Earnings Previews: Coupa Software, Fluence Energy, Oracle

The three major U.S. equity indexes closed higher on Thursday. The Dow Jones industrials ended the day up 0.55%, the S&P 500 closed 0.75% higher and the Nasdaq ended 1.13% higher. Nine of 11 sectors closed higher, with technology (1.59%) and consumer cyclicals (1.05%) gaining the most. Communication services (−0.5%) and energy (−0.27%) lagged.

The Bureau of Labor Statistics released its report on the producer price index (PPI) for November Friday morning. Economists expected the index to rise by 0.2%, as it did in October, but it came in hotter at 0.3%. Core PPI also was expected to rise by 0.2% but rose to 0.4%. The November levels were lower year over year, however. The University of Michigan consumer sentiment index is forecast to rise slightly, from 56.8 in November to 57.0 in the December preliminary report.

The three major indexes opened lower on Friday.

After U.S. markets closed Thursday, DocuSign beat the consensus earnings per share (EPS) estimate by nearly 36% and also topped the revenue estimate. The firm issued downside revenue guidance for the fourth quarter on forecast billings of $705 to $715 million and an adjusted operating margin of 20% to 22%. Shares traded up more than 11% Friday morning.

Costco missed consensus estimates on both the top and bottom lines. Revenue rose 8.1% year over year, and same-store sales (excluding gasoline sales) were up 7.1%. Online sales fell 3.7% year over year, and comparable e-commerce sales were down 2%. Shares traded down 1.5% early Friday.

Broadcom beat top-line and bottom-line estimates and raised current quarter guidance. The company also has reinstated its share buyback program, in which about $13 billion remains, and raised its annual dividend by $2.00 to $18.40 (yield of around 3.3%). Shares traded up 2.6%.

Chewy beat both top-line and bottom-line estimates, putting up EPS of $0.01 when analysts were looking for a loss of $0.06 per share. The company issued upside guidance for both the fourth quarter and the full fiscal year. The stock traded down 5.8%.

Lululemon beat estimates on both the top and bottom lines. Same-store sales rose 14%, while e-commerce sales rose 31%. Combined, comparable sales rose 22% year over year. High inventory levels and a weaker-than-expected outlook for the current quarter, however, had shares trading down more than 9% early Friday.

Manchester United missed the consensus EPS estimate by nearly £6.00 while revenue rose by 13.6% year over year. The stock traded up about 2%, likely due to the club’s confirmation that the Glazer family may, in fact, sell the team.

Before markets opened on Friday, Li Auto missed consensus EPS and revenue estimates, and its president resigned effective January 1. The company said it expects to deliver 45,000 to 48,000 vehicles during its fourth fiscal quarter, a year-over-year increase of about 28% to 36%. Shares traded down 8% early Friday.

Here is a preview of three companies set to report quarterly results after U.S. markets close Monday afternoon.

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