Catch the (Post-earnings Announcement) Drift

The final trading day of the month ends with Broadcom #AVGO, lululemon #LULU, MongoDB #MDB, SentinelOne #S, Dell #DELL and about a dozen others.

CrowdStrike #CRWD, Salesforce #CRM, Okta #OKTA, Chewy #CHWY, Dollar General #DG, Five Below #FIVE, Veeva Systems #VEEV, Pure Storage #PSTG, Polestar #PSNY, and #UBS top the list among those scheduled to report earnings in the next 24 hours.

While a number of sectors will be represented by earnings releases in the next 24 hours, this is a Tech day with Hewlett Packard Enterprise #HPE, HP #HPQ, Box #BOX, and Ambarella #AMBA at the top of the list.

The most anticipated earnings releases scheduled for the week are CrowdStrike #CRWD, Salesforce #CRM, NIO #NIO, Broadcom #AVGO, lululemon athletic #LULU, Okta #OKTA, Chewy #CHWY, MongoDB #MDB, Best Buy #BBY, and Dollar General #DG.

Earnings after the close today include Toll Brothers #TOL, Urban Outfitters #URBN, and La-Z-Boy #LZB; and before the open tomorrow, we'll get results from Advance Auto Parts #AAP, Peloton #PTON, and a number of Retailers - Kohl's #KSS, Foot Locker #FL, Williams-Sonoma #WSM, Bath & Body Works #BBWI, and Abercrombie & Fitch #ANF.

Earnings after the close today and before the open tomorrow include Zoom #ZM, Baidu #BIDU, Lowe's #LOW, Macy's #M, Medtronic #MDT, DICK'S Sporting Goods #DKS, Canadian Solar #CSIQ, Flexsteel #FLXS, BJ's Wholesale Club #BJ, Fabrinet #FN, Coty #COTY, Nordson #NDSN and more.

What a difference a quarter makes. Last quarter Children's Place (PLCE) was late to report and, for good reason. They reported rather ugly results, but volume spiked at a low and sentiment troughed. And now, sentiment has come roaring back giving us a sentiment thrust. It doesn't give us a good indication of what the company is going to report tomorrow morning, but it does suggest an upward bias to the stock going forward. The two previous times that PLCE had such a thrust was in December 2005 and February 2021. The stock was up an average of 15.4% three months later.

We now have confirmed, scheduled dates for 76% of $#SPY but, interestingly, Alphabet #GOOGL is not among them, which is the latest we've gone in more than five years without the company scheduling second quarter earnings. The same holds true for Amazon #AMZN. Statistically, this is a bearish sign and a red flag going into earnings.

Our employment data has been trending lower but has held of late, while consensus estimates for tomorrow's payrolls appear to be more pessimistic than our data implies.

GameStop (<a href="https://alpha.earningswhispers.com/stocks/GME">GME</a>) reported earnings of $0.16 per share on revenue of $2.23 billion for the fiscal fourth quarter ended January 2023. The consensus estimate was a loss of $0.16 per share on revenue of $2.18 billion. The Earnings Whisper number was a loss of $0.20 per share. The company beat expectations by 180.00% while revenue fell 1.22% compared to the same quarter a year ago.The stock is currently trading at $24.82, which is up 40.6% on the day, with volume of 52.9 million shares. This is more than 11 times the average volume of 4.7 million shares over the past quarter. The stock has averaged a move of 7.2% on earnings over the past six quarters and options were priced for a 13.4% move.

Chewy (<a href="https://alpha.earningswhispers.com/stocks/CHWY">CHWY</a>) is confirmed to report earnings on Wednesday, March 22, 2023 at approximately 4:05 PM ET. The consensus estimate is a loss of $0.12 per share on revenue of $2.64 billion, respresenting 10.5% year-over-year revenue growth, and the Earnings Whisper &reg; number is a loss of $0.08 per share. Investors are 3.8% bullish going into the company's earnings release. Option traders are pricing in a 10.6% move on earnings and the stock has averaged a 11.6% move in recent quarters.

Petco Health and Wellness Company (<a href="https://alpha.earningswhispers.com/stocks/WOOF">WOOF</a>) reported earnings of $0.23 per share on revenue of $1.58 billion for the fiscal fourth quarter ended January 2023. The consensus earnings estimate was $0.24 per share on revenue of $1.57 billion. The Earnings Whisper number was $0.22 per share. The company beat expectations by 4.55% while revenue grew 4.20% on a year-over-year basis.The company said it expects fiscal 2024 non-GAAP earnings of $0.54 to $0.62 per share on revenue of $6.150 billion to $6.275 billion. The current consensus earnings estimate is $0.70 per share on revenue of $6.35 billion for the year ending January 31, 2024.

Nike (<a href="https://alpha.earningswhispers.com/stocks/NKE">NKE</a>) reported earnings of $0.79 per share on revenue of $12.39 billion for the fiscal third quarter ended February 2023. The consensus earnings estimate was $0.52 per share on revenue of $11.45 billion. The Earnings Whisper number was $0.60 per share. The company beat expectations by 31.67% while revenue grew 13.97% on a year-over-year basis.The company said during its <a href="https://events.q4inc.com/attendee/864992868">conference call</a> it expects fourth quarter revenue of approximately $10.87 billion to $11.25 billion. The current consensus revenue estimate is $12.59 billion for the quarter ending May 31, 2023.

ProFrac Holding (<a href="https://alpha.earningswhispers.com/stocks/ACDC">ACDC</a>) reported earnings of $1.46 per share on revenue of $794.10 million for the fourth quarter ended December 2022. The consensus earnings estimate was $0.96 per share on revenue of $799.08 million. The Earnings Whisper number was $1.07 per share. The company beat expectations by 36.45%.The stock stock is currently trading at $12.15, which is down 17.2% on the day, with volume of 2.3 million shares.

Nike (<a href="https://alpha.earningswhispers.com/stocks/NKE">NKE</a>) is confirmed to report earnings on Tuesday, March 21, 2023 at approximately 4:15 PM ET. The consensus earnings estimate is $0.52 per share on revenue of $11.45 billion, respresenting 5.3% year-over-year revenue growth, and the Earnings Whisper &reg; number is $0.60 per share. Investors are 12.7% bearish going into the company's earnings release. Option traders are pricing in a 8.9% move on earnings and the stock has averaged a 7.8% move in recent quarters.