Investing

Earnings Previews: Bakkt, Coupang, Disney, Rivian

Early trading Tuesday did some recovery work after Monday’s slide. The three major U.S. indexes all recovered at least half of the prior day’s losses, with the energy and tech sectors leading the way (up 3.0% and 2.3%, respectively). The monthly consumer price index (CPI) is due out before markets open on Wednesday. The index is expected to rise by 0.2%, with core CPI, which excludes food and energy, expected to jump by 0.4%. Both estimates are below April’s actual readings.

After markets closed Monday, AMC Entertainment reported better-than-expected revenue and per-share loss. Shares traded up more than 4% in the first hour of trading on Tuesday.

Marijuana grower and products developer Cronos posted a loss that was smaller than expected and also missed the consensus revenue estimate. The posted revenue was double last year’s first-quarter total, and the shares traded up almost 17% Tuesday morning.

China-based electric vehicle maker Li Auto beat the top-line and bottom-line estimates and revised second-quarter guidance sharply. Shares traded up about 6.8%.

Peloton missed both the consensus profit and revenue estimates. The company also plans to run off inventory for the rest of this year, which will be a headwind before it becomes a tailwind next year. Shares traded down more than 12% Tuesday morning.

We already have previewed four companies set to report results after markets close on Tuesday: Coinbase, Kinross Gold, Occidental Petroleum and SoFi Technologies.

Here is a look at four companies set to report results after Wednesday’s closing bell.

Bakkt

Digital asset marketplace Bakkt Holdings Inc. (NYSE: BKKT) came public through a SPAC merger last October and has shed almost 75% of its share price since the IPO. Since its peak in late October, the stock is down nearly 94%. A lawsuit was filed on April 21 alleging that the blank check company behind Bakkt misled investors, and the shares have dropped nearly 40% since. The stock posted a new 52-week low Tuesday morning.

Only one analyst has rated or placed a price target on the stock. That is a Hold rating and target of $7. At the recent price of $2.75 per share, the upside potential based on that price target is about 155%.

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