rival BJ's Wholesale Club's earnings from last week as a gauge this big box should also be a big winner on Thursday. BJ's beat analysts estimates -- due in part to coronavirus panic buying. Sales surged 27 percent and revenue rose 21 percent. As for Costco, its stock is up over 21 percent compared to a year ago. The stock has a 52-week trading range of $233.05 to $325.26.
AMAZON, COSTCO, WALMART LAND TOP FAVORABILITY RATINGS FOR FOOD RETAILERS DURING CORONAVIRUS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DG | DOLLAR GENERAL CORP. | 76.22 | +1.55 | +2.08% |
| DLTR | DOLLAR TREE INC. | 71.50 | +2.38 | +3.44% |
Dollar General & Dollar Tree
Recently Goldman Sachs gave both discount retailers a buy rating and some of that is ironic because of the coronavirus infused economic downturn. "We see the dollar stores as well-positioned in this uncertain macroeconomic backdrop. The dollar stores bring a powerful combination of value and convenience to the cash-strapped consumer," the bank wrote in an analysts' note. Both report before the opening bell on Thursday.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CRM | SALESFORCE INC. | 330.01 | -13.20 | -3.85% |
Salesforce
The company has been making plenty of headlines during the shutdown from helping New York City develop a coronavirus tracing program to donating 48 million pieces of personal protective equipment including masks, gowns, suits and face shields to frontline healthcare workers. Market wise, the stock is up more than 15 percent compared to a year ago and the analysts' consensus according to Thomson Reuters calls for earnings per share of $0.69 on $4.85 billion in revenue when its numbers are released Thursday.