Investing Action Plan For Wednesday: Tesla, Fitbit, Priceline, Shale
Here’s your Investing Action plan for Wednesday: What you need to know as an investor for the coming day. Tesla Motors ( TSLA ), Fitbit ( FIT ), Priceline ( PCLN ), Whole Foods Market ( WFM ) and several shale energy companies report earnings on Wednesday. Investors should also pay attention to U.S. oil inventory and production data as well as economic reports on productivity, service sector activity and jobs. Tesla Motors Luxury electric vehicle maker Tesla Motors will report first-quarter financial results after the market closes Wednesday. The consensus estimate on revenue is $1.59 billion, up 45% year over year. The consensus is for a per-share losses of 58 cents, worse than to loss of 36 cents, as polled by Thomson Reuters. Investors will be looking for management comments on Tesla’s delivery targets, as production of the Model X ramps up. Tesla stock hit a seven-month high of 269.34 earlier this month following upbeat Model 3 preorders. But shares have pulled back, falling 3.9% on the stock market today to 232.32, approaching its 50-day and 200-day moving averages. Mobileye ( MBLY ), which provides advanced driver assistance systems for Tesla and several other automakers, reports Thursday morning. Mobileye stock fell 2% Tuesday. Priceline Priceline is expected to report double-digit Q1 sales and earnings growth when it reports before the market open Wednesday. The consensus is for revenue of $2.12 billion, up 15% year over year, and EPS of $9.65, up 19%. A week ago CEO Darren Huston tendered his resignation over an inappropriate-at-work relationship. Priceline stock fell 0.15% to 1354.64. It’s close to a buy point at 1,361.73. Fitbit Fitbit ( FIT ) reports after the close Wednesday. The consensus is for revenue of $443 million , up 32% year over year but the third quarter in a row of deceleration. EPS is pegged at 3 cents, a plunge from a profit of 27 cents a year ago. The maker of wearable fitness devices beat Wall Street’s sales and earnings targets for the holiday quarter, but its guidance for the current quarter fell well short of expectations. Fitbit stock tumbled 6.5% Tuesday to 17.18. Shares have rallied since late February but are still far below their August 2015 peak of 51.90. Whole Foods Market Whole Foods Market is expected to report fiscal Q2 revenue of $3.75 billion, up 3%, and EPS of 41 cents, down 5%. The stock fell 1% Tuesday. Meanwhile, natural foods products grocery rival Sprouts Farmers Market ( SFM ) reports earnings Thursday morning. Sprouts slid 3.4%. Shale Earnings While a few shale companies have already reported, some of the leaders are coming up, as crude prices rebound to the highest levels since November. Results will be grim, but investors will be looking to see if shale producers plan to slash capital spending even further, or announce plans to step up drilling. Continental Resources ( CLR ) on Wednesday is expected to report a per-share loss that widens to 37 cents from a 9-cent-loss a year ago. Revenue is seen falling 24.5% to $440 million, marking a fifth straight decline. Carrizo Oil and Gas ( CRZO ) and Noble Energy ( NBL ) will announce quarterly results before the market opens Wednesday. Oil Inventories The Energy Information Administration at 1:30 p.m. ET will release U.S. petroleum inventories and production levels. Supplies are near record highs, but U.S. crude output has been falling as shale companies slash drilling. Late Tuesday the American Petroleum Institute estimated that weekly crude inventories rose by 1.3 million barrels, while gasoline stockpiles slid 1.2 million barrels. Economic Reports Employment: ADP will release its estimate of private-sector payrolls for April, ahead of the Labor Department’s big employment report on Friday. Economists expect ADP to report a gain of 193,000 jobs. Productivity: The Labor Department releases nonfarm productivity figures for Q1. Economists expect a 1.2% annualized decline after Q4’s 2.2% drop. Trade deficit: The Commerce Department releases U.S. trade figures for March. The trade gap likely shrank to $41.4 billion vs. February’s $47.1 billion. Service sector: ISM releases its nonmanufacturing index for April. Economists expect the service-sector gauge to show a reading of 54.7, little changed from the solid gain of 54.5.