In early trading Monday, the Dow Jones industrials were up 0.23%, the S&P 500 up 0.28% and the Nasdaq up 0.43%.
Before U.S. markets opened on Monday, Lordstown Motors reported that it sold three vehicles at a cost of sales totaling $30 million. Of those costs, $21 million reflects an inventory writedown. The company reported revenue of $194,000 for the fourth quarter and the full fiscal year and a GAAP loss per share of $0.45. The stock traded down about 4.5% in early trading.
After markets close on Monday, Trip.com will report quarterly results, and Dick’s Sporting Goods and Sea Limited are on deck to post results before markets open on Tuesday.
Here is a look at what to expect from these three companies reporting quarterly results late Tuesday or early Wednesday.
Campbell Soup
Over the past 12 months, shares of Campbell Soup Co. (NYSE: CPB) have risen by about 15%, while the consumer staples sector has slipped by about 3.6% over the same period. For the year to date, however, Campbell Soup has dropped by about 7.7%, significantly more than the staples sector’s decline of around 2.6%. Campbell Soup reports quarterly results before markets open on Wednesday.
The company raised its prices in the October quarter in a move to keep its profits going in the face of rising costs. That move paid off in profit, but in the January quarter, revenue is likely to have fallen due to more competition from store brands.
Analysts are less than bullish on the shares. Of 20 brokerages covering the company, 13 have a Hold rating, while six have rated the stock at Sell or Strong Sell. At a recent share price of around $52.40, the stock trades close to its median price target of $53.00. At the high price target of $61.00, the upside potential is about 16.4%.
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