Anticipated Earnings Reports for the Week of May 27-31
The final week of May is set to witness a flurry of earnings reports across various sectors, despite the shortened trading week due to the Memorial Day holiday. Notable companies scheduled to announce their quarterly results include tech giants like Salesforce (NYSE: CRM) and Dell Technologies (DELL), retail giants such as Costco Wholesale (NASDAQ: COST) and Dollar General (DG), as well as cannabis industry player Canopy Growth (NASDAQ: CGC). Tuesday, May 28 Hello Group (MOMO): Hello Group is set to release its Q1 earnings before the market opens. Analysts are expecting a decline in revenue year-over-year (Y/Y), with Morgan Stanley downgrading the stock to Underweight due to concerns about its limited turnaround prospects. Wednesday, May 29 Salesforce (CRM): Salesforce headlines the week with its Q1 earnings update postmarket hours. Despite a significant rise in its stock price over the past 12 months, Salesforce remains optimistic, having recently announced its first-ever quarterly dividend and an expanded share buyback program. Thursday, May 30 Costco Wholesale Corporation (COST): Costco is slated to report its quarterly results after the market closes. Analysts anticipate both revenue and earnings to increase Y/Y for the retail giant, although opinions on the stock range from optimistic Buy ratings to more conservative Holds and Sells. Friday, May 31 Genesco (GCO): Genesco is scheduled to announce its Q1 results before the market opens. Following disappointing Q4 results, the company faces challenges in improving its core product assortment amidst a difficult operating environment. While these are some of the major earnings reports expected during the week, investors will also be keeping an eye on a host of other companies across various sectors as they provide insights into the state of the economy and specific industries.