Chewy, Walgreens, Lululemon, Micron, BioNTech and other stocks to watch this week

  • By Nicholas Jasinski,
  • Barron's
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A handful of notable companies report results this week, with Tuesday the busiest day on the earnings calendar: BioNTech (BNTX), Chewy (CHWY), Lululemon Athletica (LULU), McCormick (MKC), and PVH (PHVS) all report. Walgreens Boots Alliance (WBA) and Micron Technology (MU) release their results on Wednesday, followed by CarMax (KMX) on Thursday.

The main event on the economic-data calendar this week will be Friday’s March jobs report from the Bureau of Labor Statistics. The consensus forecast is for a gain of 525,000 nonfarm payrolls, following a 379,000 increase in February. The unemployment rate is expected to tick down to 6.0%, from 6.2%.

Other data out this week include the Conference Board’s Consumer Confidence Index for March on Tuesday and the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for March on Thursday. There will also be several housing-market indicators released: The National Association of Realtors’ pending home sales data for February is out on Wednesday, followed by the Census Bureau’s construction spending for February on Thursday.

Monday 3/29

The Federal Reserve Bank of Dallas releases its Texas Manufacturing Outlook Survey for March. The consensus estimate is for a 12.3 reading, below February’s 17.2. The index has had seven consecutive monthly positive readings, which indicate growth in the region’s manufacturing sector.

Tuesday 3/30

BioNTech, Chewy, Lululemon Athletica, McCormick, and PVH report quarterly results.

Otis Worldwide (OTIS) holds a conference call to discuss its ESG initiatives.

S&P Dow Jones Indices releases its S&P CoreLogic Case-Shiller 20-City Home Price Index for January. Economists forecast an 11% year-over-year jump in home prices, higher than the 10.1% rise in December. Three Western cities—Phoenix, Seattle, and San Diego—led the way in December, with gains of 13% or higher.

The Conference Board releases its Consumer Confidence Index for March. Expectations are for a 95 reading, compared with February’s 91.3. The index remains well off its 132.6 figure from February 2020, right before the pandemic hit the U.S.

Wednesday 3/31

ADP releases its National Employment report for March. Economists forecast a gain of 401,500 jobs, after 117,100 were added in February, still a net loss of about 9.5 million private-sector jobs since March 2020.

Micron Technology and Walgreens Boots Alliance release earnings.

Kroger (KR) hosts its 2021 investor conference virtually.

The Institute for Supply Management releases its Chicago Purchasing Manager Index for March. The consensus call is for a 60.5 reading, a point higher than February’s. In January, the PMI hit a 2½-year high.

The National Association of Realtors reports pending home sales for February. Expectations are for a 3% month-over-month decline, after a 2.8% dip in January. Home sales are off their peak, partly due to the lack of inventory to meet the demand.

Thursday 4/1

CarMax reports fiscal fourth-quarter results.

The ISM releases its Manufacturing PMI for March. Economists forecast a 60.5 reading, roughly even with February’s. The index matched its post-financial-crisis peak of 60.8 in February.

The Census Bureau reports on construction spending for February. The consensus estimate is for spending to decline 0.8%, month over month, to a seasonally adjusted annual rate of $1.51 trillion, after a 1.7% rise previously.

Friday 4/2

The Bureau of Labor Statistics releases the jobs report for March. The economy is estimated to have added 525,000 nonfarm payrolls, after a 379,000 gain in February. The unemployment rate is seen edging down, from 6.2% to 6.0%, which would be the lowest figure since before the pandemic.

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