This is going to be an action-packed week in the stock market. Investors, shareholders, analysts and other industry players have a plethora of events lined up for them in what is going to be a busy week. Several companies will release their quarterly earnings reports, while others hold investor interaction days and annual events to keep investors and shareholders fully engaged. On the other hand, economists will be watching the latest economic data on the spending and inflation rate in the U.S.
Today, Monday, September 13, 2021, Oracle Corporation (ticker: ORCL) will release its earnings report for its first quarter of the 2022 fiscal year (Q1 FY2022) after market close. The company’s shares have grown 40% year to date, but it sold off after releasing quarterly reports of the last two quarters. Oracle’s stock rally is attributed to increased investor confidence in the gradual shift of its business to the cloud, which is majorly fuelled by the COVID-19 pandemic. In both cases where Oracle’s stock sold off, it has presented major buying opportunities since it has remained profitable.
Consensus analysts expect Oracle to report Earnings Per Share (EPS) of $0.97, representing a year over year growth of 4.3%. The company is also expected to report revenue of $9.77 billion, also a year over year growth of 4.3%.
Wall Street also expects Oracle to report adjusted revenue from its cloud services and license support of $7.4 billion, $785.3 million from hardware sales, $738.2 million from services, and $865.1 million from both cloud and on-premise license. Oracle’s stock is currently trading at $89.68, and it has a market capitalisation of $250.39 billion.
Another event taking place today is a Financial Analyst Briefing hosted by Zoom Video Communications, Inc. (ticker: ZM) top executives. The briefing will be delivered during the company’s premier customer event, Zoomtopia, covering Zoom’s business strategy, opportunities, and initiatives. Zoom’s stock is currently trading at $301.50, and it has a market cap of $89.58 billion.
The U.S. Department of the Treasury rounds up today’s happening with the release of the U.S. budget statement for August. It should be noted that the U.S. 2021 fiscal year ends this month, and the Congressional Budget Office estimates that the country’s deficit will reach $3 trillion, a little bit lower than last year’s deficit that ended the 2020 fiscal year with a record deficit of $3.1 trillion. There have been discussions by the U.S. Congress to raise the debt-ceiling limit.
Tomorrow, Tuesday, September 14, 2021, Apple Inc. (ticker: AAPL) will host its annual Apple Event, in which it is expected to launch the new instalment of its popular smartphone brand, the iPhone 13. The event, which will be streamed live on the company’s website, will see the company release alongside the iPhone 13 other products like a redesigned Apple Watch and a new AirPods model.
Chevron Corporation (ticker: CVX), the second-largest oil company in America, will host a conference call to discuss its plans of reducing its carbon footprint. The company, just like many other energy companies around the world, is looking at having low to zero carbon emissions from their business operations. Its Chief Executive Officer (CEO) Mike Wirth is among the speakers that will shed light on the company’s transition into a clean energy company and how and when it plans to achieve this. Chevron stock, which has lost 1.51% in the last five days, is currently trading at $96.07, and its market cap stands at $185.79 billion.
Roche Holding AG (ticker: RHHBY), a Swiss multinational healthcare company specialising in pharmaceuticals and diagnostics, will host a virtual “pharma day” to discuss its drugs under development and their market opportunities. The company’s stock is selling at $46.69 in the over-the-counter (OTC) market, and it has a market capitalisation of $321.20 billion. Ecolab Inc. (ticker: ELC) and MarketAxess Holdings (MKTX) also have investor days on Tuesday.
The U.S. Bureau of Labour Statistics will also report the Consumer Price Index (CPI) of August. In the past two months, the CPI has increased 5.4% annually, and economists expect the increase to have continued in August, at a year over year gain of 5.3%. Economists also expect a 4.3% rise in the core CPI, matching July’s rate of growth.
Cisco Systems Inc. (ticker: CSCO) will hold its virtual investor day on Wednesday, September 15, 2021. The company, which specialises in developing, manufacturing, and selling networking software, hardware, telecom equipment and other high-tech products, has seen its stock soar 31.69% year to date. It is currently trading at 57.89%, with a market cap of $243.96 billion.
Also, on Wednesday, the U.S. Bureau of Labour Statistics will report the export and import prices for August. Economists expect export prices to have risen 0.4% in August, which is slightly lower than the 1.3% gain in July. Economists also expect U.S. import prices to match July’s rate of growth at 0.3%.
The Census Bureau reports on retail sales for August. From July’s level, the consensus estimate is for a 1% monthly decline, to $612 billion. After decreasing at a similar rate in July from June’s Excluding autos, expectations are for a 0.2% month-over-month dip, after a 0.4% drop previously.
One of the few companies on the S&P 500 Index that releases its earnings report monthly is Progressive Corporation (ticker: PGR). This insurance company, which is one of the largest providers of car insurance in the United States, will release its earnings report for the month of August on Friday, September 17, 2021. Progressive Corp has seen its stock drop 3.75% year to date, and it is currently trading at $93.49 a share, with a market cap of $54.66 billion.
The University of Michigan will round up a busy stock market week with the release of its U.S. Consumer Sentiment Index (CSI) for September. Economists are predicting a 71.3 reading, one point higher than last month’s.