Nvidia (NVDA) is leading the way as earnings season lulls, but it still has the potential for some action.Temu owner based in China PDD Holdings (PDD), home builder toll brothers (arrive at the goal (TGT) are all scheduled to be reported. The same goes for a number of smaller stocks whose prices are rising near buy points. star bulk carrier (SBLK) and modine manufacturing (Mod). Meanwhile, stock market investors will be listening closely to the Fed’s comments this week, and IBD’s market exposure gauge will be at full throttle.
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5 stocks near buy points as the stock market rises
With major indexes hitting record highs, many leading stocks have already issued buy signals. But there are many others in the position. Among them are microsoft (MSFT), intuitive surgery (ISRG), novo nordisk (NVO), Apollo Global Management (APO) and Reservation held (BKNG). Both have built shallow foundations and are rebounding from their 50-day moving averages. All are close to official breakouts, and some are still offering early entries. For Microsoft, Thursday’s high could serve as an alternative buy point. Booking Holdings formed a handle at a buy point of 3,811.57. Novo and Intuitive Surgical may also be manufacturing handles.
Economic calendar: data takes a backseat
The minutes of the Fed’s April 30-May 1 meeting, released Wednesday, will be in the spotlight next week. But Wall Street will be more interested in what individual Fed members say after the moderate April inflation numbers reported last week. April new home sales numbers will be released Thursday, as will the S&P Global U.S. Manufacturing and Services Survey report for May. The final survey in April showed activity at a four-month low. Durable goods orders announced on Friday will indicate whether there is an upturn in business investment. The University of Michigan’s Consumer Confidence Index will show whether confidence has actually fallen as much as preliminary May data indicated.
Rising CPI eases Fed concerns as retail sales slow. S&P500 hits new high
AI leader: Nvidia revenue up 241%
AI chip maker Nvidia is scheduled to report first-quarter financial results later Wednesday. Analysts said the graphics chip leader reported revenue of $24.51 billion for the quarter ended April 28, up 241%, and adjusted earnings of $5.58 a share, compared with the same period a year earlier. It is expected to increase by 412% compared to the previous year. This is the fourth consecutive quarter of triple-digit numbers. Sales and profit growth rate. Stock market investors will be keeping an eye on that guidance. For the fiscal second quarter, Wall Street modeled Nvidia’s earnings at $5.93 per share (up 120% year over year) and sales at $26.52 billion, up 96%. I am. Nvidia stock built his 10-week cup base at 974 buy points. The stock is up about 86% since the beginning of the year.
Nvidia, IBD stock today reaches buy point ahead of earnings report
Retail Revenue: AutoZone, Reported
Major retailers continue to announce their financial results for the year, with expectations ranging from flat to mixed. urban outfitters Tuesday’s (URBN) and Wednesday’s targets are expected to yield mixed results. autozone (AZO)’s forecasts are a little higher, with EPS and revenue targeting mid-single-digit earnings. AZO stock has risen 12% since the beginning of the year and has fallen below 10-week support.
China’s stock market leader: Temu’s parents are in the spotlight
PDD Holdings is scheduled to report earnings before the market opens on May 22nd. Analysts expect Temu and Pinduoduo’s parent company’s PDD sales to jump 95% to $10.4 billion in the March quarter, according to FactSet data. Earnings are expected to increase 46% to $1.43 per share. PDD stock fell at the beginning of the year due to concerns about the Chinese economy and tightening U.S. regulations on TEMs. However, the stock has risen more than 20% since mid-April and is hovering around a cup-with-handle buy point of 142.32.
Transport: A turning point in transport?
Two very different shipping operations will be reported next week. Durian LPG (LPG) is scheduled to report early, while StarBulk is scheduled to report late on Wednesday. Greece-based StarBulk operates dry bulk carriers that transport grain, ore and cement. Dorian is a tanker fleet based in Connecticut that transports liquefied petroleum gas. StarBulk offers his 5.46% dividend and is in the buy zone after breaking out of a flat base on May 7th. Durian is also in the buy zone after clearing the cup-with-handle buy point in early May. StarBulk’s profits and revenue are expected to soar in his high double digits. If that happens, the losing streak will end after six quarters. Dorian has posted five quarters of triple-digit profit growth, but that appears to be rapidly slowing.
Real estate: Toll Brothers faces high hurdles
Luxury home builder Toll Brothers is in buy zone ahead of its second-quarter earnings report late Tuesday. Analysts expect sales to increase 3% and EPS to increase 45%. But the outlook will be critical as analysts target a decline in profits for the rest of the year. The Fed’s comments this week on its inflation strategy and new home sales data released on Thursday could also influence Toll’s actions this week.
Stock market earnings summary
Tuesday
Macy’s (M) will report early Tuesday morning. Analysts expect sales to decline 4% and EPS to decline 71%. If that happens, it will be the eighth consecutive quarter of declining sales.
Modine Manufacturing is scheduled to report on Tuesday. Analysts expect EPS to increase 14% despite a 2% decline in sales. That would mark the third straight quarter of significantly slower profit growth for HVAC product makers.
Wednesday
synopsis (SNPS) is scheduled to report second-quarter financial results later Wednesday. The electronic design automation and semiconductor technology company is expected to report revenue of $1.52 billion, up 9%, and earnings per share of $3.05, up 20% from a year ago. SNPS stock is on a 12-week horizon with a buy point of 629.38.
Thursday
medtronic (MDT) is scheduled to report fourth-quarter results before the stock market opens on Thursday. Analysts surveyed by FactSet expect the medical device maker to report adjusted earnings of $1.45 a share on revenue of $8.54 billion. Profits are expected to decline by 7.6%. Sales are expected to decline by 1.2%.
working day (WDAY) will report its first quarter results after the stock market closes on Thursday. The enterprise software maker’s EPS is expected to rise 21% to $1.59. Analysts expected sales to rise 17% to $1.974 billion. Workday’s subscription revenue growth has slowed. WDAY stock is down 7% this year.
shoes carnival (SCVL) is targeting a 37.08 buy point on a cup basis ahead of its first quarter results early Thursday. Analysts at FactSet expect earnings to fall 1 cent to 60 cents a share, while sales will rise about 5% to $295 million.
deckers outdoor (DECK) reported late Thursday. Analysts predict that the Hoka shoes maker’s profit will fall by 15% to $2.92 per share. Revenue growth is expected to slow for the second straight quarter, increasing 12% to $887 million. Stock prices are on a cup basis.
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