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Earnings

5 Stocks to Watch This Week & 5 Predictions

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Earnings season may be over for most companies, but there are still some notable ones that are reporting on their quarterly results this coming week that investors may want to keep an eye on. Below are the stocks I’ll be watching and how I expect they’ll do:

Fedex Corp (NYSE:FDX) will release its Q4 earnings on Tuesday after the markets close. The shipping company has missed on earnings for four straight quarters and the last time it got even a decent boost on earnings day was back in 2016. I don’t see the stock breaking out of that trend unless it significantly outperforms. With the busy Christmas season out of the way, it’s unlikely this past quarter has been a particularly impressive one.

BlackBerry Ltd (TSX:BB)(NYSE:BB) releases its Q1 earnings of 2020 on Wednesday before the markets open. Although the company has beaten earnings three times in a row, that still hasn’t translated into a boost in price, at least, not for long. However, with the company finally reporting an operating profit last quarter, I’m hopeful that BlackBerry can build on those positive results and turn out another good performance. I’m cautiously optimistic about this one that it might be able to get a bump in price this week.

Corus Entertainment Inc (TSX:CJR.B) also releases its results on Wednesday and after a strong showing last quarter, we could see that trend continue, especially with the company recently announcing STACKTV, which will likely improve its outlook for the future given Corus will piggyback off Amazon’s popularity. If not for news that Shaw were selling its shares in Corus to fund its own growth, Corus stock likely would have continued to climb. I expect (and hope) that Corus is able to continue on its positive trajectory with another good earnings report this week.

Nike Inc (NYSE:NKE) has underperformed on its previous three quarterly releases and with the stock trading near its 52-week high, it’ll take a lot for the investors to value the company higher than where it is today. With concerns about the economy weighing on investors, I wouldn’t expect there to be a strong outlook for shoe sales if consumers suddenly have to worry about rising debt costs and having less disposable income. As a result, I expect Nike to be down this week.

Constellation Brands (NYSE:STZ) releases its quarterly results on Friday. The company has alternated between good and bad results over the past few periods but with Canopy Growth (TSX:WEED)(NYSE:CGC) reporting a big loss recently, it’s likely that Constellation’s investment in the pot company will pull down its results this quarter. Marijuana plays a key part in Constellation’s strategy and an under performing performance from Canopy Growth could undo any progress the beer maker has made during the quarter.

DISCLAIMER: The author of this article owns shares of Corus Entertainment Inc (TSX:CJR.B). This article is not a substitute for financial advice and this is not intended to persuade investors to buy or sell the stock(s) mentioned. Investors are recommended to seek professional investment advice or do their own analysis before making a stock purchase.

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