We’re looking at another exciting week of earnings with several notable additions to the calendar.
Headline stocks include Coinbase Global (NASDAQ: COIN), Walt Disney Co (NYSE: DIS), Lordstown Motors Corp (NASDAQ: RIDE), AMC Entertainment Holdings Inc (NYSE: AMC), Tyson Foods, Inc. (NYSE: TSN), Coty Inc (NYSE: COTY), Occidental Petroleum Corporation (NYSE: OXY), Electronic Arts Inc (NASDAQ: EA), Peloton Interactive Inc (NASDAQ: PTON), Rivian Automotive Inc (NASDAQ: RIVN), Aurora Cannabis Inc (NASDAQ: ACB), and Honda Motor Co Ltd (NYSE: HMC).
Here's the lowdown on five of our favorites:
Coinbase Global (NASDAQ: COIN)
Coinbase Global (NASDAQ: COIN) stock is suffering as cryptocurrencies tank. The company reports its quarterly update on Tuesday, and investors will be keen to see signs of continued growth.
However, expectations are low as Coinbase has warned that its Q1 results are likely to underwhelm, particularly after a prosperous Q4.
The success of COIN stock largely hinges on the state of the broader crypto market. So, with bears out in force, Coinbase is getting hammered.
Coinbase Global Inc (COIN) closed at $103.74 on Friday after shares fell by -9.2%.
Over the past year, COIN stock has been down by -64.65%, while the S&P 500 is down -1.55% over the same period.
Consensus estimates from FactSet show expected EPS of -$0.01 and sales of $1.49bn.
Occidental Petroleum Corporation (NYSE: OXY)
Occidental Petroleum Corporation (NYSE: OXY) enjoyed a share price bump last week as it was revealed Warren Buffett’s Berkshire Hathaway (NYSE: BRK.B) has been buying more of the stock.
In recent months, OXY stock has also been boosted by rising oil and gas prices.
The oil exploration company is due to release its Q1 earnings results after the market close tomorrow. Bullish shareholders are expecting an outstanding quarter with positive earnings and revenue growth.
FactSet consensus estimates set EPS at $1.97 and sales at $7.78bn.
Over the past year, Occidental Petroleum Corporation (OXY)’s stock is up by 143.86%, while the S&P 500 is down -1.55% over the same period.
Peloton Interactive Inc (NASDAQ: PTON)
Peloton Interactive Inc (NASDAQ: PTON) is also due to report earnings tomorrow. Fans of PTON stock are keen to see a return to growth and will be watching subscriber numbers for hints to this effect.
Over the past year, Peloton Interactive Inc (PTON)’s stock is down by -82.06%, while the S&P 500 is -1.55% over the same period.
A rumor broke last week that Peloton plans to sell a 20% stake of the company and is looking for a buyer. This stock has long been considered a potential M&A target due to its niche popularity, product placement and consumer database.
Rivian Automotive Inc (NASDAQ: RIVN)
Rivian Automotive Inc (NASDAQ: RIVN) reports its fiscal earnings on 11 May. FactSet analyst consensus for its fiscal quarter ending 31 March has EPS at -$1.41 and sales at $132.7m.
However, investors are more interested in the lockup expiry date. Early investors will be free to release around 800 million shares to the public if they choose to sell. These are shares that have been held since IPO and include 100 million owned by Ford (NYSE: F) and 160 million owned by Amazon (NASDAQ: AMZN).
The prospect of heavy share dilution is not good news for the stock. Unfortunately, Ford has already confirmed it will sell 8 million of its RIVN shares.
The company also faces monetary headwinds from inflation and continued supply chain disruption.
RIVN shares fell by -6.25% during Friday’s session to settle at $28.79 and are down a further 18.5% in pre-market trading.
Since IPO, Rivian Automotive Inc (RIVN)’s stock is down by -77.85%.
Aurora Cannabis Inc (NASDAQ: ACB)
Aurora Cannabis Inc (NASDAQ: ACB) will report its earnings on 12 May. FactSet analyst consensus for its fiscal quarter Q3, ending 31 March, has EPS at -$0.17 and sales at $41.9m.
Over the past year, ACB stock is down by -66.55% while the S&P 500 is down -1.55% over the same period. Meanwhile, Aurora Cannabis Inc (ACB) has traded between $2.75 and $10.64 during the past 12 months.
The company recently completed the acquisition of Thrive Cannabis and its Greybeard brand.
The cannabis sector has fallen out of favor this past year, but some are now calling to buy the dip. That may be risky at this point as the broader stock market faces pressure from several angles.
Whether Aurora can prove its worth will have shareholders paying close attention to revenue growth and inflationary headwinds.