This Week's Earnings Repertoire

Last week, the S&P 500 index fell 1.6% in the week's run while NASDAQ and Dow Jones Industrial Average were dragged by the continued weakness in Big Tech. With indications slow economic recovery filled with uncertainties, the Federal Reserve also announced it will not raise interest rates for another three to four years. But despite a light earnings calendar, Adobe Inc ADBE and FedEx Corporation FDX made our whole week with their blockbuster results that blew estimates. This week, there will be more events on our earnings calendar to keep an eye on.

September 22

Sportswear giant Nike Inc NKE has some big questions to answer as it is expected to show progress toward returning to growth. But it will be operating in a much more price-sensitive environment this holiday season. Fortunately, the sportswear giant's supply chain is among the most efficient ones in the industry and it does focus on consumers who are willing to pay a premium.

Canadian pot producer Aurora Cannabis Inc ACB was a favorite among pot investors because of its bold expansion strategy. But that was before it lost steam in 2019 as its shares fell 56% last year, whereas the overall industry declined 36% due to headwinds. Management's rash decisions such as acquisitions contributed to the effect of external headwinds, but marijuana sales have been increasing during this unprecedented year. The company has been seeing revenue growth during 2020, but not enough to turn a profit. Therefore, cost reduction efforts and growth strategy will be at the center of the conversation.

Stitch Fix Inc SFIX seemed to have lost the pandemic-induced retail boom as its last earnings report included slumping profitability and weak user growth. Investors are waiting to see if the company manages to return to an offensive growth position.

AutoZone, Inc. AZO has had stellar performance over the past few years as the company has continued to grow without harming its financial position. But the home office trend that reduces commuting is an existential threat to automotive parts.

Tesla Inc TSLA will have its shareholder meeting and beyond hyped Battery Day. To put it simply, what Tesla comes out with can greatly ease the threat of its uprising competitors.

September 23

JinkoSolar Holding Co., Ltd JKS is a key player in the booming Chinese solar market which gives the company tremendous long-term upside.

The once-dominant smartphone maker BlackBerry Ltd BB is back with a new phone scheduled for 2021. Its earnings report is expected to show solid grounds on which it can deliver this comeback, but for some BB never left. It has to deliver as its competitors continue to shine with impressive results.

September 24

Drugstore chain Rite Aid Corporation RAD will release its second-quarter results for the quarter that ended on August 29. With its last report, the drugstore retailer delivered an earnings beat of 92.6%. Growth was achieved by keeping stores open and enhancing the digital infrastructure so its stock could be poised for an earnings beat.

Wall Street expected Costco Wholesale Corporation COST to deliver strong results as the warehouse retailer benefited from sharp sales growth that has been boosted by online sales.

Takeaway

That's all folks. If anything, there will be more things happening, but we simply have to get adjusted to the fact that uncertainty is our new normal for the time being. Meanwhile, all eyes will be on Tesla and whether it will succeed in delivering yet another revolutionary discovery on its beyond anticipated Battery Day.

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