After a strong post-election rally, the market could regain momentum in the next week after the US presidential election is finally called, even as investors follow the coronavirus evolution.
It was up more than 7.3% in the past week, while it was up 9%, the best weekly performance since April. These gains were led by technology, communications services, healthcare, and discretionary stocks after it became clear that Democrat Joe Biden could be the next president, but with a divided Congress.
With the final counts still in place and the possibility of Trump-triggered lawsuits still lurking, here are three stocks to keep on your radar for the next week:
1 McDonald & # 39; s
Fast food giant McDonald & # 39; s (NYSE 🙂 is scheduled to report third quarter revenues on Monday, November 9, before the market opens. Analysts expect earnings per share of $ 1.91 on average on revenues of $ 5.4 billion.
Shares of MCD have rebounded strongly since they took a plunge in March, amid signs that the company's vast network of drive-through locations is reviving sales during the pandemic.
The stock is up 60% since March 18, outperforming the Index. The latest version of the company should be able to reflect this strength and the underlying resilience of the McDonald & # 39; s brand.
Last month, the company reported that comparable store sales were positive for the third quarter, which ended September 30, and benefited from robust average order growth from larger groups of guests and strong performance at dinner. The stock closed Friday at $ 216.56, up 0.12%
2. Beyond Meat
Beyond Meat (NASDAQ :), the in El Segundo California-based maker of plant-based burgers also reports its Q3 earnings on Monday, following the close. The analyst consensus forecast predicts earnings per share of $ 0.05 on revenue of $ 132 million.
Beyond Meat's business has shifted drastically to retail and away from restaurants amid the economic blockade sparked by COVID-19. Before the pandemic, each of the company's segments represented roughly, but that has now shifted heavily to grocery channels.
Tomorrow's earnings report should provide some insight into whether demand for restaurants rebounded after the reopening of the economy during the summer months. Many analysts hope the company's strategy of lowering the prices of its fake meat offerings will make its products more mainstream, enabling strong long-term growth.
Still, even with this uncertain demand environment during the pandemic, Beyond Meat's stock has performed strongly in 2020. Stock closed at $ 156.86 Friday, after more than doubling in value this year.
3. Disney
The Walt Disney Company (NYSE 🙂 is reporting earnings for the fourth quarter of fiscal year 2020 after the closing clock on Thursday, November 12. Analysts expect $ 14.1 billion in revenue and $ 0.73 loss per share.
The House of Mouse is in the midst of a nasty decline. Its core business – Disney-themed theme parks and cruises and hotels – which thrives on shared group experiences, after the global spread of COVID-19 forced the closure of its parks, resorts, cinemas and cruises worldwide.
A bright spot in the upcoming earnings report, however, could be the number of subscribers to the newly launched Disney + streaming service, which is taking advantage of the stay-at-home environment.
The entertainment giant's stock has reduced its losses in recent months, after dropping by about 40% in March. The stock is gradually recovering from that dip, fueled by hopes of a speedy recovery for all Disney companies once the pandemic is under control. Shares closed at $ 127.46 on Friday.
