Stock Roundup before Quarterly Reports for PepsiCo, Domino’s, and More
There are a few major upcoming quarterly earnings reports coming out this week and we are taking a look at a few of them before they release. Here is what to expect this week.
Domino’s Pizza (DPZ) will release its third quarterly earnings report on Thursday, and for now, the stock price is down 3.55%. The company is expected to show a decline in earnings per share but an increase in revenue once the report drops. Revenue is anticipated to be up by 7.2% from last year to $1.1 billion. Earnings per share for the company should be around $3.68, which would mean a decline of 12% from last year.
Domino’s stock is already heading lower as some analysts have reassessed their predictions and are lowering their expectations for the earnings report.
PepsiCo Outlook
PepsiCo (PEP) stock is down 0.63% ahead of the Tuesday earnings report release. The company has tried to expand its brand recently but is also facing declining sales and fewer customers in stores. The company may demonstrate some minor gains, but investors are not expecting major positive movement for the stock. In fact, if the company only posts small gains, that could drive the stock down further than it already is.
Market Snapshot
The US stock market indices are down, with the Nasdaq Composite falling 0.44%. The S&P 500 fell 0.45%, and the Dow Jones dropped 0.62% for the day. The market is kept back by heightened global tensions over Middle East fighting, which has the potential to escalate much further soon.
This week, we will hear from several Federal Reserve chairmen, and we anticipate some news on further interest rate cuts as well as an update on the state of inflation and the US economy. Expect the stock market to shift in response to what the Fed chairmen have to say.
In other quarterly earnings news, Progressive (PGR) is down 3.27% as the company gets ready to release their earnings report on Thursday as well. Later in the week, we will get earnings reports from JP Morgan (JPM) and Wells Fargo & Co. (WFC)
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