After a few volatile days, stocks ended the week on a strong note following the release of the Federal Reserve’s favorite inflation measure. Personal consumption expendituresReal GDP, which excludes food and energy costs, rose 0.2% over the period, in line with expectations.
The report reassured investors earlier this week.
Lululemon, which has been struggling with sales, said this week
Lululemon reports its first-quarter results on Wednesday. The sports apparel company are suffering from sluggish sales For quite some time, and earlier this year It will lay off hundreds of employees and close distribution centers. Amid the turmoil, Zacks Investment Research Predicted Earnings per share for the current quarter are expected to be $2.39, up from $2.28 in the same period last year.
Dollar Tree reports earnings
Dollar Tree Announced The company announced on May 30 that it would acquire hundreds of 99-cent stores, sending its stock price up that day. The company is scheduled to release its earnings report on Wednesday morning. It expects quarterly earnings per share of $1.43, According to Zacks Investment Research, The figure for the same period last year was $1.47.
New IPOs this week
Novelis, owned by Indian billionaire Kumar Mangalam Birla’s Hindalco Industries, is going public on Thursday. The company plans to raise $945 million by selling 45 million shares at between $18 and $21 apiece. The Novelis IPO is expected to be the largest U.S. IPO by an Indian company.
Healthcare payments software company Waystar Holdings Inc. is also proceeding with its initial public offering as planned. According to an SEC filing: The company said last week it plans to raise about $968 million through its IPO.
Employment statistics released
The Bureau of Labor Statistics of the Department of Labor release Friday’s employment report. As of last month, Weekly unemployment claims rose to 231,000; The highest level since August. Profiting the stock market, This comes as expectations grow that the Federal Reserve may cut interest rates soon.
