Monday’s Headlines: Get Ready For Earnings Season
Here were the biggest movers in the MyWallSt shortlist on Friday:
Moving Up ⬆️
Nordstrom (JWN) +6.6%
Eventbrite (EB) +5.5%
Under Armour (UAA) +4.4%
iRobot (IRBT) +3.9%
Moving Down ⬇️
Coupa Software (COUP) -1.5%
StoneCo (STNE) -0.8%
Etsy (ETSY) -0.5%
1. You all know it’s that time of the quarter again: earnings season is about to start, and with it comes all the usual ups and downs on the market. Following the S&P 500’s (VOO) record close on Friday, investors are bracing for the big banks to get earnings proceedings underway, while analysts expect profits for S&P 500 companies to rise 65% on average for the second quarter. Investors should keep an eye out for banks, consumer discretionary, and industrials over the coming weeks, all of which are expected to have enjoyed a stellar quarter. The first MyWallSt company to report earnings will be Ericsson (ERIC) on Friday. For more in-depth information, read here.
2. Nordstrom (JWN) isn’t letting the retail apocalypse get it down after acquiring a minority stake in four prominent UK fashion brands. Topshop, Topman, Miss Selfridge, and the activewear brand HIIT are all owned by the online fast-fashion leader, ASOS, and primarily target a younger audience. Although ASOS will retain operational and creative control of the Topshop brands, Nordstrom will have exclusive retail rights for Topshop and Topman across North America, which could bring them a stronger online presence in the fashion industry. No financial details of the deal have been disclosed as of yet. Read the full story here.
3. The pandemic-era box office has a new leader after Disney’s (DIS) latest superhero flick, ‘Black Widow’, smashed 2021 records. The Marvel blockbuster reported an $80 million domestic haul alongside a $78 million international take, but the real win for investors comes from the $60 million income from Disney+ Premier Access. The House of Mouse released its first-ever streaming figures for its Premier Access feature, which allows subscribers to rent theatrical releases at home. The $60 million haul has no comparative precedent, but it’s a bull case for investors who wish to see the monetary value of having such a feature available when cinemas fully reopen. You can read the official report here.