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This Week's Spotlights: Economic Data, Earnings, COVID-19 Recovery

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This Week's Spotlights: Economic Data, Earnings, COVID-19 Recovery

Among key business events for the week is the Job Openings and Labor Turnover Survey for April which is down from 6.2 million in March. Additionally, stocks surged last Friday due to better-than-expected May jobs data, showing us that the economic recovery from the coronavirus lockdown is underway.

Monday

Coupa Software Inc (NASDAQ: COUP)'s earnings topped guidance. Its revenue went up 47% from a year ago to $119.2 million -- also well above of the company's guidance range of $111.5 million to 112.5 million. This quarterly report also revealed an earnings surprise of 185.71%.

Casey General Stores Inc (NASDAQ: CASY) also reported earnings but lagged estimates. The convenience store chain missed the Zacks Consensus Estimate of $1.97 per share after it delivered quarterly earnings of $1.67 per share.

Earnings aside, the troubled Macy's Inc (NYSE: M) was struggling even before the pandemic. Its stock rallied on Monday as it raised $4.5 billion to fund its operations and pay off debt.

Tuesday

HD Supply Holdings Inc (NASDAQ: HDS) reported earnings and rallied. Although the net fiscal first-quarter profit fell short of expectations, adjusted profit and sales of the industrial distribution company fell less than expected despite COVID-19 challenges. Guidance hasn't been given due to the pandemic uncertainties.

Brown-Forman Corporation (NYSE: BFB) earnings are expected to decline due to several factors. Its fourth-quarter fiscal 2020 results are expected to be hurt by the postponement of regular business activities.

Chewy Inc (NYSE: CHWY) will report after market close. The stock hit a record high of $51.72 per share this year. Wall Street officially expects a loss of $0.11 per share on revenues of $1.55 billion. The company engages in the e-commerce business and is devoted to pet-related products.

Wednesday

American Airlines Group Inc (NASDAQ: AAL), Caterpillar Inc (NYSE: CAT), Expedia Group (NASDAQ: EXPE), and Target Corporation (NYSE: TGT) will hold their annual meetings with shareholders.

Thursday           

Adobe Inc (NASDAQ: ADBE) and Lululemon Athletica (NASDAQ: LULU) will report.

Lululemon had a great year as yoga pants became the official uniform of the pandemic.

As for Adobe, another standout, its stock recently hit a record high of $396.17 per share. The diversified software company is expected to deliver earnings of $2.33 per share on $3.17 billion in revenue.

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