Stock investors are looking for the next direction stocks will take after taking losses for the past two weeks. It is a vivid reminder that investing is not always about winning.
The country had its worst week since the end of June and its second consecutive weekly loss for the first time since May. The tech-heavy fell more than 4% this week, its strongest drop since March.
With the US elections just weeks away and the economic recovery still weak, a consensus is developing within the analyst community that it will be difficult for markets to assess the robust performance of the past six months in the coming months. to repeat. With that in the background, here are three stocks on our radar for the upcoming trading week:
& # 39; the world's largest parcel delivery service, FedEx ( NYSE :), will report its fiscal 2021, first quarter results after the market closes on Tuesday, Sept. 15. Analysts expect an average of $ 2.67 per year. share profits on sales of $ 17.5 billion.
FedEx figures, which come nearly a month ahead of the third quarter 2020 figures for most US companies, are generally closely watched as delivery operations are seen as a proxy for the global economy . As such, it can provide early warnings on trade and business investment issues.
Since the dip in March, investors have become optimistic about FDX, encouraged by the growing demand for the company's delivery services during the pandemic, as shoppers turn to e-commerce in an all-home environment.
Sentiment on FedEX has been so optimistic that its stock has more than doubled in the past six months, even outperforming some of the leading tech stocks. Shares of FDX closed at $ 232.79 on Friday, after climbing more than 3% for the day.
Another equity that could surprise investors this week is Adobe Systems (NASDAQ :). The maker of Photoshop will also publish its revenue from fiscal year 2020, third quarter, also after the close on Tuesday.
On average, analysts expect earnings per share of $ 2.41 on revenue of $ 3.16 billion. In June, Adobe released an impressive earnings report for it, aided by the continued shift to cloud computing amid the COVID-19 pandemic.
That trend is likely to be beneficial for the company and its stock as Chief Executive Officer Shantanu Narayen accelerates efforts to diversify the company's activities, which are currently focused on creative software. To that end, in 2018, Adobe bought, for example, Magento, a developer of e-commerce platforms, and the maker of marketing automation software Marketo.
Adobe, which competes with Salesforce.com (NYSE 🙂 in the marketing and e-commerce technology segment, is seeking to drive growth by expanding its offering while strengthening its core creative software business. Shares have seen a strong rise this year, up around 43%. The stock closed at $ 471.35 on Friday.
Clinical Stage Biotechnology Moderna (NASDAQ 🙂 will hold its annual Research & Development Day virtually on Thursday, September 17. The Cambridge, Massachusetts-based company can provide some updated information on how its potential Trials with the COVID-19 vaccine are underway.
Moderna is conducting a final phase of research for its vaccine that previously elicited antibody levels higher than those typically seen in people recovering from the virus.
According to a recent note from Jefferies, the biotech vaccine for COVID-19 could generate sales in excess of $ 5 billion per year if approved by regulators. Moderna stock is up more than 200% this year, although it is down from its quadruple gain in mid-July.
Shares closed at $ 59.34 on Friday after a 3% rise on the day.