Paychex, PVH And 3 Stocks To Watch Heading Into Tuesday
Portfolio Pulse from Avi Kapoor
U.S. stock futures are trading lower, with focus on Paychex, PVH, Dave & Buster's, Gritstone bio, and Cal-Maine Foods due to earnings reports and financial forecasts. Paychex is expected to report earnings of $1.37 per share, while PVH reported higher than expected Q4 results but anticipates a revenue decline. Dave & Buster's and Cal-Maine are also set to report their earnings, and Gritstone bio announced a $32.5 million public offering.
April 02, 2024 | 11:14 am
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NEUTRAL IMPACT
Cal-Maine is expected to post quarterly earnings at $2.46 per share on revenue of $692.35 million. Shares fell 0.3% in after-hours trading.
The minor decrease in after-hours trading suggests a neutral market anticipation for the earnings report. The impact is considered neutral pending the actual earnings results.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Paychex is expected to report quarterly earnings at $1.37 per share on revenue of $1.46 billion. Shares fell 0.1% in after-hours trading.
The slight after-hours dip suggests a cautious market response to the expected earnings report. The impact is neutral as the market awaits actual earnings results.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Dave & Buster's is expected to report earnings of $1.10 per share on revenue of $602.61 million. Shares fell 2% in after-hours trading.
The 2% drop in after-hours trading indicates a cautious investor sentiment ahead of the earnings report. The impact remains neutral until the actual results are released.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Gritstone bio reported pricing of a $32.5 million underwritten public offering, leading to a 32.8% dip in after-hours trading.
The substantial drop in share price following the announcement of the public offering indicates a strong negative market reaction, likely due to dilution concerns.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
PVH reported upbeat Q4 results but expects FY24 earnings of $10.75 to $11.00 per share with a revenue decline of 6% to 7%. Shares fell 22.6% in after-hours.
The significant after-hours drop reflects investor concerns over the projected revenue decline, despite the positive Q4 results. The negative outlook for FY24 heavily impacts the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 90