Each week I sit down on Sunday evening and take a look at the week ahead in the markets, and this week as I did I was startled to see how many important companies are set to report earnings this week. The overall number of earnings reports is down sharply this week, but many of those companies reporting this week are large and well-known. Given the small amount of economic data being released this week most of this preview will be dedicated to earnings.
Since this is Thanksgiving week the amount of economic data being released this week is a little less than normal, but there are some important market moving releases to watch. Housing starts and building permits numbers for October will be released on Tuesday morning. Investors continue to look for any hint of a positive sign for the housing markets. Also on Tuesday in the afternoon the FOMC minutes from October 31st will be released. The FOMC minutes are liable to move the markets more than any other economic news this week because all market participants want that inside look at exactly what the Fed is thinking on interest rates going forward.
Earnings preview
Monday Nov. 19th
- Hewlett-Packard (NYSE:HPQ) HPQ is expected to report 82 cents per share on Monday. The company has successfully turned itself around and is a tech bellweather once again.
- Lowe's Companies (NYSE:LOW) Expectations for LOW are clearly extremely low given the horrible housing market conditions. The forward looking statements of the company are certainly going to be the most important part of this earnings release.
- Nordstrom (NYSE:JWN) Nordstrom is an interesting case because they have historically done very well no matter what the retail environment, but recent warnings have crushed the stock price of the company. It will be interesting to see if anything the company says Monday will quell those fears.
Tuesday Nov. 20th
- Gamestop (NYSE:GME) Gamestop is expected to deliver a great quarter given the successes of Halo 3 and the gaming systems in the past quarter. It will be interesting to see if investors bid the stock up if the company reports a good number or if they sell the news after buying the rumor.
- Target Corporation (NYSE:TGT) Target will report Tuesday morning and is expected to bring in 62 cents per share. Recent data has shown this company faring better than most in a tough retail environment.
- Whole Foods Market (Nasdaq:WFMI) Whole Foods is a company that has gone through a transition period with investors selling the stock down over the past couple years because of lower growth rates. The stock has started to come back, now its up to the company to prove its staying power.
Wednesday Nov. 21st
- Deere and Company (NYSE:DE) DE has been one of the biggest beneficiaries of the massive boom in the agricultural market over the past year. Investors will be expecting big things from Deere and Company on Wednesday.
- The Gap (NYSE:GPS) One of the more interesting names in retail right now because of its turnaround story. Some question the validity of the turnaround, while others believe it is for real. The stock has performed better of late than most of its peers.
Thursday November 22nd- Happy Thanksgiving!
Friday November 23rd
No major reports due out
This will be an interesting week for the markets as we see whether the bulls can gain any traction after last week's selloff or if the market continues to fall through the holiday shortened week.
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