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Jackson Hole Conference, Salesforce Earnings Due: Investing Action Plan

Here’s your Investing Action Plan: what you need to know as an investor for the coming week. Monetary policy will lead the week as central bankers gather at the Federal Reserve’s annual symposium in Jackson Hole, Wyo., where Fed Chairman Jerome Powell will speak. Earnings news will continue to slow down but top names like Salesforce and Williams-Sonoma are reporting.




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Stocks To Watch

Power Integrations (POWI) cleared a 100.08 handle entry after gapping up a few weeks ago. Nvidia (NVDA) topped a 197.70 early entry as it broke a recent downtrend and is nearing a 207.43 official buy point from a cup-with-handle base. Advanced Micro Devices (AMD) has pulled back to its 21-day line, but a big bounce from around 106.18 would mark an aggressive entry or add-on point. Marvell Technology (MRVL) is in buy range after a strong rebound off the 50-day line. ASML (ASML) is forming a three-weeks-tight pattern with an 805.74 entry.

Powell To Speak At Jackson Hole

The event begins Thursday and runs through the following Saturday. Fed chief Powell will speak on Friday, Aug. 27, at 10 a.m. The central bank hasn’t released many details about his speech, but it comes after minutes from the last Fed meeting revealed hints that stimulus measures will be throttled back later this year. However, signs that the coronavirus delta variant is slowing down economic activity as well as persistent pockets of high inflation could complicate Fed officials’ timelines.

Meanwhile, several key economic indicators are due. Data on sales of existing homes and new homes will come out Monday and Tuesday, respectively. The durable goods orders report is due Wednesday. Weekly jobless claims come out Thursday. And on Friday, personal income and spending data, which include the Fed’s preferred inflation gauge, will be released.

Salesforce Reports After Slack Buy Closes

The developer of cloud-based enterprise software reports late Wednesday. Analysts expect EPS to fall 36% to 92 cents amid the acquisition of Slack Technologies. The deal closed in late July. Salesforce (CRM) revenue is expected to climb 21% to $6.24 billion, including a minor contribution from Slack. Workday (WDAY) reports late Thursday. Analysts expect EPS to fall 7% to 78 cents, with revenue up 17% to $1.24 billion.

Peloton Due Amid Recall

Interactive exercise-equipment maker will report fiscal Q4 earnings late Thursday, as repairs begin on 125,000 recalled treadmills. Analysts expect Peloton (PTON) to report a loss of 44 cents a share vs. a 27-cent per-share profit a year ago, when demand took off as folks set up home gyms during pandemic lockdowns. Revenue is seen rising 52% to $924 million, but slowing from last quarter’s 141% growth to $1.26 billion.

Williams-Sonoma Earnings To Jump

The cookware and home-goods retailer reports late Wednesday. Wall Street expects EPS to surge 44% to $2.59 as sales increase 21% to $1.801 billion. Williams-Sonoma (WSM) earnings will arrive as people begin to spend less time at home, in the wake of last year’s homebuying and home-renovation boom due to the coronavirus pandemic.

Busy Week For Deep Discounters

Dollar General (DG) and Dollar Tree (DLTR) will report before the market opens Thursday. Analysts see Dollar General’s EPS falling 17% to $2.59 with sales down 1.2% to $8.58 billion. Dollar Tree’s EPS is expected to decline 7.2% to $1.02 but sales are seen rising 2.5% to $6.44 billion. Burlington Stores (BURL) and Ollie’s Bargain Outlet (OLLI) will also report Thursday. Big Lot’s (BIG) is on tap early Friday.

Other Earnings

  • Intuit (INTU) will post its fiscal Q4 results late Tuesday. Wall Street is modeling a 12% EPS drop to $1.59, while sales rise 27% to $2.31 billion.
  • Advance Auto Parts (AAP) reports early Tuesday, and EPS is seen growing 5% to $3.05 with revenue up 6% to $2.645 billion.
  • Autodesk (ADSK) plans to report fiscal late Wednesday. Analysts expect EPS to climb 14% to $1.12 as sales increase 16% to $1.055 billion.
  • Dick’s Sporting Goods (DKS) reports early Wednesday, and analysts expect EPS to fall 17.5% to $2.65 while revenue grows 3.5% to $2.81 billion.

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