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August-Quarter Results Are Ramping Up This Week

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We're in for a seasonally weak period in September. Last week, Oracle Corporation (NYSE: ORCL) officially kicked off the first earnings release of the Q3 earnings season. Oracle reported results for its fiscal quarter ending in August. The reporting cycle notably ramps up this week, with 9 such S&P 500 members reporting results for its fiscal quarter that ended in August, including FedEx Corporation (NYSE: FDX), Nike (NYSE: NKE), Costco Wholesale Corporation (NASDAQ: COST), and others.

By the time JPMorgan Chase & Co. (NYSE: JPM) and other big banks start reporting their September-quarter results on October 13th, almost two dozen S&P 500 members will report their August-quarter results.

Monday

The Miami, Florida-based Lennar Corporation (NYSE: LEN) will report after market close. The home construction and real estate company is expected to report earnings per share of $3.27 as it is benefiting effective cost control as it is focused on making its homebuilding platform more efficient, all of which translate to higher operating leverage, which bodes well with the external environment shaped by higher demand for new homes backed by declining mortgage rates and low inventory levels.

Tuesday

AutoZone Inc (NYSE: AZO) is expected to report its fiscal fourth-quarter earnings of $29.71 per share. Although the Memphis, Tennessee-based auto parts retailer is not immune to the tougher macro backdrop that implies fewer miles driven, it is positioned well even for a recession given its leading exposure to the more defensive DIY segment that makes 80% of sales.

FedEx has gotten hit with a ton of negative commentary but its August results remained strong despite delays in shipments. As it approaches its peak shipping season, this multinational delivery services company is expected to report its fiscal first-quarter earnings of $5.00 per share.

Adobe (NASDAQ: ADBE) is slated to report earnings after the closing bell on September 21st. The NASDAQ-component is expected to report a profit of $3.02 per-share as the Silicon Valley blue chip company is seen as no other than the market leader with its end product differentiating from its rivals and allowing holistic sales.

Thursday

Costco Wholesale Corporation is expected to report its fiscal fourth-quarter earnings of $3.56 per share.

The world's largest athletic footwear and apparel seller is expected to report its fiscal first-quarter earnings of $1.12 per share. Nike is troubled by Vietnam factory closures that impact as much as half of its sourcing. There is also the concern of the Beaverton, Oregon-based consumer giant being the next ‘target' of the Chinese government.

The earnings report of Darden Restaurants Inc (NYSE: DRI) earnings report could provide some insight into the effects of the delta Covid variant. Although the restaurant chain has a solid record of topping earnings estimates, the question is can it keep this winning streak going amid the terrifying delta Covid variant.

Dell Technologies Inc (NYSE: DELL) analyst meeting will host an analyst meeting on Thursday, which Cramer expects to be this week's bright spot.

Friday

Ending the week with Fed Chairman Jerome Powell who might have an encouraging story to tell as once Covid runs its course, supply chain issues could go away. Here's to hoping that brighter days are ahead.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com

The post August-Quarter Results Are Ramping Up This Week appeared first on IAM Newswire.

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