The Nasdaq notched its first weekly close above 20,000 and the S&P 500 clocked a new weekly closing high. The Dow effectively flatlined and small caps sagged, but the week's performance was strong to boost, on Thursday, IBD's Stock Market Exposure guide to the 80%-100% level. That, in turn, opens the door for investors to jump back into their watchlist stocks and begin building fresh positions.
Atop the coming holiday-shortened week's earnings calendar are names including Walmart (WMT), Alibaba (BABA), Carvana (CVNA) and Booking Holdings (BKNG). But also gaining big attention will be electric vehicle maker Rivian (RIVN), as well as two IBD 50 medical sector names: Globus Medical (GMED) and Guardant Health (GH).
In addition, a group of stocks that were once stock market darlings, the 3D printing names including Stratysys (SSYS) and 3D Systems (DDD), have been hammering out big gains this month, although still trading at relatively low levels. Materialise (MTLS) provides its results to get that ball rolling on Thursday.
Last but not least, homebuilder Toll Brothers (TOLL) reports during February's big week of housing economic data.
↑ X NOW PLAYING Why Now Is A Pivotal Moment For Market Uptrend; Applovin, Howmet, Axon In FocusThe stock market is moving back toward record highs, with a number of leaders flashing buy signals or setting up. Axon Enterprise (AXON), S&P Global (SPGI), Samsara (IOT), Royal Caribbean (RCL) and Broadcom (AVGO) hail from a variety of sectors, reflecting the broad leadership behind the current trend. Axon, S&P Global, Samsara and Royal Caribbean are all recent selections for IBD Stock Of The Day, and it's easy to see why. Axon and Samsara are near buy points. S&P Global and Royal Caribbean are technically in buy ranges with Royal Caribbean rebounding from 21-day support. Broadcom is just below a handle buy point in an awkward-looking base.
The coming week will be focus on housing data, with just one notable nonhousing report. The University of Michigan consumer sentiment index, out Friday, will provide an update on inflation expectations after preliminary data showed long-range inflation expectations ticking to their highest level since 2008. That's part of the data the Fed watches to make sure an inflationary mindset isn't taking hold. On Tuesday, the NAHB Housing Market Index, will show if high mortgage rates have depressed builder optimism. Housing starts and building permits, out Wednesday, show whether builders are acting optimistic. Existing home sales are due Friday morning.
PPI Shows Inflation Is Still Falling, Despite CPI Scare; S&P 500 Rises
Inflation retail winner Walmart reports late Thursday. Analysts expect slowdowns on the top and bottom lines vs. a year ago. But Walmart stock made a record high on Thursday, amid hotter-than-expected inflation data. The Dow Jones Industrial discount retailer is now slightly extended from a flat-base buy point. It has jumped 15% year to date and has surged 69% from a May 2024 flat-base breakout. Analysts are looking for continued business momentum and profitable share gains in Q4 and into 2025. They forecast that Walmart outperformed broader retail in the 2024 holiday season, led by grocery. They are looking for progress on strategic initiatives to ramp up the online business.
Carvana reports late Wednesday and CarGurus (CARG) follows late Thursday. Both have been fast-moving stocks and the reports will offer different insights into the online used car market. Despite a challenging vehicle market, Carvana continues to recover from a tough couple of years. For CarGurus, analysts expect a 48% earnings jump as sales recover 4%.
Earnings Preview: Retail Leaders Walmart, Carvana Next Up On Earnings Calendar
Alibaba reports fiscal Q3 earnings Thursday, with the China e-commerce leader recently breaking out from an 18-week cup base entry. FactSet says analysts expect a 2% earnings gain, with sales up 7%. Alibaba stock has surged 41% this year. Meanwhile, China internet search leader Baidu reports early Tuesday. Chinese gaming company NetEase (NTES) delivers results Thursday. Quarterly results are also expected next week from China online retailer Vipshop Holdings (VIPS).
IBD 50 stocks Globus Medical and Guardant Health are on deck for their fourth-quarter earnings after Thursday's close. Globus Medical, a medical devices maker focused on patients with musculoskeletal disorders, is expected to post a 25% earnings surge as sales climb almost 5%. Analysts project Guardant will narrow its losses by more than half year over year, while sales to rise almost 24%. Guardant makes cancer diagnostic tests. Fellow medical products company Medtronic (MDT) will report its fiscal third-quarter earnings early Tuesday.
Two hot wireless service providers — Telephone and Data Systems (TDS) and United States Cellular (USM) will jointly report Q4 earnings on Friday. TDS is the parent company of United States Cellular, which has agreed to sell wireless radio spectrum to T-Mobile US (TMUS) and Verizon Communications (VZ). USM is expected to report a 2-cent loss, up 40% from a year earlier, with revenue falling 4% to $960 million. TDS is expected to report a 34-cent loss, up 93%, with revenue falling 6% to $1.228 billion. TDS is up 63% from an October breakout. USM is in a tight cup base.
3D printing and additive manufacturing stocks have nixed their recent downspells and rallied to start the year as the technology is increasingly integrated into production lines across various industries, including aerospace and medical fields. Materialise (MTLS) for its Q4 report Thursday is expected to report earnings of 5 cents per share, improving from a loss of 1 cent, on 5% revenue growth. The company on Thursday announced a new aerospace center in the Netherlands. In November, it launched a software development kit to help manufacturers optimize their print requirements and quality. MTLS stock is extended from a November breakout and trading at its highest level since 2023.
3D Systems (DDD) still trades below 5, but is up 30% in February, 43% in 2025 ahead of its Feb. 28 report. At the end of January announced a partnership with Daimler Truck (DTRUY) to handle remote spare part printing for buses, trucks and coaches. Meanwhile, Stratasys (SSYS) on Feb. 4 announced its Tuscon, Arizona facility received certification for medical device manufacturing, which the company expects to expand to its facilities in Texas and Minnesota. The company received a $120 million equity investment from Fortissimo Capital on Feb. 2 and on Feb. 3 lifted its Q4 outlook ahead of forecasts. SYSS stock has gained 29% since the start of February.
Toll Brothers announces fiscal first-quarter 2025 earnings and revenue after the market closes on Tuesday. Analyst consensus pegs EPS falling 9.3% with sales slipping 2%, according to FactSet. The company expects to deliver between 11,200-11,600 homes in fiscal 2025, up from 10,813 in fiscal 2024. TOL shares hit an all-time high of 169.52 in November but have dropped 27% since then, retreating below the 200-day and 50-day lines.
Rivian reports fourth-quarter earnings and revenue late on Thursday. Analysts expect the EV startup to post a loss of 69 cents, down from a $1.36 per share loss a year ago, with sales increasing 6% to $1.39 billion, according to FactSet. However, the positive gross profit per vehicle target is what investors will be looking for. Rivian lost around $39,130 per vehicle in Q3, up from $32,700 per vehicle in the second quarter. Rivian has repeatedly stated gross profit per vehicle as the goal for the year.
Occidental Petroleum announces Q4 earnings late Tuesday. Analysts predict quarterly profit slipping more than 9% with sales declining around 3%. Occidental in recent quarters has cleaned up its balance sheet. At the end of Q3, the Permian Basin oil producer said it repaid $4 billion of debt, about 90% of its short-term debt reduction target. Meanwhile, Warren Buffett purchased more OXY shares on Feb. 7.
Arista Networks (ANET) reports fourth quarter earnings on Tuesday after the market close. Analysts project EPS of 57 cents, up 9%, with revenue growing 24% to $1.903 billion. Arista's 2025 outlook will be key. Analysts expect 2025 upside from data center spending by enterprise and telecom service provider customers. Arista is expected to update revenue upside from artificial intelligence-related products, mainly Ethernet networking.
Garmin (GRMN) reports its fourth-quarter results early Wednesday. Analysts expect the maker of devices for outdoor recreation, fitness and navigation to earn an adjusted $2.02 a share, up 17% year over year, on sales of $1.69 billion, up 14%. Shares are about 5% off record highs.
MercadoLibre (MELI) – often called the Amazon of Latin America – will report fourth quarter results Thursday. Shares are sitting below a consolidation pattern buy point. Wall Street is looking for adjusted earnings of $7.90 per share, according to FactSet, up 143% year-over-year. Sales are projected to rise 37% to $5.8 billion.
Booking Holdings (BKNG) will be looking to match strong Q4 results from Expedia Group (EXPE) and Airbnb (ABNB) when it reports Q4 results Thursday. Analysts expect adjusted earnings to increase 13% to $35.92 per share while sales increase 8% to $5.2 billion. Shares are climbing the right side of a 10-week base.
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