Earnings Week Ahead: NXP Semiconductors, Pfizer, Ferrari, Expedia and Moderna in Focus

Market Trading EssentialsOctober 31, 2021

5 minutes read

Monday (November 1)
Tuesday (November 2)
Wednesday (November 3)
Thursday (November 4)
Friday (November 5)

Earnings Calendar For The Week Of November 1

Monday (November 1)

IN THE SPOTLIGHT: NXP SEMICONDUCTORS

The Eindhoven, Netherlands-based semiconductor manufacturer NXP Semiconductors will post earnings of $2.75 per share in the third quarter, which represents year-over-year growth of over 60% from $1.59 per share seen in the same period a year ago.

The leading supplier of high-performance mixed-signal products would post revenue growth of about 26% to around $2.8 billion. It is worth noting that the company has beaten consensus earnings per share estimates in each of the last four quarters.

“NXP Semiconductors (NXP) has attractive exposure to secular growth themes like EVs, increasing penetration of ADAS, connectivity and mobile payments. Furthermore, the company has executed well this cycle and in particular its lean channel inventory positions them well for a snapback as demand improves,” noted Joseph Moore, equity analyst at Morgan Stanley.

“However, we move to the sidelines after a period of strong outperformance in the stock. NXPI’s multiple relative to peers has moved from a material discount to slightly above where it typically trades. Furthermore, we think meaningful EPS revisions are going to be more difficult to come by near term.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 1

Ticker	Company	EPS Forecast
CCC	Computacenter	£81.30
MSGS	Madison Square Garden Sports	-$1.08
RYAAY	Ryanair	$1.06
ON	ON Semiconductor	$0.74
TTM	Tata Motors	-$0.14
L	Loews	$0.63
CNA	CNA Financial	$0.66
TKR	Timken	$1.17
ENBL	Enable Midstream Partners	$0.21
NPSKY	NSK ADR	$0.30
AMG	Affiliated Managers	$3.91
SANM	Sanmina	$0.99
CHT	Chunghwa Telecom	$0.34
BEN	Franklin Resources	$0.86
CXP	Columbia Property	$0.02
ANET	Arista Networks	$2.73
O	Realty Ome	$0.40
PCG	PG&E	$0.26
CLX	Clorox	$1.03
FANG	Diamondback Energy	$2.78
HOLX	Hologic	$1.00
SBAC	SBA Communications	$0.81
WMB	Williams Companies	$0.28
NXPI	NXP Semiconductors	$2.75
SPG	Simon Property Group	$1.06
MOS	Mosaic	$1.54
BRKR	Bruker	$0.44
CAR	Avis Budget	$6.85
CACC	Credit Acceptance	$11.74
NBIX	Neurocrine Biosciences	$0.61
CHGG	Chegg	$0.19
VNO	Vornado Realty	$0.29
OHI	Omega Healthcare Investors	$0.43
BRX	Brixmor Property	$0.09
ADC	Agree Realty	$0.46
NSP	Insperity	$0.86
CRUS	Cirrus Logic	$1.63
OGS	One Gas	$0.38
FN	Fabrinet	$1.33
AWR	American States Water	$0.75
KMT	Kennametal	$0.38
VRNS	Varonis Systems	$0.02
LEG	Leggett & Platt	$0.77
RIG	Transocean	-$0.16
OTTR	Otter Tail	$1.13
RMBS	Rambus	$0.33
BCC	Boise Cascade	$2.09
MCK	McKesson	$4.66
PSA	Public Storage	$2.14
TLK	Telekomunikasi Indns Tbk Prshn Pp Pt	$0.45

Tuesday (November 2)

IN THE SPOTLIGHT: PFIZER, FERRARI

PFIZER: The world’s largest pharmaceutical giant is expected to report a profit of $1.08 in the third quarter, which represents year-over-year growth of about 50% from $0.72 per share seen in the same period a year ago. The pharmaceutical company, which ranked 64th on the 2020 Fortune 500 list of the largest U.S. corporations by total revenue, will report revenue of $22.7 billion, up nearly 90% from the same period a year ago.

Pfizer’s revenue and earnings have both reached new highs due to strong sales of its Coronavirus vaccine. Orders of coronavirus vaccines have continued to flood-in this year, which has led the company to upgrade its guidance multiple times.

According to the company’s latest quarterly update back in July, it expects revenue of $78.0 billion to $80.0 billion with adjusted earnings per share of $3.95 to $4.05. That would be a significant improvement from the $41.9 billion revenue and $2.22 EPS the company generated in 2020.

“We project solid growth prospects, and the company’s COVID vaccine offers significant accretion potential in 2021 and 2022. But we expect COVID vaccine sales and profits to decline significantly in 2023+,” noted Matthew Harrison, equity analyst at Morgan Stanley.

“Pfizer’s dividend is expected to continue to increases at current level despite Viatris’ dividend payment. Lack of clarity in near to mid-term pipeline potential. Pipeline execution and M&A will be key to investor perception, given late-decade patent expiration exposure.”

FERRARI: The luxury sports car maker is expected to report earnings of $1.19 per share in the third quarter, representing a nearly 30% increase from $0.92 per share seen a year earlier. The company, known for its prancing horse logo, would post revenue growth of over 21% to around $1.3 billion.

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 2

Ticker	Company	EPS Forecast
BP	BP	£0.15
STAN	Standard Chartered	£0.22
NRZ	New Residential Investment	$0.35
MYGN	Myriad Genetics	-$0.05
ARNC	Arconic Inc	$0.52
SRCL	Stericycle	$0.60
IEP	Icahn Enterprises	$0.11
MPLX	MPLX	$0.72
TRI	Thomson Reuters USA	$0.38
MPC	Marathon Petroleum	$0.70
ZBRA	Zebra Technologies	$4.06
EIX	Edison International	$1.74
EL	Estée Lauder	$1.70
ETRN	Equitrans Midstream Corp	$0.16
LEA	Lear	$0.61
LDOS	Leidos	$1.62
FMS	Fresenius Medical Care	$0.56
TECH	Bio Techne	$1.72
LPX	Louisiana Pacific	$3.47
EXPD	Expeditors International Of Washington	$1.79
MKL	Markel	$13.64
SABR	Sabre	-$0.55
YAMCY	Yamaha DRC	$0.58
MITSY	Mitsui & Company	$19.66
BP	BP	$0.89
WAT	Waters	$2.36
XYL	Xylem	$0.59
UAA	Under Armour Inc	$0.15
UA	Under Armour C share	$0.15
WEC	Wisconsin Energy	$0.78
SEE	Sealed Air	$0.82
INCY	Incyte Corp	$0.57
INGR	Ingredion	$1.45
PEG	Public Service	$0.92
RL	Ralph Lauren	$2.00
LGIH	LGI Homes	$4.12
ARCB	ArcBest Corp	$2.44
CTLT	Catalent	$0.65
GNRC	Generac	$2.37
OMCL	Omnicell	$0.91
HEP	Holly Energy Partners	$0.46
IART	Integra LifeSciences	$0.72
KKR	KKR & Co LP	$0.93
PFE	Pfizer	$1.08
MMP	Magellan Midstream Partners	$0.97
IDXX	Idexx Laboratories	$1.91
ETN	Eaton	$1.73
APO	Apollo Global Management	$1.09
AME	Ametek	$1.18
DD	DuPont	$1.12
RHP	Ryman Hospitality Properties	-$0.28
EPD	Enterprise Products Partners	$0.51
WLK	Westlake Chemical	$3.96
IPGP	IPG Photonics	$1.28
COP	ConocoPhillips	$1.51
GPN	Global Payments	$2.15
ROK	Rockwell Automation	$2.16
MLM	Martin Marietta Materials	$4.23
IT	Gartner	$1.56
EXLS	ExlService	$1.06
HSIC	Henry Schein	$0.94
BCH	Banco De Chile	$0.44
VRTX	Vertex Pharmaceuticals	$3.08
WES	Western Gas Partners	$0.62
TMUS	T-Mobile Us	$0.49
RARE	Ultragenyx Pharmaceutical	-$1.39
AMGN	Amgen	$4.27
AWK	American Water Works	$1.52
AKAM	Akamai	$1.39
LSCC	Lattice Semiconductor	$0.24
RACE	Ferrari	$1.19
CMI	Cummins	$3.93
DOX	Amdocs	$1.18
PACB	Pacific Biosciences Of California	-$0.22
EC	Ecopetrol	$2,419.00
NNN	National Retail Properties	$0.41
KAI	Kadant	$1.67
EXEL	Exelixis	$0.16
STE	Steris	$1.82
WU	Western Union	$0.58
RDN	Radian	$0.71
CRK	Comstock Resources	$0.35
LSI	LIFE STORAGE	$0.81
EXAS	Exact Sciences	-$0.84
HALO	Halozyme Therapeutics	$0.43
DEI	Douglas Emmett	$0.07
MANT	ManTech International	$0.85
VRSK	Verisk Analytics	$1.37
ENLC	EnLink Midstream	$0.04
GNW	Genworth Financial	$0.28
AIZ	Assurant	$1.37
MCY	Mercury General	$0.80
FNF	Fidelity National Financial	$1.65
IOSP	Innospec	$1.01
HLF	Herbalife	$1.09
LYFT	Lyft Inc	-$0.02
AMCR	Amcor PLC	$0.18
BFAM	Bright Horizons Family Solutions	$0.63
OKE	ONEOK	$0.82
Z	Zillow	$0.15
PAYC	Paycom Software	$0.90
PEAK	Healthpeak Properties Inc	$0.10
LPSN	LivePerson	-$0.15
EGHT	8X8	$0.01
FMC	FMC	$1.32
ATVI	Activision Blizzard	$0.70
DVN	Devon Energy	$0.93
AMED	Amedisys	$1.36
BKH	Black Hills	$0.65
PKI	PerkinElmer	$1.71
MRCY	Mercury Systems	$0.40
VOYA	Voya Financial	$1.61
XPO	XPO Logistics	$0.91
NMIH	NMI	$0.71
CDK	Cdk Global	$0.68
SRC	Spirit Realty Capital New	$0.36
MTCH	Match Group	$0.57
CZR	Caesars Entertainment	$0.16
TX	Ternium	$5.22
FRSH	Papa Murphy’s	-$0.14
MDLZ	Mondelez International	$0.70
PRU	Prudential Financial	$2.76
UNM	Unum	$1.15
CIB	Bancolombia	$0.60
AFG	American Financial	$1.86

Wednesday (November 3)

Ticker	Company	EPS Forecast
EMR	Emerson Electric	$1.18
EVRG	Evergy Inc	$1.74
SBRA	Sabra Health Care Reit	$0.14
OMI	Owens Minor	$0.61
CDW	CDW	$2.06
CRTO	Criteo	$0.35
ATRC	AtriCure	-$0.33
HZNP	Horizon Pharma	$1.54
CVS	CVS Health	$1.79
CLH	Clean Harbors	$1.02
IONS	Ionis Pharmaceuticals	-$0.51
ETR	Entergy	$2.40
MDU	MDU Resources	$0.82
EXC	Exelon	$1.08
MATX	Matson	$5.23
EQIX	Equinix	$1.61
BCRX	BioCryst Pharmaceuticals	-$0.29
BWA	Borgwarner	$0.72
BR	Broadridge Financial Solutions	$0.97
HBM	HudBay Minerals Ord Shs	$0.05
NVO	Novo Nordisk A Fs	$0.78
HUM	Humana	$4.67
CPRI	Capri Holdings Ltd	$0.94
BIP	Brookfield Infrastructure	$0.37
MAR	Marriott International	$0.99
DISCA	Discovery Communications	$0.38
DISCK	Discovery Communications Disck	$0.38
DISCB	Discovery Communications Discb	$0.38
NYT	New York Times	$0.20
CIM	Chimera Investment	$0.37
AVA	Avista	$0.06
SPR	Spirit AeroSystems	-$0.77
JLL	Jones Lang LaSalle	$3.53
BGCP	BGC Partners	$0.15
AAWW	Atlas Air Worldwide	$4.30
SMG	Scotts Miracle-Gro	-$0.87
HFC	HollyFrontier	$0.76
CRL	Charles River Laboratories	$2.58
BDC	Belden	$1.18
CWH	Camping World Holdings	$1.79
VSH	Vishay Intertechnology	$0.65
NI	NiSource	$0.09
LANC	Lancaster Colony	$1.51
LAMR	Lamar Advertising	$1.15
SUN	Sunoco	$1.06
MAC	Macerich	-$0.08
ODP	Office Depot	$1.51
FUN	Cedar Fair	$2.09
NCLH	Norwegian Cruise Line	-$2.04
QGEN	Qiagen	$0.54
CORT	Corcept Therapeutics	$0.22
ES	Eversource Energy	$1.06
PCRX	Pacira	$0.67
UTHR	United Therapeutics	$3.59
SHOO	Steven Madden	$0.77
FOX	Twenty First Century Fox	$1.03
ITUB	Itau Unibanco	$0.12
AGIO	Agios Pharmaceuticals	-$1.57
CVE	Cenovus Energy USA	$0.34
CLR	Continental Resources	$1.21
REGI	Renewable Energy	$1.16
PXD	Pioneer Natural Resources	$3.88
MFC	Manulife Financial USA	$0.64
STN	Stantec USA	$0.55
TTWO	Take Two Interactive Software	$1.35
APA	Apache	$0.91
FNV	Franco Nevada	$0.85
SID	Companhia Siderurgica Nacional	$0.43
KW	Kennedy Wilson	-$0.05
SWN	Southwestern Energy	$0.21
MGM	MGM Resorts International	-$0.06
FLT	Fleetcor Technologies	$3.48
EPR	EPR Properties	$0.28
SJI	South Jersey Industries	-$0.17
FOXA	Twenty-First Century Fox	$1.03
OAS	Oasis Petroleum	$1.75

Thursday (November 4)

IN THE SPOTLIGHT: EXPEDIA, MODERNA

EXPEDIA: The online travel shopping company would post its third-quarter earnings of $1.68 per share, which represents year-over-year growth of over 800% from a loss of -$0.22 per share seen in the same quarter a year ago. The Bellevue, Washington would post revenue growth of about 84% to around $2.8 billion.

“We see a favorable Expedia (EXPE) risk/reward given our expectation for a U-shaped room night decline and recovery as we see online travel room night growth returning to positive growth in ’21,” noted Brian Nowak, equity analyst at Morgan Stanley.

“We are bullish about EXPE’s recent strategic investments to increase its global property supply, invest in VRBO, and improve performance marketing and see these leading to faster long-term room night growth. While these investments are likely the correct long-term strategies for growth, we see higher execution risk, longer payback and more near-term margin pressure.”

MODERNA: The biotech company focused on drug discovery, is expected to report its third-quarter earnings of $9.01 per share, which represents year-over-year growth of over 1,600% from a loss of -$0.53 per share seen in the same period a year ago. The Massachusetts-based biotechnology company’s revenue would post revenue growth of 3,500% to around $6.09 billion.

“We are Equal-weight Moderna. While we believe there is long-term upside for Moderna, we believe the significant valuation increase associated with the success of the COVID-19 vaccine limits the near-term upside,” noted Matthew Harrison, equity analyst at Morgan Stanley.

“The company has taken an industrialized approach to developing mRNA based therapeutics and has rapidly generated a broad pipeline of 21 programs, 11 of which have entered clinical development. We believe Moderna’s mRNA drug development platform is more diversified and scalable compared with competitors, and is validated through broad partnerships with Merck and AstraZeneca. We see vaccines and rare diseases as the key valuation drivers of the company.”

TAKE A LOOK AT OUR EARNINGS CALENDAR FOR THE FULL RELEASES FOR THE NOVEMBER 4

Ticker	Company	EPS Forecast
IBP	Installed Building Products	$1.63
BLDR	Builders Firstsource	$1.63
TM	Toyota Motor	$2.62
PZZA	Papa John’s International	$0.71
TRGP	Targa Resources	$0.47
ZBH	ZIMMER BIOMET HDG.	$1.76
W	Wayfair Inc.	$0.03
MELI	MercadoLibre	$1.25
PWR	Quanta Services	$1.45
PENN	Penn National Gaming	$0.84
NTLA	Intellia Therapeutics Inc	-$0.85
APTV	Aptiv PLC	$0.37
IX	Orix	$2.27
GPRE	Green Plains	-$0.29
MUR	Murphy Oil	$0.14
BGNE	BeiGene	-$4.70
BBD	Banco Bradesco	$0.12
CVCO	Cavco Industries	$2.72
PDCE	PDC Energy	$1.60
ILMN	Illumina	$1.26
EXPE	Expedia	$1.68
CYRX	Cryoport Inc	-$0.15
QDEL	Quidel	$3.52
IOVA	Iovance Biotherapeutics	-$0.53
MNST	Monster Beverage	$0.67
EOG	EOG Resources	$2.02
NFG	National Fuel Gas	$0.69
PFSI	Pennymac Financial Services	$3.43
OXY	Occidental Petroleum	$0.66
PRTA	Prothena	$2.26
MTZ	MasTec	$1.70
GBT	BMTC Group	-$1.11
TDS	Telephone Data Systems	$0.27
BAP	Credicorp USA	$10.73
USM	United States Cellular	$0.48
NKTR	Nektar Therapeutics	-$0.80
SWKS	Skyworks Solutions	$2.55
AL	Air Lease	$0.71
AIG	AIG	$0.91

Friday (November 5)

Ticker	Company	EPS Forecast
MGA	Magna International USA	$0.64
HE	Hawaiian Electric Industries	$0.59
SRE	Sempra Energy	$1.70
PNW	Pinnacle West Capital	$2.81
TRP	Transcanada USA	$0.80
HMC	Honda Motor	$0.56
VTR	Ventas	$0.05