After some of the largest US companies reported strong earnings results in recent weeks, investors are now turning their attention to macroeconomic fundamentals.
Stocks rose Friday after better-than-expected gains in the US, as July job growth accelerated the most in nearly a year. In addition, it declined, showing strong momentum in the labor market as the economy picks up again. It climbed to another record, led by and.
If this pace of employment continues, it could bode well for corporate earnings in the second half of the year, helping stocks hit record highs.
Amid this positive environment for equities, below is our list of three key earnings announcements, scheduled for the coming week, that may provide some insight into how companies foresee in the coming months, especially when the Delta variant reopens in some regions threatened :
1. Coinbase Global
Coinbase (NASDAQ:), the largest cryptocurrency exchange in the US, will report its second quarter results on Tuesday, August 10 after the market closes. Analysts on average expect the company to report $2.71 share gain on $1.73 billion in revenue. . Coinbase's is built almost entirely on the performance of and, which have fallen from their peak this year. Nevertheless, both digital tokens have bounced back from their lows in 2021 and have surged higher in recent weeks.
Coinbase shares closed Friday at $258.26, well below the year-to-date high of $429.54. At the time of publication, Bitcoin is trading above $45K after hitting more than $63,000 in April. Ethereum is trading above USD 3,100.
Continued market volatility, China's crackdown on fintech and other technology companies, and the possibility of regulatory action targeting digital currencies in the West, some analysts say could hurt the company's revenues in the future.
3. The Walt Disney Company
Disney (NYSE:) reports profit for the third quarter of 2021 after the closing bell on Thursday, August 12. Analysts expect revenue of $16.76 billion and earnings of $0.54 per share.
If analysts' forecasts are correct, soaring sales in the third quarter will be one for House of Mouse, which suffered huge losses during the pandemic as its main travel businesses – theme parks, cruises and hotels – suffered with closures and capacity limitations
As the economic reopening may hit some speed bumps due to increasing cases of Delta variants around the world, and Disney's parks slowly returning to capacity, investors will also focus on subscriber growth in the streaming service of the entertainment giant, Disney+, which took advantage of the stay-at-home environment.
Shares of the Burbank, California-based company haven't changed much this year, however, amid concerns that the boom in its streaming subscriptions is already over. The stock closed Friday at $177.13, close to the same level it was at the start of the year.
3. Airbnb
The home rental platform Airbnb (NASDAQ:) will report its second-quarter earnings on Thursday, even after the market closes. Analysts forecast a loss of $0.36 per share for the period on revenue of $1.26 billion.
Following its economic reopening this spring, the results of the San Francisco-based company may show that demand for guest accommodation, ABNB's core service, is gradually returning as more people try to travel. Airbnb was one of those during the pandemic, nearly suspending its IPO plans in December as demand for its rental properties plummeted. In April last year, the number of bookings and experiences had fallen by 72%. But the accelerated rollout of vaccines in the developed world should boost bookings in the summer, leading some analysts to predict that the worst may already be over. left for the travel giant.
Despite this optimism, Airbnb stock has seen little gain this year, closing at $149.99 on Friday, reflecting the risks of an evolving pandemic as the more dangerous Delta variant expands. spreads quickly.
