Both FedEx and Nike have earnings reports that are scheduled to be released on Thursday. Before those reports come out, the companies’ stocks are up.

Nike (NKE) is up 1.04, while FedEx (FDX) is up 1.12%, indicating that traders think both of these companies will post positive earnings reports in the coming days.

FedEx Earnings Outlook

For FedEx, the company’s third quarter fiscal earnings are set to be released. The expectation is that revenue will be down slightly but that shipping will increase over the next quarter. According to analysts, revenue should be down about 1% for the quarter for FedEx, but share prices should increase by 1%.

Retailers are looking forward to an earlier than normal shipping season, which will drastically benefit FedEx. They expect the height of that shipping season to happen in June, which could boost FedEx sales very high in the near future. It is no surprise that with these estimates FedEx has a positive stock price outlook. That may change on Thursday, however, if the report is not in line with expectations.

Nike Earnings Outlook

On Thursday, Nike’s third quarter earnings report will be released as well, detailing the company’s revenue and projecting sales estimates for the coming fiscal quarter.

Nike’s stock price started to fall last week and only Monday did it begin to climb out of the ditch. Expectations are moderately positive ahead of the earnings report.

During the last earnings report, Nike’s earnings were down 3%, with wholesale revenue down 9%. The company announced it would be laying off workers and reorganizing the business structure in order to save an estimated $2 billion. If Nike was successful in pulling that off, then that could pay out very well for this upcoming earnings report.

Watch the report on Thursday to see if the company really did save money and boost its profit margins, which is where the focus will likely be in light of its efforts to restructure.