Despite a shortened week, there will be plenty of noteworthy companies reporting earnings with possible trades on stocks making double-digit percentage moves. I will be doing some research and homework to target some of the stocks that could make tremendous moves this week, so let’s look at the group.
After today’s close, Danaos (DAC) will report their results and is the only major company worth noting.
On Wednesday, Analog Devices (ADI), Box (BOX), J. Jill Group (JILL), Micheal Kors Holdings (KORS), Palo Alto Networks (PANW), Semtech (SMTC) and Vera Bradley (VRA) will confess their numbers. All of these stocks could move 5%-10%, or more, especially BOX and PANW. A sneaky play could be a bullish call on JILL as options are available to trade on all of the aforementioned stocks.
For Thursday, Broadcom (AVGO), Ciena (CIEN), Cooper Companies (COO), Dollar General (DG), Express (EXPR), Five Below (FIVE), Lululemon Athletica (LULU), Mobileye (MBLY), VMware (VMW), Workday (WDAY) and Zumiez (ZUMZ).
There could be a trade in FIVE, as shares look poised for a continued breakout, or a major backtest if earnings come in light. Shares have made run from $39 in mid-March to a recent $54. The company matched estimates for a profit of 90 cents last quarter and has topped estimates the three previous quarters by a penny, twice, and 2-cents, respectively.
Friday’s action is light with the recent IPO, Canada Goose (GOOS), scheduled to report ahead of the opening bell. The company is expected to report a loss of 15 cents a share.
Turning our focus to the market, the Dow is sliding 37 points to 21,043 while the S&P 500 is off a point to 2,414. The Nasdaq is down 3 points to 6,206 and the Russell 2000 is falling 9 points to 1,373.
I have updated our current trades so let’s go check the tape. I’m also looking at adding 1-2 new trades this week, with one possibly being ahead of today’s close so stay close to your email inbox.