The three major U.S. equity indexes closed lower last Friday. The Dow Jones industrials and the S&P 500 both dropped by 1.07%, and the Nasdaq fell by 1.31%. Ten of 11 sectors ended the day with losses, ranging from 1.9% (communications services) to 0.1% (materials). The single winner, energy, added 1.8%.
Friday’s report on nonfarm payrolls perked up investors until about noon, when a report that Russia would not reopen the Nord Stream 1 gas pipeline as it had promised sent stocks tumbling. All three major indexes traded higher before Tuesday’s opening bell.
U.S. markets were closed Monday, and no earnings reports were released, nor were any due out Tuesday morning. After Tuesday’s close today and before markets open again on Wednesday, Coupa Software, GitLab, Uipath, Academy Sports and Nio will be reporting quarterly results.
Here is a look at what to expect from four companies posting results after markets close Wednesday or before they open on Thursday.
American Eagle Outfitters
Apparel retailer American Eagle Outfitters Inc. (NYSE: AEO) has seen its share price plunge by almost 59% over the past 12 months. Since posting a 52-week high in mid-November, the stock has dropped 60%.
The peak came shortly after the company announced a $350 million all-cash deal to acquire Quiet Logistics. It was American Eagle’s second logistics-related acquisition of 2021 and reflected the company’s move to add to its revenue stream by offering its logistics services to other, smaller firms. The jury is still out on that one, but retail sales are not expected to have improved much in the previous quarter. American Eagle reports after markets close on Wednesday.
Of 11 analysts covering the stock, just three rate the shares at Buy or Strong Buy, while another six rate the stock at Hold. At a recent price of around $11.15 a share, the stock’s upside potential based on a median price target of $13.00 is about 16.6%. At the high price target of $17.00, the implied upside is 52.5%.
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