Monday (June 24)
- None
Tuesday (June 25)
- Morning: BNED FDS LEN
- Afternoon: AVAV FDX MU SNX
Wednesday (June 26)
Thursday (June 27)
- Morning: ACN APOG CAG GMS MKC PDCO SJR WBA
- Afternoon: CAMP NKE PRGS SGH
Friday (June 28)
- Morning: STZ JKS
Notable earnings reports: Micron (NASDAQ:MU), FedEx (NYSE:FDX), Lennar (NYSE:LEN) and FactSet Research (NYSE:FDS) on June 25; Rite Aid (NYSE:RAD), Blackberry (NYSE:BB), National Beverage (NASDAQ:FIZZ) and General Mills (NYSE:GIS) on June 26; Nike (NYSE:NKE), Walgreen Boots Alliance (NASDAQ:WBA) and ConAgra Brands (NYSE:CAG) on June 27; Constellation Brands (NYSE:STZ) on June 28.
Spotlight on FedEx: Analysts expect FedEx (FDX) to report revenue of $17.88B and EPS of $4.39 with its FQ4 report. JPMorgan turned some heads by predicting that FedEx would clear the decks with below-consensus guidance across the board. FedEx conference call topics will run the course from fuel costs, tariff headwinds, wage inflation pressure to Amazon. Naturally, shares of UPS (NYSE:UPS) could see a jolt if FedEx surprises to the upside or downside with guidance. So far this year, shares of FedEx are up 4.1% to trail the 5.7% gain for UPS.
Playing Nike earnings: Nike (NKE) is expected to report revenue of $10.2B and EPS of $0.66 when it reports on July 27. Oppenheimer thinks Nike's stepped up investment spending could drag down FQ4 profit and the company's full-year guidance to act as a near-term negative catalyst for shares. "We recommend clients use any share price weakness in NKE as a buying opportunity. In our view, higher costs at the company are strategic in nature and will help to further enhance the prowess of the brand, over time," advises the firm. Foot Locker (NYSE:FL), Under Armour (NYSE:UAA) and Adidas (OTCQX:ADDYY) have all been known to swing up or down with Nike on earnings day.
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