|UPCOMING WEEK 11/9 – 11/13
$CGC (Before Market Open)
Canopy Growth Corporation is predicted to lose 23 Cents per share and EPS is expected to decrease by 15% from last quarter. While EPS isn’t a positive, revenue is expected to increase to $87.61 M and grow by 35%. We aren’t necessarily looking for a great earnings call but to use this as a baseline for the future under a Biden presidency. As the election comes to a close the possibility of legal marijuana nationwide under a Biden administration is very possible. There will become much more space for growth in the next 4 years.
$BYND (After Market Close)
BYND is a volatile stock that we often trade on its way down and up. For Q3 the estimated prediction for EPS is $.05 and its Revenue Estimate is $132.24M. With the possibility of another shutdown and stay-at-home orders the retail sales for Beyond Meat may continue to grow and provide a better EPS and Revenue in the upcoming quarters.
$NCLH (After Market Close)
NCLH will provide an outlook for Cruise stocks on what the entire sector has looked like through Q3. With 0 cruises setting sail and these ships having to idle in their ports Norwegian’s Q3 estimate is very grim. The estimate for EPS is $-2.24 and the Revenue is $.76M -100%, the election theme is continued as the Biden Administration will force social distancing and stay-at-home orders. As with most cruise and travel stocks it could be up to a year for any revenue to come in for these companies.
$LYFT (After Market Close)
This is solely based on the election results of California allowing their drivers to be independent contractors. The Q3 earnings are expected to be pretty ugly as coronavirus has all but stalled business for LYFT. The estimate for EPS in Q3 is $-.92 and Revenue is $502.03M decreasing by -47.5%. In the same tone as BYND and NCLH under the Biden Administration with possible shutdowns and stay-at-home orders LYFT may be facing a few ugly quarters ahead.
$DIS (After Market Close)
Disney is a blue chip stock that has been hit hard due to Covid-19, over 30% of their business comes from theme parks and hotels. Their EPS estimate is $-.65, and revenue is expected to be $14.14B. In the next few quarters $DIS may have to rely on the Direct-to-Consumer, and Media Networks portions of their business with COVID-19 guidelines beginning to change.
$DK (Before Market Open)
As more election results come in and sports betting is becoming legalized in many states, the space for sportsbooks is becoming massive. More and more states are continuing to pass laws for legal sports betting and Draftkings is on the leading edge. Their estimate for EPS $-.64 and Revenue is $132.19M, and we can expect these revenue projections to increase in future quarters.
EVENTS & TALKS
Monday: Fed Mester & Fed Harker Speeches at 1:30 and 2:20 pm EST, respectively
Tuesday: Fed Quarles Testimony at 2:00 pm EST
Thursday: U.S. Inflation rate YoY at 8:30 am EST. Fed Evans and Fed Williams Speeches at 1:00 and 2:00 pm, respectively
Friday: Fed Williams & Fed Bullard Speeches at 7:00 and 8:30 am, respectively