Catch the (Post-earnings Announcement) Drift

Canadian Solar (<a href="https://alpha.earningswhispers/stocks/CSIQ">CSIQ</a>) reported earnings of $1.11 per share on revenue of $1.97 billion for the fourth quarter ended December 2022. The consensus earnings estimate was $0.76 per share on revenue of $1.93 billion. The Earnings Whisper number was $0.84 per share. The company beat expectations by 32.14% while revenue grew 28.97% on a year-over-year basis.The company said it expects first quarter revenue of $1.60 billion to $1.80 billion and revenue of $8.50 billion to $9.50 billion. The current consensus revenue estimate is $1.95 billion for the quarter ending March 31, 2023 and revenue of $9.92 billion for the year ending December 31, 2023.

FedEx (<a href="https://alpha.earningswhispers/stocks/FDX">FDX</a>) is confirmed to report earnings on Thursday, March 16, 2023 at approximately 4:05 PM ET. The consensus earnings estimate is $2.67 per share on revenue of $22.76 billion, a decline of 3.7% year-over-year, and the Earnings Whisper &reg; number is $2.71 per share. Investors are 26.6% bearish going into the company's earnings release. Option traders are pricing in a 5.8% move on earnings and the stock has averaged a 5.3% move in recent quarters.

Dollar General (<a href="https://alpha.earningswhispers/stocks/DG">DG</a>) reported earnings of $2.96 per share on revenue of $10.20 billion for the fiscal fourth quarter ended January 2023. The consensus earnings estimate was $2.94 per share on revenue of $10.32 billion. The Earnings Whisper number was $2.96 per share. The company reported in-line with expectations while revenue grew 17.93% on a year-over-year basis.The company said it expects fiscal 2024 earnings of $11.11 to $11.32 per share on revenue of $39.93 billion to $40.12 billion. The current consensus earnings estimate is $11.27 per share on revenue of $40.11 billion for the year ending January 31, 2024.

Adobe (<a href="https://alpha.earningswhispers/stocks/ADBE">ADBE</a>) is confirmed to report earnings on Wednesday, March 15, 2023 at approximately 4:05 PM ET. The consensus earnings estimate is $3.68 per share on revenue of $4.62 billion, respresenting 8.4% year-over-year revenue growth, and the Earnings Whisper &reg; number is $3.65 per share. Investors are 51.2% bearish going into the company's earnings release. Option traders are pricing in a 6.1% move on earnings and the stock has averaged a 7.3% move in recent quarters.

Arcos Dorados (<a href="https://alpha.earningswhispers/stocks/ARCO">ARCO</a>) reported earnings of $0.26 per share on revenue of $1.02 billion for the fourth quarter ended December 2022. The consensus earnings estimate was $0.23 per share on revenue of $990.25 million. The Earnings Whisper number was $0.26 per share. The company reported in-line with expectations while revenue grew 30.54% on a year-over-year basis.

Arcos Dorados (ARCO) is confirmed to report earnings on Wednesday, March 15, 2023 at approximately 7:30 AM ET. The consensus earnings estimate is $0.23 per share on revenue of $990.25 million, respresenting 26.9% year-over-year revenue growth, and the Earnings Whisper &reg; number is $0.26 per share. Investors are 43.8% bullish going into the company's earnings release. Option traders are pricing in a 5.1% move on earnings and the stock has averaged a 2.9% move in recent quarters.

Caleres (CAL) reported earnings of $0.65 per share on revenue of $696.43 million for the fiscal fourth quarter ended January 2023. The consensus earnings estimate was $0.64 per share on revenue of $670.72 million. The company beat consensus estimates by 1.56% while revenue grew 2.53% on a year-over-year basis.The company said it expects first quarter earnings of $0.92 to $0.97 per share on revenue of $691.01 million to $705.71 million and fiscal year earnings of $4.10 to $4.30 per share on revenue of $2.97 billion to $3.0275 billion. The current consensus estimate is earnings of $1.02 per share on revenue of $770.12 million for the quarter ending April 30, 2023 and earnings of $4.17 per share on revenue of $3.03 billion for the year ending January 31, 2024.

ZIM Integrated Shipping Services (ZIM) reported earnings of $3.44 per share on revenue of $2.19 billion for the fourth quarter ended December 2022. The consensus earnings estimate was $2.26 per share on revenue of $2.11 billion. The Earnings Whisper number was $2.61 per share. The company beat expectations by 31.80% while revenue fell 36.85% compared to the same quarter a year ago.

The market rallied in the fourth quarter with Utilities #XLU & Materials #XLB seeing the strongest breadth since reporting #earnings, but despite Consumer Discretionary XXLY at its lows, there are more stocks up in the sector since reporting than down, with Tesla #TSLA & Amazon #AMZN weighing it down

The most anticipated earnings releases scheduled for the Week of January 2, 2023 are Walgreens Boots Alliance #WBA, Lamb Weston #LW, UniFirst #UNF, Conagra Brands #CAG, Constellation Brands #STZ, Simply Good Foods #SMPL, RPM International #RPM, Neogen #NEOG, SMART Global Holdings #SGH, and Aehr Test Systems #AEHR

The most anticipated earnings releases scheduled for the week are Oracle #ORCL, Adobe #ADBE, Coupa Software #COUP, Universal Technical Institute #UTI, Accenture #ACN, Jabil #JBL, Dynagas LNG #DLNG, Photronics #PLAB, Darden Restaurants #DRI, and Core & Main #CNM.

It is worth pointing out that may just be a double-bottom in $EURUSD ... so maybe consider $ORCL here

UFP Industries (UFPI) is still expected to report solid results as lumber prices held for most of the quarter but have since fallen putting downward pressure going forward and implies any move higher should likely be sold.

The last time we had a reversal like today was in April 2018

So far you have had a fighting chance going long ahead of earnings this earnings seasons... as long as you've kept away from the Financials. There have been 80 companies among the Financials advance this earnings season compared to 179 declines - by far the worst performing sector.

Is the market telling us COVID is finally over? Quest Diagnostics #DGX already told us they are going to beat estimates next week and 2022 will be above previous expectations on strong COVID-19 testing, but the stock has broken down heading into #earnings.