Tyson Foods has recently been struggling as its meat plants were hit by the coronavirus and the company had to take additional safety measures.
The company is set to report its quarterly results today before the market open, and market participants will be eagerly waiting for updates on production guidance for the rest of the year.
Tyson Foods is expected to report revenue of $11 billion and earnings of $1.12 per share. Currently, analysts anticipate no disruption for quarterly earnings growth for the rest of the year so any negative surprise on this front may hurt the stock.
Tyson Foods shares have swiftly rebounded from mid-March lows but failed to continue the rebound and were range-bound in the month of April. In this light, the upcoming earnings report is the catalyst that will likely take the stock out of its current trading range.
PetMed Express is one of the stocks that benefited from the coronavirus pandemic – the company’s shares is up 64% year-to-date.
The reason for this is that PetMed express operates a website-based vet pharmacy which does not have physical stores which is a huge advantage in the current environment.
PetMed Express will provide its quarterly results today, before the market open. Analysts expect that the company will report revenue of $66 million and profit of $0.29 per share.
The stock has recently been in a rally mode, and the key question is whether it can continue to go higher as the economy starts to reopen again. I’d note that the stock has a material short float, so the rally is also fueled by unfortunate short-sellers who got caught in a bad bet.
Shares of shale oil producer Diamondback Energy have been very volatile in recent weeks which is not surprising given the drama that happened in the oil market.
However, the company’s stock has more than doubled from lows seen in mid-March. This upside will get tested by the quarterly earnings report – Diamondback Energy is set to publish its results today after the market close.
Analysts expect that the company will report revenue of $967 million and profit of $1.30 per share. Diamondback Energy has a solid oil price hedging program, so the main focus will be on the company’s production and capital spending guidance for 2020.
This article was originally posted on FX Empire
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