Week Ahead: Big Name Earnings To Dominate The Headlines

The upcoming week is going to be a busy one, as markets await first quarter earnings from a number of major US banks, as well as the Bureau of Labour Statistics March CPI print. 

On Monday, Aphria Inc, a Canadian-based cannabis company, is expected to release its first quarter earnings before market open, as analysts call for revenues to increase from $160.53 million in the final quarter of 2020, to that of $168.47 million. 

Tuesday is a big day for the US economy, as the Bureau of Labour Statistics is expected to publish the highly-awaited March CPI print. According to economists polled by Reuters, the median forecast for core CPI calls for a month-over-month increase of 0.2%, and an increase of 1.5% from year-ago levels.

Also on Tuesday, Organigram Holdings Inc, a Canadian cannabis producer, will be publishing its earnings for the first quarter of the year before markets open. The consensus forecast among analysts calls for revenues of $20.21 million, marking an increase of $1.13 million from the prior quarter.

Cogeco Inc, a Canadian telecommunications and media company, will be reporting its financials for the first quarter of 2021, with revenues expected to increase by $2.54 million to $648.9 million, and earnings-per-share expected to be $1.97. 

Wednesday through Friday this week is a busy time for US banks, as JP Morgan, Goldman Sachs, and Morgan Stanley, among others, are all expected to release earnings for their latest quarter. Both Morgan Stanley and Goldman Sachs were also embroiled in the Archegos Capital Management fallout, and are expected to sustain some level of losses. 

Bed Bath & Beyond Inc, which was recently targeted by retail investors looking to squeeze out hedge funds, will be releasing its fiscal fourth quarter earnings on Wednesday as well. Analysts are calling for earnings per share to reach $0.33, and revenues of $2.65 billion— a slight improvement from the previous quarter’s revenue of $2.62 billion. 

Wednesday meanwhile is a big day for Coinbase, which is expected to make its public debut on the Nasdaq. The cryptocurrency exchange has been the subject of a recent market frenzy, as it is the newest tech company to go public with a massive valuation. In a press release published last week, Coinbase revealed its first quarter revenue skyrocketed by nearly nine-fold from year ago levels, to $1.8 billion.

On Thursday, UnitedHealth Group Inc, a Minnesota-based for-profit healthcare company, is anticipated to publish its fiscal first quarter earnings before markets open on Thursday. Analysts are forecasting revenues to reach $69.26 billion— an increase of $4.2 billion. Earnings-per-share are expected to increase from the previous quarter’s $2.52 to $4.36.

Delta Airlines, one of the major US airline carriers which has been embattled by the Covid-19 pandemic, will also be publishing its earnings for the fiscal quarter ending on March 2021. Analysts are expecting a revenue increase of $100 million to a total of 4.07 billion. Earnings-per-share are forecast to decrease from -$1.19 to -$2.83 

Finally, on Friday Statistics Canada will be publishing wholesale sales levels for the month of February. The statistics agency is forecasting the total value of sales to rise by 5%, marking a decrease of one percentage point from the previous month’s increase. 

Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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