With chances for an interest rate hike by Federal Reserve down to 4%, according to the CME Group, attention turns to other reports.
Productivity and costs for the first quarter will be released Tuesday. The Job Openings and Labor Turnover Survey for April comes out Wednesday. Weekly jobless claims will be released Thursday and preliminary consumer sentiment will come out Friday.
Meanwhile, this week will see earnings reports from four major players discussed here. Information on all of this week’s earnings reports can be found on Woo Trader’s free daily Earnings Calendar report.
Related: Try Our Free Earnings Calendar
Wholesale industrial equipment supplier, HD Supply Holdings reports report earnings Tuesday before the opening bell.
Wall Street expects HDS to report earnings of $0.46 per share, up from $0.25 a year ago. Analysts also anticipate the company will show revenue is down at $1.84 billion, a 17.3 decrease year over year.
HDS stock is up 15.55% in 2016 so far. The S&P 500 index is up just 2.7% over the same period. The company has a consensus “buy” rating and an average analyst 12-month PT of $37.50.
Pharmaceutical company, Valeant also reports Tuesday before the market opens.
Jim Cramer’s TheStreet recommends investors sell Valeant and take profit now ahead of Tuesday’s earnings report. This advice follows Valeant’s admission it could default on its debt. According to TheStreet those fears went away with the hiring of new CEO, Joseph Papa.
Wall Street anticipates earnings of $1.37 per share on revenue of $2.36 billion, a year-over-year decline of 42% on earnings and an 8.6% rise in revenue. Overall, Valeant shares have declined 71% this year.
Vancouver, Canada-based athletic clothing designer and retailer, Lululemon is set to report earnings before the market opens Wednesday.
Lululemon is expected to report earnings of $0.32 per share, according to 89 Estimize respondents. This would represent a $0.02 decline from the same period last year. Wall Street consensus estimate is only $0.31 per share.
Wall Street is looking for revenue of $487.69 million, about 15% higher than the same period a year ago. Lululemon stock is up 28% year-to-date.
H&R Block, whose primary stock in trade is tax return prep and filing of income tax returns, reports Thursday after the market closes.
The Wall Street forecast for H&R Block includes earnings of $3.17 per share compared with earnings of $2.73 during the same period last year. Overall the stock is down 35.5% this year. H&R Block’s Q4 earnings report is considered the most important one of the year since it includes tax season and represents the only quarter HRB typically shows a profit.
Although the stock has a low P/E of 13.8, sentiment is not strong and analysts advise caution before taking a strong bull position.