United Airlines, Constellation Brands, Walgreens, and Other Stocks to Watch This Week
The second quarter ends on Wednesday. A few companies are reporting this week, before the next earnings season begins to heat up in earnest. Micron Technology, General Mills, and Constellation Brands all release results on Wednesday, followed by McCormick & Co. and Walgreens Boots Alliance on Thursday. United Airlines Holdings and ConocoPhillips will also host investor days on Tuesday and Wednesday, respectively.
The highlight on this week’s economic calendar will be jobs Friday. The Bureau of Labor Statistics is expected to report a rise of 600,000 nonfarm payrolls in June, slightly more than the gain in May. The unemployment rate is forecast to tick down to 5.6%, from 5.8% last month. Other economic data out this week include the Conference Board’s Consumer Confidence Index for June on Tuesday and the Institute for Supply Management’s Chicago Purchasing Managers’ Index for June on Wednesday.
Monday 6/28
Novo Nordisk holds a conference call hosted by its chief financial officer, Karsten Munk Knudsen, to discuss its research and development outlook. The investor meeting will be held in conjunction with the American Diabetes Association’s 2021 Congress, which runs virtually from June 25 to June 29.
The Federal Reserve Bank of Dallas releases its Texas Manufacturing Outlook Survey for June. Consensus estimate is for a 32.5 reading, slightly lower than May’s 34.9. The index is near a three-year peak of 37.3, reached in April, indicating strength in the region’s manufacturing sector.
Tuesday 6/29
Principal Financial Group and Sempra Energy hold their 2021 investor days.
United Airlines Holdings hosts a conference call to update investors on the company’s growth strategy.
The Conference Board releases its Consumer Confidence Index for June. Expectations are for a 117.8 reading, roughly even with the May data. The index has rebounded strongly this year but remains well below prepandemic levels.
S&P CoreLogic releases its Case-Shiller National Home Price index for April. Economists forecast a 14.2% year-over-year increase, after a 13.2% gain in March, which was the largest jump since December 2005.
Wednesday 6/30
ADP releases its National Employment Report for June. Economists forecast a 450,0000 gain in private-sector employment, after adding 978,000 jobs in May. The May rise was the largest since June of last year.
Constellation Brands, General Mills, and Micron Technology report quarterly results.
ConocoPhillips hosts a market update, featuring the company’s CEO, Ryan Lance.
EQT hosts a conference call to discuss its 2020 ESG performance as well as its ESG strategy going forward.
The Institute for Supply Management releases its Chicago Purchasing Managers’ Index for June. The consensus call is for a 70 reading, lower than May’s 75.2, which was a 47-year high for the index.
The National Association of Realtors reports its Pending Home Sales Index for May. Sales are projected to drop 1% month over month, after falling 4.4% in April. Supply constraints, especially at the lower end of the housing market, have been cited by the NAR for slowing sales.
Thursday 7/1
McCormick and Walgreens Boots Alliance hold conference calls to discuss earnings.
Friday 7/2
The Bureau of Labor Statistics releases the jobs report for June. Expectations are for a rise of 625,000 in nonfarm payrolls, after a 559,000 gain in May. The unemployment rate is seen continuing to edge lower to 5.6% from 5.8%
Write to Nicholas Jasinski at [email protected]
