In the past week, investors have pushed the record to a new all-time high, indicating that the second quarter could bring more profit, especially when the US economy opens up and jobs return.
The broad The stock market index capped its fourth straight quarterly progress last week, aided by the ongoing recovery in technology stocks. Investors will find another strong reason to remain bullish for the next week after March's robust Friday.
U.S. employers added 916,000 jobs in the past month, more than the 660,000 profit economists predicted. The March payroll report confirms expectations that the US recovery will gain momentum as the pace of vaccine introduction escalates.
In the midst of these positive macro signs, here are three stocks that we are following closely – two that will announce their final earnings in the next few days:
1. Tesla
Shares of electric carmaker Tesla (NASDAQ 🙂 may see some positive action in the next week, after the Palo Alto, California carmaker said Friday it had delivered more vehicles than expected in the first fifteen minutes.
The electric car manufacturer delivered 184,800 cars worldwide in the first three months of the year, instead of 180,570 in the fourth quarter, the company said in a statement Friday.
"We are encouraged by the strong reception of Model Y in China and are rapidly progressing to full production capacity."
The new Model S and Model X have also been "exceptionally well received," the company said, adding that it is still in the early stages of production of both vehicles.
The quarterly delivery figure comes amid concerns that the global shortage of chips could hurt Tesla's production, especially when other manufacturers face similar problems. But Friday's data shows that the world's largest electric car manufacturer remains on track to meet delivery targets.
The stock is down 6% this year after a vigorous rally in 2020. Shares closed at $ 661.75 on Thursday after falling about 1%.
2. Constellation Brands
US-based Corona beer producer Constellation Brands (NYSE 🙂 will report its fourth quarter 2021 earnings before the market opens on Thursday, April 8. Analysts forecast earnings per share of $ 1.55 on a sale of $ 1.86 billion.
In the foregoing, Constellation reported a sales increase of nearly 22% and a 44% increase in earnings per share compared to the same period a year ago.
Sales grows as the Victor, New York-based wine, beer and spirits manufacturer manages to master the difficult business environment it experienced during the pandemic due to the drop in on-site, restaurant sales and bars with off-premises sales or retail sales in its beer business. As CEO Bill Newlands told CNBC in January:
“We have the brands that are in high demand and one of the things that people do when they buy for home is they stick to things they know and they stick to things they trust, and we have found that people trust. "
It has remained that way ever since. STZ shares are trading near a record high after rising about 75% in the past year. They closed at $ 229.62 Thursday
3. Levi Strauss
Garment Maker Levi Strauss & Co. (NYSE :), will also report first quarter 2021 earnings on Thursday, but after the market closes. Analysts expect an average of $ 0.24 per share on sales of $ 1.25 billion.
The San Francisco-based apparel manufacturer – best known for its iconic Levi & # 39; s brand jeans – can continue to report in sales amid the COVID-19 pandemic, which forced the company to open stores in close certain markets.
However, the pandemic has accelerated the company's push to sell more through its own channels, with an emphasis on digital sales, while Levi's growing network of physical stores – currently about 200 in the US – used to boost pressure. .
Stocks of Levi have rebounded strongly over the past year and are up more than 135% from their dip in March a year ago. The stock closed at $ 23.69 on Thursday after falling about 1%.
