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S&P 500 Preview – Earnings Resume on Tuesday May 25, After the Memorial Day Holiday

David Becker
·2-min read

The US equity markets are closed on Monday, May 25 2020, in observance of the Memorial Day holiday. Traders will turn their eyes to earnings results on Tuesday May 25, as retail earings continue. The better than expected numbers release this week have lifted the entire sector as the US begins to relax some of its restrictions.

Dick’s Sporting Goods Inc.

Dick’s (DKS) is scheduled to release financial results on Tuesday May 25, after a long holiday weekend. Expectations are for the company to earn -$0.36 per share on 1.49-billion in revenues. This compares to $1.22 per share in the prior quarter. Earnings expectations have dropped 200% from $0.30 per share 30-days before to -$0.36 per share, which does not bode well for the share price. Growth estimates are expected to contract by 158%.

Sporting goods have underperformed as consumers have focused on items they can use currently since most sporting activities have been restricted. The stock price has rebounded 100% since hitting its lows and still have room to run if financial results beat expectations.

Cracker Barrel Old Country Store

Cracker Barrel (CRBL) is scheduled to release its earnings results on Tuesday May 25, 2020. Expectations are for the company to earn $0.07 per share on $599.3 in revenue. This compares to $2.58 per share in the quarter prior. Earnings estimates have tumbled from $1.14 per share 30-days ago to $0.07 per share. Growth estimates are expected to contract by 97%.

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This company relies on in-store traffic which will likely be difficult to recover.

The US equity markets are closed on Monday, May 25 2020, in observance of the Memorial Day holiday. Traders will turn their eyes to earnings results on Tuesday May 25, as retail earings continue. The better than expected numbers release this week have lifted the entire sector as the US begins to relax some of its restrictions.

 

This article was originally posted on FX Empire

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