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As Wall Street embarks on the first full week of May, a diverse group of companies is set to report financial results. Notable names include The Walt Disney Company (NYSE:DIS), Palantir Technologies (NYSE:PLTR), Realty Income (NYSE:O), Shopify (NYSE:SHOP) and Uber Technologies (NYSE:UBER).
The tech sector will see reports from companies like Twilio (TWLO), Unity Software (U) and Arista Networks (ANET), while the real estate sector will be represented by Simon Property Group (SPG), Medical Properties Trust (MPW) and Main Street Capital Corporation (MAIN).
Additionally, energy players like BP p.l.c. (BP), Duke Energy (DUK), Occidental Petroleum (OXY), Energy Transfer LP (ET), Plug Power (PLUG), Suncor Energy (SU) and Enbridge (ENB) will also be reporting.
Other companies on the docket include AMC Entertainment Holdings (AMC), Warner Bros. Discovery (WBD), Rivian Automotive (RIVN), Toyota Motors (TM) and Beyond Meat (BYND).
Below is a rundown of the major quarterly updates anticipated in the week of May 6 to May 10:
Monday, May 6
Palantir Technologies (PLTR)
Palantir Technologies (PLTR) is scheduled to report its Q1 earnings after the closing bell on Monday, with analysts expecting nearly 50% growth in EPS and a 17% increase in revenue for the quarter.
Over the past 12 months, shares of this Denver-based software company have surged by 197%, with a 33% gain so far in 2024. Even so, the stock gets a Hold rating from both Wall Street analysts and Seeking Alpha's Quant Rating system.
Seeking Alpha author PropNotes, who holds an extremely bullish stance on the stock, writes, "As operating margins continue to improve and AI demand drives results, we think organic financial growth could send shares to $50, assuming a stable sales multiple."
Another Seeking Alpha contributor, Oliver Rodzianko, states, "With a strong moat in advanced data analysis, Palantir's valuation reflects its quality, suggesting a better long-term than short-term Buy."
- Consensus EPS Estimates: $0.08
- Consensus Revenue Estimates: $617.52M
- Earnings Insight: The stock has beaten revenue expectations in 7 of the past 8 quarters, missing EPS estimates in 4 of those reports.
Also reporting: Realty Income Corporation (O), Lucid Group (LCID), Simon Property Group (SPG), Vertex Pharmaceuticals Incorporated (VRTX), BioNTech SE (BNTX), The Williams Companies (WMB), Tyson Foods (TSN), Microchip Technology Incorporated (MCHP), BioCryst Pharmaceuticals (BCRX), The Goodyear Tire & Rubber Company (GT) and more.
Tuesday, May 7
The Walt Disney Company (DIS)
Disney (DIS) is scheduled to report its quarterly results on Tuesday, before the bell. The entertainment giant's shares have gained 25% YTD and have earned a Buy recommendation from Wall Street analysts. Meanwhile, Seeking Alpha's Quant Rating system maintains a more conservative Hold stance.
Investing Group Leader Howard Jay Klein suggests, "The Q2 2024 earnings results may result in a small up or down movement in Disney's shares, but investors should focus on the company's hard-edged decisions rather than clichés."
On the other hand, SA author Value Kicker highlights that "Disney's focus on aggressive cost-cutting and streaming profitability may indicate a plateau in Disney+ subscribers and limited growth potential."
- Consensus EPS Estimates: $1.11
- Consensus Revenue Estimates: $22.15B
- Earnings Insight: Disney has topped EPS expectations in 5 of the past 8 quarters, while revenue has beaten estimates in only 3 of those reports.
Also reporting: BP p.l.c. (BP), Twilio (TWLO), Occidental Petroleum Corporation (OXY), Virgin Galactic Holdings (SPCE), CRISPR Therapeutics AG (CRSP), Duke Energy Corporation (DUK), Nikola Corporation (NKLA), Upstart Holdings (UPST), Datadog (DDOG), Rivian Automotive (RIVN), Wynn Resorts, Limited (WYNN), Electronic Arts (EA), Arista Networks (ANET), Luminar Technologies (LAZR), GoPro (GPRO) and more.
Wednesday, May 8
Shopify (SHOP)
Shopify (SHOP) is all set to announce its Q1 performance on Wednesday, before the opening bell. Despite a remarkable 50% surge in its shares over the past year, the Canadian e-commerce leader has experienced an 8% dip since the start of 2024.
Seeking Alpha's Quant Rating system gives the stock a Hold rating, whereas Wall Street analysts are more bullish with a Buy rating.
Earlier this week, Citigroup upgraded Shopify to Buy with a High-Risk qualifier, boosting its price target to $105, an increase of 13%. The bank's analysis of Shopify's Merchant Solutions business supports its long-term growth as its take-rate expansion accelerates in 2025 and beyond.
Seeking Alpha columnist Harrison Schwartz believes that Shopify's integrated platform with social media reach gives it a competitive edge over Amazon, which is shifting towards a "Pay to Play" vendor ad model. Schwartz suggests that if Shopify reduces R&D and marketing expenses while sustaining sales growth, it could achieve an EPS of around $5 by 2030, making its current valuation reasonable. Shopify's combination of high growth and low external risks positions it as a favorable, low-risk option for businesses.
- Consensus EPS Estimates: $0.17
- Consensus Revenue Estimates: $1.85B
- Earnings Insight: Shopify (SHOP) has beaten EPS and revenue estimates in 6 of the past 8 quarters
Also reporting: Airbnb (ABNB), The Trade Desk (TTD), Uber Technologies (UBER), Teva Pharmaceutical (TEVA), Beyond Meat, (BYND), Emerson Electric (EMR), Editas Medicine (EDIT), SolarEdge Technologies (SEDG), Starwood Property Trust (STWD), Affirm Holdings (AFRM), Cassava Sciences (SAVA), Exact Sciences Corporation (EXAS), Sunrun (RUN), ACADIA Pharmaceuticals (ACAD), Hecla Mining Company (HL), HubSpot (HUBS), Toyota Motor Corporation (TM), Dynavax Technologies Corporation (DVAX), GrowGeneration (GRWG), Robinhood Markets (HOOD), ContextLogic (WISH), Invesco Mortgage Capital (IVR), Icahn Enterprises L.P. (IEP), Royal Gold (RGLD) and more.
Thursday, May 9
Plug Power (PLUG)
Plug Power (PLUG) is scheduled to announce its Q1 results on Thursday, before the opening bell. In the previous quarter, the company reported a larger-than-expected loss but stated that it no longer sees substantial doubt in its ability to continue as a going concern as it has sufficient cash on hand, coupled with available liquidity, to fund its ongoing operations for the foreseeable future.
Despite this positive development, the stock has received a Strong Sell rating from Seeking Alpha's Quant Rating system, which highlights lower profitability and negative earnings per share revisions compared to other players in the industrial sector. Elsewhere, Wall Street and Seeking Alpha analysts have a consensus Hold rating.
Stone Fox Capital, a Seeking Alpha investing group leader, suggests that Plug Power is notes that the company has initiated production at its Georgia plant and reopened its Tennessee plant to cut costs. However, the stock may not be appealing at its current price due to the company's aggressive approach to building the hydrogen market with money-losing contracts and minimal cost optimization.
- Consensus EPS Estimates: -$0.433
- Consensus Revenue Estimates: $158.6M
- Earnings Insight: Plug Power has missed EPS estimates in straight 8 quarters, exceeding revenue forecasts in 3 of those quarters
Friday, May 10
Enbridge (ENB)
Enbridge (ENB) is set to report its Q1 earnings results on Friday, before the market opens. The natural gas utility firm has received a Hold rating from Seeking Alpha's Quant Rating System, citing growth concerns. However, Wall Street analysts generally recommend buying the stock.
Investing Group Leader Fluidsdoc notes that Enbridge has underperformed compared to other midstream companies but offers a high dividend yield of 7.5-8.0%. The company's high debt levels are a concern, but the CEO has reassured investors about its credit rating. Near-term catalysts for growth are limited, but medium-term opportunities in the Permian Basin and LNG exports could drive future growth.
Also reporting: DigitalOcean Holdings (DOCN), Oramed Pharmaceuticals (ORMP), Allogene Therapeutics (ALLO), CorMedix (CRMD), Oragenics (OGEN), Applied DNA Sciences (APDN), Regulus Therapeutics (RGLS) and more.