Notable Events for the week of May 28 to 31, 2024
May 26, 2024
Tuesday – May 28, 2024
Earnings watch – Notable companies due to report include CAVA Group, Inc. (CAVA) and Box, Inc. (BOX).
- CAVA Group, Inc. (CAVA):
CAVA Group, Inc. (CAVA) is set to report its 1st quarterly earnings for FY2024 on May 28th after market.
Estimated EPS $0.04 and estimated revenue is $245.42M.
The company expect a growth of 3% to 5% for the FY2024.
The expected option implied volatility is 5.9%.
- Box, Inc. (BOX):
Box, Inc. (BOX) is expected to release its earnings for the 1st quarter of 2025 on 28th May after market.
Estimated EPS is $0.36 and estimated revenue is $262.04M.
For the 1st quarter of FY2025, revenue is expected to be in the range of $261 million to $263 million. Non-GAAP diluted net income per share attributable to common stockholders is expected to be in the range of $0.35 to $0.36
The expected option implied volatility is 8.8%.
2:55 am Cleveland Fed President Loretta Mester and Fed Gov. Michelle Bowman speak in Japan
9:55 am Minneapolis Fed President Neel Kashkari speaks
10:00 am Consumer confidence for month of May, forecast 96.0, previous 97.0
1:00 pm Fed Gov. Lisa Cook and San Francisco Fed President Mary Daly speak
Wednesday – May 29, 2024
Earnings watch – Notable companies due to report include Chewy, Inc. (CHWY), Advanced Auto Parts (AAP), Bank of Montreal (BMO), Salesforce, Inc (CRM), C3.ai, Inc (0A5W.IL), UiPath, Inc (PATH), Okta, Inc (OKTA), Nutanix, Inc (NTNX), Helmerich & Payne, Inc (HP), Aberchrombie & Fitch Company (ANF), and Dick’s Sporting Goods, Inc (DKS).
- Chewy, Inc. (CHWY):
Chewy, Inc. (CHWY) is set to report its 1st quarterly earnings for the FY2024 on 29th May pre-market.
Estimated EPS is $0.07 and estimated revenue is $2.84B.
The expected option move is 13.82%.
- Advanced Auto Parts (AAP):
Advanced Auto Parts (AAP) is set to report its 1st quarterly earnings for the FY2024 on 29th May pre-market.
Estimated EPS is $0.69 and estimated revenue is $3.43B.
For the FY2024, revenue is expected to be in the range of $11.3B to $11.4B. Non-GAAP diluted net income per share attributable to common stockholders is expected to be in the range of $3.75 to $4.25.
The expected option implied volatility is 13.51%
- Bank of Montreal (BMO):
Bank of Montreal (BMO) is set to report its 2nd quarterly earnings for the FY2024 on 29th May pre-market.
Estimated EPS is $2.02 and estimated revenue is $5.86B.
The expected option implied volatility is 3.9%
- Salesforce, Inc (CRM):
Salesforce, Inc (CRM) is set to report its 1st quarterly earnings report for the FY2025 on 29th May after-market.
Estimated EPS is 2.37 and estimated revenue is $9.15B.
Initiates Full Year FY25 Revenue Guidance of $37.7 Billion to $38.0 Billion. Initiates Full Year FY25 EPS Guidance of $9.68 to $9.75.
The expected option implied volatility is 6.84%.
- C3.ai, Inc (0A5W.IL):
C3.ai, Inc (0A5W.IL) is set to report its 4th quarterly earnings report for the FY2024 on 29th May after-market.
Estimated EPS is -0.30 and estimated revenue is $83.38M.
According to the 3rd quarter report of FY2024, total revenue for the 4th quarter is expected to be between $82M-$86M.
- UiPath, Inc (PATH):
UiPath, Inc (PATH) is set to report its 1st quarterly earnings for the FY2025 on 29th May after-market.
Estimated EPS is $0.12 and estimated revenue is $333.04M.
For the 1st quarter FY2025, revenue is expected to be in the range of $330M to $335M.
The expected option implied volatility is 13.11%
- Okta, Inc (OKTA):
Okta, Inc (OKTA) is set to report its 1st quarterly earnings for the FY2025 on 29th May after-market.
Estimated EPS is $0.54 and estimated revenue is $604.34M.
For the 1st quarter of FY2025, Total revenue guidance is of $603 million to $605 million. Non-GAAP diluted net income per share is of $0.54 to $0.55.
- Nutanix, Inc (NTNX):
Nutanix, Inc (NTNX) is set to report its 3rd quarterly earnings for the FY2024 on 29th May after-market.
Estimated EPS is $0.16 and estimated revenue is $516.18M.
For the 3rd FY2024, revenue is expected to be in the range of $510M to $520M.
The expected option implied volatility is 12.6%
- Helmerich & Payne, Inc (HP):
Helmerich & Payne, Inc (HP) is set to report its 3rd quarterly earnings for the FY2024 on 29th May after-market.
Estimated EPS is $0.78 and estimated revenue is $672.68B.
For the 3rd quarter of FY2024, company expect direct margins of $255M-$275M.
The expected option implied volatility is 5.86%
- Aberchrombie & Fitch Company (ANF):
Aberchrombie & Fitch Company (ANF) is set to report its 1st quarterly earnings for the FY2024 on 29th May after-market.
Estimated EPS is $1.73 and estimated revenue is $963.26M.
For the 1st quarter FY2024, revenue is expected to be in the range of $826M-$846M.
The expected option implied volatility is 13.91%
- Dick’s Sporting Goods, Inc (DKS):
Dick’s Sporting Goods, Inc (DKS) is set to report its 1st quarterly earnings for the FY2024 on 29th May after-market.
Estimated EPS is $2.96 and estimated revenue is $2.93B.
For the FY2024, company is expecting a revenue of $12.85B-$13.25B. guidance for the earning per diluted share is $12.85-$13.25.
The expected option implied volatility is 9.24%
1:45 pm New York Fed President John Williams speaks
2:00 pm Fed Beige Book
Thursday – May 30, 2024
Earnings watch – Notable companies due to report include Kohl’s Corporation (KSS), Foot Locker, Inc (FL), Dollar General Corporation (DG), Best Buy Co., Inc (BBY), Costco Wholesale Corporation (COST), Dell Technologies, Inc (DELL), Zscaler, Inc (ZS), Marvell Technology, Inc (MRVL), MongoDB, Inc (MDB), ULTA Beauty, Inc (ULTA), SentinelOne, Inc (S), NetApp, Inc (NTAP), Veeva System, Inc (VEEV).
- Kohl’s Corporation (KSS):
Kohl’s Corporation (KSS) is set to report its 1st quarterly earnings report for the FY2024 on 30th May pre-market.
Estimated EPS is 0.04 and estimated revenue is $3.33B
For the FY2024, company expects net sales from-1%-1% and diluted EPS in the range of $2.1-$2.7.
The expected option implied volatility is 11.32%
- Foot Locker, Inc (FL):
Foot Locker, Inc (FL) is set to report its 1st quarterly earnings report for the FY2024 on 30th May pre-market.
Estimated EPS is 0.12 and expected revenue is $1.88B.
2024 Non-GAAP EPS Guidance of $1.50-$1.70. The company sales expectation for the year is -1%-1%.
The expected option implied volatility is 17.03%
- Dollar General Corporation (DG):
Dollar General Corporation (DG) is set to report its 1st quarterly earnings report for the FY2024 on 30th May pre-market.
Estimated EPS is 1.57 and expected revenue is $9.9B.
For the year 2024, company expects Net sales growth in the range of approximately 6.0% to 6.7%. Diluted EPS in the range of approximately $6.80 to $7.55
The expected option implied volatility is 9.1%.
- Best Buy Co., Inc (BBY):
Best Buy Co., Inc (BBY) is set to report its 1st quarterly earnings report for the FY2025 on 30th May at pre-market.
Estimated EPS is 1.08 and estimated revenue is $8.96B.
For the year 2025 company expects revenue of $41.3 billion to $42.6 billion and non-GAAP diluted EPS of $5.75 to $6.20.
The expected option implied volatility is 6%.
- Costco Wholesale Corporation (COST):
Costco Wholesale Corporation (COST) is set to report its 3rd quarterly earnings report for the FY2024 on 30th May after-market.
Estimated EPS is 3.7 and expected revenue is $58.04B.
The expected option implied volatility is 4.32%.
- Dell Technologies, Inc (DELL):
Dell Technologies, Inc (DELL) is set to report its 1st quarterly earnings report for the FY2025 on 30th May after-market.
Estimated EPS is 1.26 and expected revenue is $21.68B.
Dell Technologies expects FY25 revenue to be in the range of $91 to $95 billion, with a midpoint of $93 billion and Diluted Non-GAAP EPS Expected to be $7.50 plus or minus 25 cents. Q1 FY25 Revenue Expected to be in the range of $21 to $22 billion and Q1 Diluted Non-GAAP EPS: Expected to be $1.15 plus or minus 10 cents.
The expected option implied volatility is 10.98%.
- Zscaler, Inc (ZS):
Zscaler, Inc (ZS) is set to report its 3rd quarterly earnings report for the FY2024 on 30th May after-market.
Estimated EPS is 0.65 and estimated revenue is $535.91M.
For the third quarter of fiscal 2024, company expects Revenue of $534 million to $536 million and Non-GAAP net income per share of approximately $0.64 to $0.65
The expected option implied volatility is 10.5%.
- Marvell Technology, Inc (MRVL):
Marvell Technology, Inc (MRVL) is set to report its 1st quarterly earnings report for the FY2025 on 30th May after-market.
Estimated EPS is 0.25 and estimated revenue is $1.18B.
For the 1st quarter company expects net revenue of $1.150 billion +/- 5% and Non-GAAP diluted income per share is expected to be $0.23 +/- $0.05.
The expected option implied volatility is 8.47%.
- MongoDB, Inc (MDB):
MongoDB, Inc (MDB) is set to report its 1st quarterly earnings report for the FY2025 on 30th May after-market.
Estimated EPS is 0.4 and estimated revenue is $439.5M.
For the 1st quarter company expects a revenue between $436M-$440M and Non-GAAP EPS of $0.34-$0.39.
The expected option implied volatility is 11.66%.
- ULTA Beauty, Inc (ULTA):
ULTA Beauty, Inc (ULTA) is set to report its 1st quarterly earnings report for the FY2025 on 30th May after-market.
Estimated EPS is 6.26 and estimated revenue is $2.73B.
For the FY2024, company expects a revenue of $11.7B-$11.8B and diluted earnings per share of $26.2-$27.
The expected option implied volatility is 3.64%.
- SentinelOne, Inc (S):
SentinelOne, Inc (S) is set to report its 1st quarterly earnings report for the FY2025 on 30th May after-market.
Estimated EPS is -0.05 and estimated revenue is $181.09M.
Expected revenue for the 1st quarter is $181M and for the FY2025 it is between $812M-$818M
The expected option implied volatility is 14.08%.
- NetApp, Inc (NTAP):
NetApp, Inc (NTAP) is set to report its 4th quarterly earnings report for the FY2024 on 30th May after-market.
Estimated EPS is 1.78 and estimated revenue is $1.65B.
For the 4th quarter net revenues expected to be between $1.585 billion and $1.735 billion
The expected option implied volatility is 3.46%.
- Veeva System, Inc (VEEV):
Veeva System, Inc (VEEV) is set to report its 1st quarterly earnings report for the FY2025 on 30th May after-market.
Estimated EPS is 1.42 and estimated revenue is $641.94M.
For fiscal year 2025, company expect total revenue between $2.725 and $2.740 billion. For Q1, company expect total revenue between $640 and $643 million. Non-GAAP earnings per share for Q1 is anticipated to be $1.42 to $1.43.
The expected option implied volatility is 9%.
8:30 am Initial jobless claims for May 25 the, expected 218,000, previous 215,000
8:30 am GDP (first revision) for Q1 expected 1.2%, previous 1.6%
12:05 pm New York Fed President John Williams speaks
5:00 pm Dallas Fed President Lorie Logan speaks
Friday – May 31, 2024
8:30 am Personal income for April, expected 0.3%, previous 0.5%
8:30 am Personal spending for April, expected 0.4%, previous 0.8%
8:30 am PCE (year-over-year) for April, expected 2.7%, previous 2.7%A significant crypto-related event is the massive $4.3 billion options expiry, as reported by Deribit. This involves Bitcoin and Ether options worth $2.7 billion set to expire, which could significantly impact the cryptocurrency market dynamics.