Deere & Co. Earnings Preview: Fiscal Q3 Results Come Out On Friday
Agricultural equipment maker Deere & Co.DE reports earnings for the fiscal third quarter of 2017 before market open on Friday, August 18. So far in 2017, DE has continued to build on its 2016 rally and shares are up 21.7 percent year-to-date as the outlook in certain agricultural markets has improved.
Shares jumped in May when the company reported better-than-expected results for the second quarter and management raised its outlook for fiscal 2017. With the updated guidance, the company is now expecting net sales in equipment operations to increase approximately 9% year-over-year in fiscal 2017 when it had previously forecasted approximately 4% growth. At the same time, it also raised its guidance for net income attributable to Deere & Co. for fiscal 2017 from $1.5 billion to $2 billion.
Foot Locker: Bad News is Good News?
Foot Locker reports earnings this morning. Is all the bad news already priced into the stock? FootLocker (FL) is scheduled to report earnings tomorrow morning, and if its 30%-plus drop during the past three months says anything, it’s not to expect much. But that doesn’t mean Foot Locker’s stock can’t go up.
In fact, it might mean just the opposite. Foot Locker has been hammered as other sporting goods retailers have released disappointing earnings, and Nike (NKE) announced that it would start selling its shoes via Amazon.com (AMZN). And those concerns are real. They just might already be reflected in Foot Locker’s shares. Barclays analyst Matthew McClintock and team explain:
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On the Tape Today | 8-18-17
UAL-United Continental showed bearish order flow before the horrific events in Barcelona. The sector will be under further pressure. Today we are game planning a new short sale using a $64.25 sell stop. My profit target to cover comes in at $56.50. Stop loss is on a close above $66.
Stock Market Sector Performance
Stocks to Trade | 8-18-17 Friday Edition
Bullish Momentum: TSCO
Bearish Momentum: jd, dal, aal, nue, lvlt, luv, lly, rspp, cf, ual, stx, csx, dfs, celg, txn, rh, psx, mar, lvs, teva, nvda, akam, ctrp, apa
Bullish Order Flow: KORS, WB, TTWO, VNTV, VFC, BBY, BABA, CCI, AAPL, V, MCD, MA
Bearish Order Flow: slca, hp, dks, myl, apa, stx, viab, mnk, lb, cah, hes, luv, ual, aal, dal, bti, eog, lvlt, apc, slb,
Double Normal Volume: BABA, JD, LB, ADP, URBN, CTRP, LLY, DKS, AAP
Inside Days: myl, utx, nem, cci, dhr, bhp, bby, fnsr
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