Today we are watching…
1. Splunk (#splk)
Knowledge is power, and that’s exactly what this big data platform sells. Turning a sea of numbers into actionable insights for 92 of the Fortune 100 companies, profits are a given. It’s up almost 40% this year, and today, will shoot for quarterly earnings of $0.54 on a cool $600 million in revenues. A beat could unlock further gains, so keep a close eye on business confidence. When the global economic outlook is bright, Splunk tends to outperform other stocks. Morgan Stanley even upgraded the company earlier this week on the back of its “robust” profit-making potential, so Splunk may be a good anchor in a tech-heavy portfolio.
2. Macy’s (#macys)
Meet the S&P 500’s worst-performing stock this year, department store Macy’s. Expect a massive market move today if the company can silence its critics with a strong earnings report before the bell. Retailers can’t find the bottom of bad news, so expectations for Macy’s third-quarter results couldn’t be any lower at $0.01 of profit per share on $5.3 billion in revenues! Tariffs are haunting the company, fellow industry heavyweight Kohl’s disappointed analysts on Tuesday, and even the weather has turned against it. But wait, Macy’s do-or-die holiday season is only days away, and its famous Thanksgiving Parade will kick off almost a third of yearly sales! Black Friday beckons, too, so don’t write this one off yet!