Stocks on Wall Street posted small gains on Friday, with the benchmark index hitting another record amid strong corporate earnings.
As the second quarter earnings season begins to flatten, several high-profile retail companies will report this week, e.g. Walmart (NYSE:), Target (NYSE:), Macy's (NYSE:), Home Depot ( NYSE: ), NVIDIA (NASDAQ:) and Cisco Systems (NASDAQ:). Add to that the latest US data and the , and the week ahead is expected to be an eventful one.
Regardless of how the market reacts, below we highlight one stock that is likely to be in high demand in the coming days and another that could suffer new losses.
Remember, however, that our timetable is for the coming week only. activity in the coming week as the electric vehicle maker holds its highly anticipated artificial intelligence event dubbed 'AI Day' on Thursday, August 19. Tesla reported the second quarter in July.
The invite-only event is expected to provide updates on the EV pioneer's growing role as an AI robotics player with new revenue stream opportunities as Tesla seeks to enter new markets, including battery storage and truck logistics.
AI Day will feature a keynote speech from Tesla CEO Elon Musk, as well as hardware and software demos from Tesla engineers demonstrating the company's AI use cases outside of its EV fleet. Tesla is also likely to provide updates on its Dojo Supercomputer neural network training project.
TSLA shares ended Friday's session at $717.17, about 20% below their all-time high of $900.13 on Jan. 25, giving the Palo Alto, California-based company a market cap of $718.4 billion got.
By current valuations, Tesla is the world's largest automaker, surpassing names like Toyota (NYSE:), Daimler (OTC:), General Motors (NYSE:), Honda (NYSE:) and Ford (NYSE:) 🙂
The electric vehicle sector was one of the best-performing stock groups before an aggressive revaluation of valuations hit the sector earlier this year.
After gaining more than 740% in 2020, TSLA shares are up just 1.6% in 2021. of Krispy Kreme (NASDAQ:) – which began trading after it went public for the second time in its history last month – is expected to experience another volatile week as investors brace for disappointing financial results from one of America's… 39;s largest donut chains. ]
Krispy Kreme first went public during the 2000 dot-com bubble and then went private in 2016 after being bought by JAB Holdings for $1.35 billion. The donut and cake maker will report earnings on Tuesday, August 17 after the closing bell.
Consensus estimates call for second-quarter earnings per share of $0.13 with revenue expected to reach $332.6 million.
Perhaps of greater importance, investors will monitor the growth of Krispy Kreme's same-store sales, a key retail metric that evaluates sales in stores that have been open for at least a year.
Market players will also be happy to hear whether the company, which has raised $500 million with its IPO, plans to take further steps to reduce its high debt burden.
Additionally, Krispy Kreme's outlook for the remainder of the year will be sharp amid lingering uncertainty from the COVID health crisis and as Americans continue to shift from sugary foods to health-conscious alternatives.
The Charlotte, North Carolina-based company launched its second IPO on July 1, pricing its IPO at $17 per share. That was well below the original price range of $21 to $24 per share.
DNUT shares rose briefly on the first day of trading, peaking at $21.69, before falling sharply in the days and weeks after debut.
Stocks – down 28% since their IPO – fell to a new low of $14.70 on Friday before closing at $15.03. At current levels, the maker of donuts and other sweet treats has a market cap of $2.46 billion.
