Ambarella Reports, Factory Orders: What to Watch on Wall Street June 2
On Tuesday, June 2 TheStreet keeps an eye on six companies that are scheduled to report their quarterly financial results as well as a few economic reports to watch on Wall Street. The notable earnings for the day include restaurant chain Cracker Barrel Old Country Store (CBRL), discount retailer Dollar General (DG), medical device company Medtronic (MDT), chip maker Ambarella (AMBA), G-III Apparel Group Ltd (GIII), and Guess? Inc (GES). Ambarella is scheduled to releases its first quarter earnings results after the closing bell. TheStreet’s Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio says he’s watching the supplier of HD chipsets, Ambarella. Wall Street is looking for a profit of 58 cents a share on revenue of $67 million for its first quarter. Ambarella makes processors for products such as GoPro (GPRO) cameras, and has seen its shares surge more than 80% year to date. Ambarella combines its processor design capabilities with its video and image processing, algorithms and software to provide a technology platform. Its system-on-a-chip designs fully integrated high definition video processing, image processing, audio processing and system functions onto a single chip. On the economic calendar, we note three key data including the Redbook, factory orders, and motor vehicle sales for May. The Redbook is a weekly indicator of consumer spending.
