Jabil, Costco And 3 Stocks To Watch Heading Into Thursday
Portfolio Pulse from Avi Kapoor
U.S. stock futures are trading higher, with investor focus on earnings reports from Jabil Inc. (JBL), Adobe Inc. (ADBE), Costco Wholesale Corporation (COST), Mueller Water Products, Inc. (MWA), and Lennar Corporation (LEN). Jabil is expected to report strong earnings, while Adobe issued a weak sales forecast for 2024. Costco's earnings are anticipated post-market close, Mueller Water Products reported better-than-expected results, and Lennar is also expected to report earnings after market close.
December 14, 2023 | 6:37 am
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NEGATIVE IMPACT
Adobe Inc. reported strong Q4 earnings but projected weak sales for 2024, causing its shares to fall 4.9% in after-hours trading.
The weak sales forecast for 2024 overshadows the positive Q4 earnings, likely leading to a short-term negative impact on the stock price.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Mueller Water Products reported better-than-expected Q4 results and forecasts Q1 net sales between $245 million to $255 million. Shares dropped 2.2% after-hours.
Despite positive earnings, the after-hours stock price decline indicates a potential short-term negative reaction from the market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 85
NEUTRAL IMPACT
Costco Wholesale Corporation is expected to report earnings of $3.42 per share on revenue of $57.68 billion after market close. Shares saw a slight increase of 0.1% after-hours.
With earnings yet to be released and a minimal change in after-hours trading, the short-term impact is neutral until the actual earnings are disclosed.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
Lennar Corporation is expected to post earnings of $4.61 per share on revenue of $10.22 billion after the markets close. The stock inched up 0.1% after-hours.
The stock's minor increase after-hours suggests a neutral short-term impact, pending the actual earnings report.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Jabil Inc. is expected to report strong earnings of $2.58 per share on revenue of $8.35 billion. The stock rose 1.9% in after-hours trading.
Positive earnings expectations and after-hours stock rise suggest a likely increase in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90