FedEx, General Mills And 3 Stocks To Watch Heading Into Wednesday
Portfolio Pulse from Avi Kapoor
General Mills is expected to report earnings of $1.16 per share on revenue of $5.35 billion. FedEx reported weaker-than-expected Q2 earnings and lowered its full-year revenue outlook, causing its shares to drop 9.8%. The Toro Company is anticipated to earn 56 cents per share with revenue of $973.65 million. Steelcase posted higher earnings but missed sales estimates and expects Q4 adjusted earnings of 19-23 cents per share on revenue of $765-790 million, leading to a 7.9% share price drop. Micron Technology is expected to report a quarterly loss of 97 cents per share on revenue of $4.64 billion.
December 20, 2023 | 10:00 am
News sentiment analysis
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NEGATIVE IMPACT
FedEx reported weaker-than-expected Q2 earnings and lowered its full-year revenue outlook, causing a significant drop in its share price.
Negative earnings reports and reduced revenue outlooks are strong indicators of potential stock price declines in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 90
NEGATIVE IMPACT
Steelcase reported higher earnings but missed sales estimates and provided Q4 guidance, resulting in a 7.9% drop in its share price.
While higher earnings are positive, missing sales estimates and the subsequent share price drop indicate a negative short-term impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 85
NEUTRAL IMPACT
Micron Technology is expected to post a quarterly loss, but a slight rise in after-hours trading suggests investors may not be overly concerned.
The expected loss is negative news, but the slight increase in after-hours trading could mean the market has already priced in the news.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
General Mills is expected to report solid earnings, which could positively influence its stock price if the actual figures meet or exceed expectations.
Positive earnings expectations typically lead to an optimistic outlook for the stock, potentially driving up its price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
The Toro Company is expected to report earnings, and a positive outcome could lead to an uptick in its stock price.
Anticipation of favorable earnings typically has a positive effect on stock prices, but the actual impact will depend on the reported figures.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70