What to Expect in the Week Ahead (OXY, COIN, SHOP and KO Earnings; Inflation and Retail Sales Data)

Moomoo Breakfast US wrote a column · Feb 11 02:02

What to Expect in the Week Ahead (OXY, COIN, SHOP and KO Earnings; Inflation and Retail Sales Data)

In the upcoming week, the first inflation figures for 2024 are set to be released on Tuesday, with key economic data points to watch including retail figures on Thursday and PPI on Friday. Additionally, real estate-related statistics warrant attention, such as the NAHB housing market index and Building Permits.

Moreover, earnings season marches on, with high-profile companies on the docket comprising $Occidental Petroleum(OXY.US)$, $Coinbase(COIN.US)$, $Coca-Cola(KO.US)$, $Shopify(SHOP.US)$, and more.

$Occidental Petroleum(OXY.US)$ is predicted to report a decline in earnings YoY in Q4 of 2023, as a result of lower revenues. Analysts expect the company to announce earnings of $0.82 per share in their upcoming financial report, which is a -49.1% decrease compared to the same period in the previous year. Between February 1 and February 5, Warren Buffett purchased over 4.3 million shares of OXY for approximately $245.7 million, with the share price ranging from 56.75 to 57.98.

$Coinbase(COIN.US)$ is expected to report a higher revenue and earnings YoY in their upcoming Q4 report for December 2023, according toWall Street analysts. The company is expected to generate $731.94 million in revenue, indicating a growth rate of 16.4% compared to the same period last year. Additionally, the report is projected to show a quarterly loss of $0.06 per share, which represents a significant YoY increase of +97.6%.

$Shopify(SHOP.US)$ will report quarterly earnings of $0.31 per share in its upcoming release, according to Wall Street analysts' prediction, indicating a year-over-year increase of 342.9%. The company's revenues are forecasted to reach $2.07 billion, showing a growth of 19.2% compared to the same quarter last year. Additionally, the consensus EPS estimate for the quarter has undergone an upward revision of 1.2% in the past 30 days, bringing it to its present level.

$Coca-Cola(KO.US)$, the largest beverage manufacturer in the world, is predicted to show quarterly earnings of $0.48 per share in the upcoming report, indicating a YoY increase of 6.7%. Additionally, revenues are anticipated to be $10.63 billion, reflecting a growth rate of 5% compared to the same quarter in the previous year.

Inflation Data in Focus

Next week, Wall Street anticipates fresh inflation figures of 2024, and investors are hoping it will bolster evidence of the trend toward lower inflation rates. This sentiment was evident last Friday when equities advanced following a revision that showed December's inflation figures were even lower than initially reported.

The consumer price index (CPI) for January is slated for release on Tuesday. Investors are predicting a modest 0.2% increase for the month, and a 2.9% rise from the same month a year ago, according to a Dow Jones consensus estimate.

Meanwhile, core CPI, which excludes volatile food and energy prices, is expected to exhibit a 0.3% increase compared to the previous month, maintaining a comparable growth rate.

U.S. Retail Sales

January retail sales may have been dragged down by disappointing auto sales. Consumption would appear be off to a slow start after retail sales rose by an average of 0.2% in Q4 23 after a blistering 0.7% average gain in Q3 23. The median forecast is for a 0.2% decline in headline retail sales (+0.6% in December).

Retail sales excluding autos for January are expected to be 0.3% on a month-over-month basis, which is a slight decrease compared to the growth rate of 0.4% in the previous month.

Sectors Performance