Banking

Cybersecurity Stocks And GameStop Grab Attention

Here’s your Investing Action Plan: what you need to know as an investor for the coming week. It’s a banner week for reports from cybersecurity companies at the forefront of locking down corporate and government computer systems. Also up: widely watched “meme stock” GameStop (GME). Investors will look for signs the mall-based video game retailer is making progress turning around the business to justify its stock’s roughly 1,000% jump this year.




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Stocks To Watch

Facebook (FB) is using its e-commerce Shops to drive growth, but the stock is still above a 377.65 buy point. Likewise, Latin America’s online seller MercadoLibre (MELI) is just above a 1,899.43 buy point. Etsy (ETSY) is still in range from its 211.92 early entry, but 251.96 is the official buy point. Ideally, it would form some sort of handle. Shopify (SHOP) has a 1,650 flat base entry, but 1,562.10 is an early entry. It’s just above recent resistance and still close to the 50-day line. Amazon.com (AMZN) is finding support at its 50-day line. The buy point is 3,733.18, one in a series of bases over the past 12 to 14 months. A rebound over this week’s high would be an early entry. Ideally, Amazon would form a handle here.

Cybersecurity Firms Report

Cybersecurity firm Zscaler (ZS) reports fiscal Q4 earnings after the market close on Thursday. Analysts expect EPS of 9 cents, up from 5 cents a year earlier. Revenue will jump 48% to $186.8 million, analysts estimate. SentinelOne (S) reports earnings for the first time as a public company late Wednesday. The cybersecurity firm launched its IPO on June 30. Analysts expect a 20-cent loss per adjusted share on revenue of $40.5 million.

GameStop Seen Losing More

Late Wednesday, GameStop (GME) reports for the second quarter. Analysts expect the video game retailer to lose 67 cents a share, narrowing from a loss of $1.40 a year ago. Revenue is seen rising 19% to $1.123 billion. Fueled by the so-called meme stocks frenzy on social news platform Reddit, GameStop surged roughly 1,000% in the first eight months of this year. The stock rally helped GameStop retire its massive pile of debt. But whether it can compete in online game streaming, as Amazon (AMZN) builds out Twitch, is being watched.

Lululemon Stretches Growth

Lululemon Athletica (LULU) will report Q2 results after the market closes Wednesday. Analysts see the upscale athletic clothing seller reporting a 60% jump in EPS to $1.18 with sales up 47% to $1.33 billion. Lulu has seen some growth amid the Covid-19 pandemic as fashion switched from professional attire to more comfortable clothing. The company also bought at-home fitness startup Mirror for $500 million last year as consumers switched from working out at a gym or studio to working out at home. Lulu has also expanded successfully into the men’s category and new international markets.

Furniture Sellers Set The Table

Upscale furniture seller RH (RH) will report Q2 results after the market closes on Wednesday and Lovesac (LOVE) will report before the market opens on Thursday. Analysts expect RH’s EPS to climb 32% to $6.48 with sales up 33% to $942 million. Lovesac, the maker of modern beanbags and other furniture, is seen posting a loss of 8 cents per share, flat vs. the year-ago quarter. Revenue is expected to jump 47% to $91 million.

Other Earnings

  • Coupa Software (COUP) reports Q2 earnings late Tuesday. Analysts expect the software maker to swing to a 6-cent per-share loss amid acquisitions vs. a 21-cent per-share profit a year earlier. Revenue is expected to grow 29% to nearly $163 million.
  • National Beverage (FIZZ) reports Q1 earnings on Thursday. FactSet analysts expect EPS to fall 7% year over year to 51 cents on a 2% sales increase to $299.2 million.
  • Oracle (ORCL) is set to report its fiscal first-quarter results on Sept. 1. Analysts are calling for the enterprise software company to earn 97 cents a share in the August-ended quarter. That’s up 4% from the same year-ago period. Revenue is expected to rise 4% to nearly $9.8 billion.
  • Kroger (KR), one of Warren Buffett’s top holdings, is due to report Q2 earnings on Sept. 10. Analysts polled by S&P Global Market Intelligence are calling for the grocer’s profit to slide nearly 14% to 63 cents a share. Revenue is seen inching up less than 1% to $30.7 billion.

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