Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

3 Stocks To Watch In The Coming Week: Nike, Adobe Systems, General Mills

By Investing.com (Haris Anwar/Investing.com)Stock MarketsMar 20, 2022 03:32AM ET
www.investing.com/analysis/3-stocks-to-watch-in-the-coming-week-nike-adobe-systems-general-mills-200620394
3 Stocks To Watch In The Coming Week: Nike, Adobe Systems, General Mills
By Investing.com (Haris Anwar/Investing.com)   |  Mar 20, 2022 03:32AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Investors should brace for another volatile week in equity markets as the war between Russia and Ukraine continues and COVID 19 infections rise in Europe and China.

Russia has said it used advanced “Kinzhal” hypersonic missiles for the first time to strike a western Ukraine target, according to media reports. President Volodymyr Zelensky said peace talks are Russia’s “only chance” given the growing number of countries imposing sanctions, and urged Moscow to engage.

During the past week, a powerful rebound in technology and growth stocks helped the market to record its best week of the year after the US Federal Reserve raised its benchmark interest rates for the first time since 2018. The S&P 500 was up about 6.2% for the week, while the NASDAQ 100 Index rose 8.2%, and the Dow gained 5.5%.

As COVID infections surge again in Europe and China, investors will also be getting the latest quarterly reports from some of the largest U.S. companies which could provide additional insight into consumer demand and the impact of supply-chain disruptions.

Below are three mega-cap stocks we'll be focusing on during the upcoming week:

1. Nike

Sportswear giant Nike (NYSE:NKE) will release its third quarter fiscal 2022 earnings on Monday, Mar. 21 after the market close. On average, analysts are expecting the global purveyor of footwear and accessories to make $0.7158 a share profit on sales of $10.63 billion.

NKE Weekly TTM
NKE Weekly TTM

Shares of NKE have suffered this year as the world’s largest sportswear brand struggles to overcome challenges imposed by the Omicron variant on its factories in Asia. Those disruptions hurt sales in China and other Asian markets in the previous quarter.

Nike told investors in December that its factories in Vietnam were back up and running after it had to cancel orders totaling about 130 million units. While demand remains weak in China where the government is still shutting down cities to curb COVID spread, a sales rebound in North America and Europe is helping to offset some losses.

Nike stock, which is down about 21% this year, closed on Friday at $131.24, after rising more than 3% during the session.

2. Adobe Systems

Adobe Systems (NASDAQ:ADBE) will release its first quarter, 2022 earnings on Tuesday, Mar. 22 after the market close. The maker of Photoshop and other software and infrastructure products is expected to report $3.34 a share profit on sales of $4.24 billion.

ADBE Weekly TTM
ADBE Weekly TTM

San Jose, California-based Adobe, which competes with Salesforce.com (NYSE:CRM) in the marketing and e-commerce technology segment, is trying to boost growth by expanding its business offerings while strengthening its core creative software business.

In December, Adobe projected revenue for the first fiscal quarter and full year 2022 that fell short of analysts' estimates, as the company blamed a stronger US dollar against foreign currencies and a longer first quarter in 2021.

Adobe has long dominated the market in digital design software for professionals, but faces greater competition as it offers tools to make it easier for everyday users to create graphics, videos and other online content. Adobe shares have fallen about 20% this year, about double the losses suffered by the NASDAQ 100 Index. The stock closed at $453.33 on Friday.

3. General Mills

The maker of Cheerios cereal, Yoplait yogurt and Nature Valley granola bars, General Mills (NYSE:GIS), will report fiscal 2022 Q3 earnings on Wednesday, Mar. 23, before the market opens. Analysts expect $0.78 a share profit on sales of $4.56 billion.

GIS Weekly TTM
GIS Weekly TTM

In its earnings update last month, the company said acute supply shortages will cause its US shipments to significantly lag Nielsen-measured retail sales performance in Q3. As a result, the company expects Q3 organic net sales to be up 2-3% and constant-currency adjusted operating profit to be down high-single digits to low-double digits versus last year.

GIS said in a Feb. 22 statement:

“The company has taken actions to address these short-term supply constraints and expects to improve customer service levels and deliver strong top- and bottom-line growth in the fourth quarter.”

GIS is also trying to restructure its portfolio in an era when consumers are rapidly changing their eating habits, looking for fresher, greener, and less sugary fare. The stock closed on Friday at $62.41, down about 7% for the year.

3 Stocks To Watch In The Coming Week: Nike, Adobe Systems, General Mills
 

Related Articles

3 Stocks To Watch In The Coming Week: Nike, Adobe Systems, General Mills

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (3)
Rick Pol
Rick Pol Mar 20, 2022 11:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Anyone can report on the past even without a degree in economics, but to forecast economic trends takes a little skill. Seems you have no idea which way these stocks will go this week. I expect that they will all trend higher, what's your expert opinion?
Zeeshan Munawar
Zeeshan Munawar Mar 20, 2022 11:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
they can present reports only while others have to take their own decisions. If he says to you buy and later results become opposite then you will blame him while no one knows the exact movement until quarter report comes out
Meru Pet
Meru Pet Mar 20, 2022 5:02AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
what a wonderful world 🙄
Mohd Izhar Muslim
Mohd Izhar Muslim Mar 20, 2022 4:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Great Once 💯
Freefire Indo
Freefire Indo Mar 20, 2022 4:43AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
💯
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email