As June ends later this week, the first half of 2021 is coming to an end. Stocks continue to show momentum in hopes that the economic reopening will benefit certain sectors of the economy. The spin to value stocks was a major theme in the first half, amid expectations for higher inflation and faster economic growth as pandemic restrictions eased.
The best performing sector of the , , benefited from rising prices this year with a gain of 46%. are the second best performing sector, up 25%. As investors look for bargains in the second half of the year, here are three mega-cap stocks that we'll be watching closely over the next week as they're scheduled to announce their final earnings:
1. Micron Technology
Semiconductor maker Micron Technology (NASDAQ:) will report earnings after market close on Wednesday, June 30. The storage chip maker has made an estimated $1.71 earnings per share on $7.2 billion in revenue for the third quarter of 2021. The Boise, Idaho-based company, the largest U.S. computer memory chip maker , raised its forecast for the last quarter as sales were boosted by increased demand for memory chips used in phones and computers. Chief Executive Officer, Sanjay Mehrotra, told Bloomberg in March that demand for memory chips will remain strong. and deliver tight in next year. Cars, servers and other devices have more memory than they used to, while businesses and consumers are spending on everything from smartphones to networks, he said.
Micron shares closed at $82.03 on Friday, following a 9% gain this year.
2. Constellation Brands
US-based Corona beer producer, Constellation Brands (NYSE:), will report its first quarter 2022 results before the market opens on Wednesday. Analysts predict earnings per share of $2.35 on $2 billion in revenue.
Sales as the Victor, New York-based wine, beer and spirits producer manages to master the difficult business environment during the pandemic by offsetting the decline in sales on location, in restaurants and bars with off-premises sales. location in his beer business.
Executives told investors in April they expect 2-4% growth in fiscal 2022, aided by aggressive marketing push and the company's ability to raise prices faster than inflation. STZ shares closed at $228.60 Friday, after gaining about 4% this year.
3. Walgreens Boots Alliance
Walgreens Boots Alliance (NASDAQ:), the second-largest U.S. pharmacy operator, will report its third-quarter 2021 earnings on Thursday, July 1, before market opens. . Analysts expect earnings per share of $1.15 per share for the quarter on revenue of $33.49 billion.
The Deerfield, Illinois-based company is benefiting from the COVID-19 pandemic as the chain administers millions of vaccine shots to Americans who tend to spend on other items as well when visiting pharmacies.
Walgreens, in raising its annual forecast in March, said the money made from administering COVID-19 vaccines should lead to pandemic losses. Before the pandemic, Walgreens struggled to boost sales and had cut costs. as its market share came under pressure from increasing competition from Amazon (NASDAQ:) and other competitors in the segment.
Part of these efforts included bolstering its digital strategy and free website delivery, while also expanding a partnership with delivery service Postmates (NYSE:). Walgreens stock has gained 30% this year. The stock closed Friday at $52.16.
