A Light Earnings Week In Sight

As infections continue rising and lockdown measures are being re-instated in Europe, hopes for recovery and growth are diminishing. In a quiet earnings week, Adobe Inc ADBE and Game Stop Corp. GME are about to make some noise on Tuesday.

Adobe

After the market closes on Tuesday, Fact Set expects Adobe to report a net income of $1.3 billion, or $2.79 a share, on revenues of $3.8 billion. The creative software company witnessed strong demand for its Digital Media Solutions in the fiscal fourth quarter and the trend is expected to have continued in the to-be-reported quarter due to impressive growth in Creative Cloud and Document Cloud segments. New capabilities in Adobe Target are expected to have further enhanced customer recommendation and targeting, as well as boosted revenues.

GameStop

At the same time on Tuesday, Fact Set expects the poster child for the latest surge in investor interest to report a net income of $88.3 million, or $1.35 a share, on revenues of $2.2 billion. With a market capitalization of approximately $14 billion as of Friday, it has quickly vaulted to become one of the biggest companies in the small-cap Russell 2000 index. In February, it brought on its first-ever technology officer and no other than Amazon's AMZN former AWS engineering leader.

General Mills

On Wednesday, March 24^th, the breakfast and snack good specialist is expected to report net income of $522.9 million, or 84 cents a share, on sales of $4.4 billion before the market opens. Despite the demand surging during the pandemic, the impact is waning. But, the expanded customer base and rising profitability could help General Mills GIS to continue sailing. Management has suggested that the company's in for a soft landing as they expect demand to remain fundamentally higher for food prepared at home even after the virus threat fades and people are able to return to being mobile.

Darden Restaurants

Although Darden Restaurants DRI is expected to report adjusted net income of $88.5 million, or 71 cents a share, on sales of $1.6 billion before the market opens on Thursday, the company has a strong streak of surpassing earnings estimates.

On Friday, the U.S. Bureau of Economic Analysis will close the week by releasing its report on February personal consumption expenditures or the change in the value of goods and services purchased by the U.S. consumer.

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