3 stocks to watch in the coming week: Walmart, Tesla, Deere & Company

It seems that nothing can stop the upward momentum of the US stock market. For example, the has risen eight of the last 10 days and 15 of the last 19 weeks.

Despite the coronavirus threatening to curb global growth, the S&P 500 index has not only advanced four out of five days in the past week, but has set three records along the way. What fuels optimism are strong signs that the US economy remains solid and that companies are still producing better earnings results.

Economic data showed a fourth consecutive month on Friday in January because cheaper prices at the gas station encouraged Americans to spend on other goods, underlining the steady consumer spending.

Coronavirus updates are likely to attract the most attention next week, even if some reputable companies release their income. Yet here are three stocks that are worth having on your radar:

1. Walmart

Amid robust consumer confidence, America's largest retailer, Walmart (NYSE :), will report its latest quarterly results on Tuesday, February 18 before the market opens. Consensus expects earnings per share of $ 1.44 on sales of $ 142.57 billion.

After registering 21 consecutive quarters of comparable US sales growth, there is a small chance that the supercenter will deliver a negative surprise.

WMT Weekly TTM

With the expectation that the Bentonville AR-based retailer will report strong quarterly results and growing online sales, investors have increased the WMT share by 20% over the past year. The stock closed 0.8% on $ 117.89 on Friday.

Walmart continued to show investors that it is well positioned to take advantage of stronger consumer spending in the midst of the persistent, low country. The mega retailer reported in November that the comparable sales of its US operations increased by 3.2% compared to a year earlier, which also benefited its full-year profit forecast.

Walmart's comparable sales and online expansion will be the two critical figures that investors should focus on.

2. Tesla

The excitement surrounding Tesla (NASDAQ 🙂 shares is likely to continue this week, as the electric car manufacturer is trying to raise around $ 2 billion in a secondary offer, using a strong rally in its share price.

TSLA Weekly TTM

According to a Bloomberg report, the secondary offer cost $ 767 per share, which corresponds to a 4% discount on the Friday closing of $ 800.03. The stock has more than tripled since the company released the first of two consecutive in October. The shares fell by 0.49% on Friday.

Assuming insurers exercise their option to purchase additional securities, the offer could yield approximately $ 2.3 billion in revenue, Tesla said in a statement. That will help fund no less than $ 3.5 billion in capital expenditures this year.

The offer, favored by many analysts, is still a surprise to many after CEO Elon Musk said during a profit call at the end of January that Tesla could finance itself without the help of Wall Street.

3. Deere & Company

& # 39; The world's largest manufacturer of agricultural and construction equipment, Deere & Company (NYSE :), will announce its fourth quarter earnings on Friday, February 21, before the market opens. Wall Street expects sales of $ 6.24 billion and $ 1.29 in earnings per share.

THE Weekly TTM

Last year, Deere promised to try to overcome the negative impact of the trade war between Sino and the US. The company also cut its forecast for Q4 2019 and fiscal 2020, referring to the slowing global economy.

With production costs rising in some of its segments, the Moline, IL-based company has launched a series of actions to make the organization structurally more efficient and profitable. In November, Deer said it started a voluntary redundancy program for salaried employees, which is expected to cost around $ 140 million. The company also plans to review overseas factories to eliminate excess production capacity.

The share has fallen 3% this year amid declining demand. It closed on Friday at $ 168.07.

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