Here are the most notable earnings releases for the trading week beginning July 9th, 2018- ($JPM $PEP $C $HELE $WFC $DAL $SMPL $FAST $ANGO $MSM $PNC $WDFC $FRC $CBSH $SLP $AIR $EXFO $SKIS $SAR $OZRK $ASPU $VOXX $NTIC $KSHB) JPMorgan Chase & Co. $104.06 JPMorgan Chase & Co. (JPM) is confirmed to report earnings at approximately 6:50 AM ET on Friday, July 13, 2018. The consensus earnings estimate is $2.23 per share on revenue of $27.66 billion and the Earnings Whisper ® number is $2.32 per share. Investor sentiment going into the company's earnings release has 66% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 22.53% with revenue decreasing by 4.33%. Short interest has decreased by 14.4% since the company's last earnings release while the stock has drifted lower by 9.5% from its open following the earnings release to be 2.7% below its 200 day moving average of $106.92. Overall earnings estimates have been revised higher since the company's last earnings release. On Wednesday, June 20, 2018 there was some notable buying of 6,068 contracts of the $102.00 put expiring on Friday, July 20, 2018. Option traders are pricing in a 2.7% move on earnings and the stock has averaged a 1.3% move in recent quarters. PepsiCo, Inc. $109.56 PepsiCo, Inc. (PEP) is confirmed to report earnings at approximately 6:00 AM ET on Tuesday, July 10, 2018. The consensus earnings estimate is $1.51 per share on revenue of $16.12 billion and the Earnings Whisper ® number is $1.53 per share. Investor sentiment going into the company's earnings release has 67% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 0.67% with revenue increasing by 2.61%. Short interest has increased by 65.7% since the company's last earnings release while the stock has drifted higher by 7.1% from its open following the earnings release to be 0.4% below its 200 day moving average of $109.98. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, June 29, 2018 there was some notable buying of 5,143 contracts of the $105.00 put expiring on Friday, July 20, 2018. Option traders are pricing in a 2.5% move on earnings and the stock has averaged a 0.6% move in recent quarters. Citigroup, Inc. $67.14 Citigroup, Inc. (C) is confirmed to report earnings at approximately 8:00 AM ET on Friday, July 13, 2018. The consensus earnings estimate is $1.56 per share on revenue of $18.58 billion and the Earnings Whisper ® number is $1.62 per share. Investor sentiment going into the company's earnings release has 68% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 22.83% with revenue decreasing by 15.41%. Short interest has decreased by 12.9% since the company's last earnings release while the stock has drifted lower by 8.3% from its open following the earnings release to be 7.1% below its 200 day moving average of $72.30. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, July 6, 2018 there was some notable buying of 6,092 contracts of the $68.00 call expiring on Friday, July 13, 2018. Option traders are pricing in a 2.9% move on earnings and the stock has averaged a 1.4% move in recent quarters. Helen of Troy Ltd. $101.95 Helen of Troy Ltd. (HELE) is confirmed to report earnings at approximately 6:45 AM ET on Monday, July 9, 2018. The consensus earnings estimate is $1.43 per share on revenue of $333.30 million and the Earnings Whisper ® number is $1.53 per share. Investor sentiment going into the company's earnings release has 46% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 1.42% with revenue decreasing by 7.31%. Short interest has increased by 66.8% since the company's last earnings release while the stock has drifted higher by 16.0% from its open following the earnings release to be 11.2% above its 200 day moving average of $91.65. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, July 6, 2018 there was some notable buying of 1,089 contracts of the $105.00 call and 921 contracts of the $95.00 put expiring on Friday, July 20, 2018. Option traders are pricing in a 5.8% move on earnings and the stock has averaged a 4.3% move in recent quarters. Wells Fargo & Co. $55.89 Wells Fargo & Co. (WFC) is confirmed to report earnings at approximately 8:00 AM ET on Friday, July 13, 2018. The consensus earnings estimate is $1.12 per share on revenue of $21.54 billion and the Earnings Whisper ® number is $1.16 per share. Investor sentiment going into the company's earnings release has 46% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 4.67% with revenue decreasing by 11.72%. Short interest has increased by 28.2% since the company's last earnings release while the stock has drifted higher by 7.5% from its open following the earnings release to be 1.6% below its 200 day moving average of $56.79. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, July 6, 2018 there was some notable buying of 12,268 contracts of the $57.50 call expiring on Friday, August 17, 2018. Option traders are pricing in a 3.0% move on earnings and the stock has averaged a 2.1% move in recent quarters. Delta Air Lines, Inc. $49.58 Delta Air Lines, Inc. (DAL) is confirmed to report earnings at approximately 7:00 AM ET on Thursday, July 12, 2018. The consensus earnings estimate is $1.75 per share on revenue of $11.62 billion and the Earnings Whisper ® number is $1.74 per share. Investor sentiment going into the company's earnings release has 61% expecting an earnings beat The company's guidance was for earnings of $1.80 to $2.00 per share. Consensus estimates are for year-over-year earnings growth of 6.71% with revenue increasing by 7.68%. Short interest has increased by 16.1% since the company's last earnings release while the stock has drifted lower by 5.7% from its open following the earnings release to be 6.5% below its 200 day moving average of $53.05. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, July 6, 2018 there was some notable buying of 7,511 contracts of the $44.00 put expiring on Friday, August 17, 2018. Option traders are pricing in a 3.9% move on earnings and the stock has averaged a 2.0% move in recent quarters. Simply Good Foods Company $15.15 Simply Good Foods Company (SMPL) is confirmed to report earnings at approximately 7:00 AM ET on Tuesday, July 10, 2018. The consensus earnings estimate is $0.10 per share on revenue of $101.14 million and the Earnings Whisper ® number is $0.12 per share. Investor sentiment going into the company's earnings release has 45% expecting an earnings beat. Short interest has increased by 27.6% since the company's last earnings release while the stock has drifted higher by 12.2% from its open following the earnings release to be 14.9% above its 200 day moving average of $13.18. Overall earnings estimates have been revised lower since the company's last earnings release. Option traders are pricing in a 9.4% move on earnings and the stock has averaged a 0.8% move in recent quarters. Fastenal Co. $48.21 Fastenal Co. (FAST) is confirmed to report earnings at approximately 6:50 AM ET on Wednesday, July 11, 2018. The consensus earnings estimate is $0.66 per share on revenue of $1.26 billion and the Earnings Whisper ® number is $0.66 per share. Investor sentiment going into the company's earnings release has 71% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 26.92% with revenue increasing by 12.35%. Short interest has decreased by 16.3% since the company's last earnings release while the stock has drifted lower by 6.6% from its open following the earnings release to be 6.9% below its 200 day moving average of $51.80. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, July 6, 2018 there was some notable buying of 4,913 contracts of the $48.00 put and 4,860 contracts of the $50.00 call expiring on Friday, July 20, 2018. Option traders are pricing in a 3.7% move on earnings and the stock has averaged a 4.8% move in recent quarters. AngioDynamics $23.65 AngioDynamics (ANGO) is confirmed to report earnings at approximately 7:00 AM ET on Wednesday, July 11, 2018. The consensus earnings estimate is $0.21 per share on revenue of $88.99 million and the Earnings Whisper ® number is $0.23 per share. Investor sentiment going into the company's earnings release has 68% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 10.53% with revenue increasing by 2.39%. Short interest has increased by 21.2% since the company's last earnings release while the stock has drifted higher by 46.8% from its open following the earnings release to be 29.8% above its 200 day moving average of $18.22. Overall earnings estimates have been revised higher since the company's last earnings release. Option traders are pricing in a 6.4% move on earnings and the stock has averaged a 4.7% move in recent quarters. MSC Industrial Direct Co. Inc. $83.73 MSC Industrial Direct Co. Inc. (MSM) is confirmed to report earnings at approximately 6:45 AM ET on Wednesday, July 11, 2018. The consensus earnings estimate is $1.39 per share on revenue of $832.13 million and the Earnings Whisper ® number is $1.42 per share. Investor sentiment going into the company's earnings release has 57% expecting an earnings beat The company's guidance was for earnings of $1.37 to $1.43 per share on revenue of $820.00 million to $835.00 million. Consensus estimates are for year-over-year earnings growth of 27.52% with revenue increasing by 11.86%. Short interest has decreased by 29.2% since the company's last earnings release while the stock has drifted lower by 11.7% from its open following the earnings release to be 4.5% below its 200 day moving average of $87.71. Overall earnings estimates have been revised higher since the company's last earnings release. Option traders are pricing in a 5.0% move on earnings and the stock has averaged a 6.3% move in recent quarters. Here are the most anticipated ERs for this upcoming trading week ahead ***Check mark next to the stock symbols denotes confirmed earnings release date & time*** Monday 7.9.18 Before Market Open: Spoiler: CLICK HERE TO VIEW MONDAY'S AM EARNINGS TIMES & ESTIMATES! Monday 7.9.18 After Market Close: Spoiler: CLICK HERE TO VIEW MONDAY'S PM EARNINGS TIMES & ESTIMATES! NONE. Tuesday 7.10.18 Before Market Open: Spoiler: CLICK HERE TO VIEW TUESDAY'S AM EARNINGS TIMES & ESTIMATES! Tuesday 7.10.18 After Market Close: Spoiler: CLICK HERE TO VIEW TUESDAY'S PM EARNINGS TIMES & ESTIMATES! Wednesday 7.11.18 Before Market Open: Spoiler: CLICK HERE TO VIEW WEDNESDAY'S AM EARNINGS TIMES & ESTIMATES! Wednesday 7.11.18 After Market Close: Spoiler: CLICK HERE TO VIEW WEDNESDAY'S PM EARNINGS TIMES & ESTIMATES! Thursday 7.12.18 Before Market Open: Spoiler: CLICK HERE TO VIEW THURSDAY'S AM EARNINGS TIMES & ESTIMATES! Thursday 7.12.18 After Market Close: Spoiler: CLICK HERE TO VIEW THURSDAY'S PM EARNINGS TIMES & ESTIMATES! Friday 7.13.18 Before Market Open: Spoiler: CLICK HERE TO VIEW FRIDAY'S AM EARNINGS TIMES & ESTIMATES! Friday 7.13.18 After Market Close: Spoiler: CLICK HERE TO VIEW FRIDAY'S PM EARNINGS TIMES & ESTIMATES! NONE.
B.I.G. Tips – Analysts Cautiously Pessimistic Jul 9, 2018 Earnings season kicks off this week as the first of the major companies start to report Q2 numbers. Most of the big names reporting are Financials like Citigroup (C), JPMorgan Chase (JPM), PNC, and Wells Fargo (WFC), which all report on Friday morning. Besides these names, the only non-Financials of note are Pepsi (PEP) on Tuesday morning and Delta (DAL) before the open on Thursday. The pace of reports picks up next week when 135 companies in the S&P 1500 are expected to report, but the peak period of earnings season will be in the two weeks that follow as more than 950 companies are scheduled to report. That’s nearly two-thirds of the entire index in just two weeks! The busiest day during that period will be on 7/26 when 193 companies in the S&P 1500 are expected to report in a single day, while the second busiest day of earnings season is one week later on 8/2 when another 175 companies will report. For a more detailed rundown of the earnings schedule for the upcoming season, please see our Interactive Earnings Calendar, and to prepare for how individual companies tend to react to earnings, check out our Earnings Screener (available to all Institutional clients).
Bespoke’s Most Volatile Stocks on Earnings Ahead of Q2 Earnings Season Jul 9, 2018 The 2nd quarter earnings reporting period is set to begin in earnest next week. Over the next month, roughly 2,000 public companies will release their Q2 results. While the calendar is relatively empty this week, things start to kick into gear next week as shown in the chart below. Starting with the week of July 23rd, investors will be deluged with dozens (and sometimes hundreds) of reports on a daily basis. The peak week for earnings season comes from July 30th through August 3rd when we hear from 763 companies. The peak day for earnings is Thursday, August 2nd when 268 companies will report. As we do ahead of each earnings season, below is our updated list of the most volatile stocks on earnings. These are the stocks that have historically experienced the biggest one-day stock price reactions (to the upside or downside) to their quarterly earnings reports. For a stock that reports earnings before the open of trading, we look at its change the next trading day. For a stock that reports earnings before the open, we look at that trading day’s change. To make the list below, a stock must have at least 4 years worth of quarterly earnings reports (16 reports). It also must be set to report earnings between now and mid-August. As shown, Groupon (GRPN) is the most volatile stock on earnings with an average absolute one-day price change of +/-16.25%. The Container Store (TCS) ranks as the second most volatile with an average one-day move of +/-15.26%. GRPN is set to report on the morning of August 1st, while TCS is set to report after the close on the same day. Rounding out the top five are Yelp (YELP), Infinera (INFN), and LendingTree (TREE). Each of these stocks have historically moved at least 14% on their earnings reaction days. Other notables on the list include Netflix (NFLX) — which is by far the largest stock on the list — with an average one-day change of +/-13.37% on earnings, Twitter (TWTR), First Solar (FSLR), Nutrisystem (NTRI), iRobot (IRBT), Pandora (P), and Tableau Software (DATA).
Here are the scheduled earnings releases after the market close on Tuesday (7/10/18) and before the market open on Wednesday morning (7/11/18)- ($FAST $MSM $ANGO $WDFC $SLP $AIR $EXFO $SAR $VOXX)
Can Companies Keep Up Strong Beat Rates in Q2 Earnings Season? Jul 11, 2018 One thing we’ll be watching closely this earnings season is whether companies can keep up the extraordinarily high beat rates seen over the past two quarters. Over the past two earnings seasons, even though analysts had to up their estimates quite a bit due to the Trump corporate tax cuts, companies were easily able to beat expectations. Since 1999, 62.1% of earnings reports have reported EPS that were greater than consensus expectations. As shown below, though, the last two quarters saw much higher than average beat rates. Not only have bottom line EPS beat rates been strong, but top-line revenue beat rates have been strong as well. Revenue beat rates over the last two earnings seasons were higher than any quarter since Q4 2004. The chart below takes the average of each quarter’s earnings and revenue beat rate. When looking at the strength of both the top and bottom line beat rate each earnings season, the only other two-quarter period that showed stronger beat rates than the last two quarters was back in Q4 2003 and Q1 2004. Needless to say, investors have gotten used to stronger than expected earnings reports over the last six months. If companies aren’t able to keep up the pace this season, we think the market will struggle.
And finally here are the scheduled earnings releases after the market close on Thursday (7/12/18) and before the market open on Friday morning (713/18)- ($JPM $C $WFC $PNC $FRC $ASPU $INFY $KSHB $PIXY)
