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3 Stocks To Watch In The Coming Week: Nike, FedEx, Tesla

By Investing.com (Haris Anwar/Investing.com)Stock MarketsMar 14, 2021 03:53AM ET
www.investing.com/analysis/3-stocks-to-watch-in-the-coming-week-nike-fedex-tesla-200567062
3 Stocks To Watch In The Coming Week: Nike, FedEx, Tesla
By Investing.com (Haris Anwar/Investing.com)   |  Mar 14, 2021 03:53AM ET
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Bond market action is once again taking center stage as investors become more nervous about betting on growth stocks if yields should continue to rise in the week ahead.

Yields rose again on Friday after U.S. President Joseph Biden said all adults would be eligible for a vaccine by May 1, taking the U.S. economy closer to full reopening. The 10-year Treasury yield touched a high of 1.642%—its highest level in more than a year before settling just a bit lower.

That move also helped the Dow Jones Industrial Average to post a 4% gain for the week. The 30-component mega cap index finished Friday at a record 32,778 as investors favored value and cyclicals over growth stocks whose stretched valuations have become a reason for concern as interest rates edge higher.

The NASDAQ, home to big tech shares, also rose 3% in the past week, but it is down 5.5% over the last month. As these volatile market conditions prevail, here are three mega cap stocks which we're following closely—two of which will announce their latest earnings in the days ahead:

1. Nike

Nike (NYSE:NKE) will release its fiscal 2021 third quarter earnings on Thursday, Mar. 18, after the market close. On average, analysts are expecting the sportswear giant to report $0.758 a share profit on sales of $11.03 billion.

NKE Weekly TTM
NKE Weekly TTM

After a strong rally following the COVID-19 plunge last year, Nike shares haven't moved much this year. Investors are waiting for further signs of a recovery in the company's sales as economies reopen in the company’s two major markets—the U.S. and China.

If Nike is able to report a strong recovery in sales, the stock might break out its current trading range and reach new highs. Nike closed on Friday at $140.45, a little below its record high of $147.95, hit this year.

Nike’s strong brand, along with its digital strategy, have positioned the athletic footwear maker of Air Jordan sneakers, among other sports apparel, for long-term growth. The Beaverton, Oregon-based company returned to profit in its fiscal first quarter, and posted much better results than analysts had predicted, despite widespread global lockdowns and the cancellation of sporting events.

2. FedEx

The world’s largest parcel delivery service, FedEx (NYSE:FDX), is another mega cap company that will report its fiscal 2021, third quarter earnings after the market closes on Thursday. On average, analysts are expecting earnings per share of $3.35 on sales of $19.93 billion.

FDX Weekly TTM
FDX Weekly TTM

FedEx’s earnings, which come almost a month earlier than the majority of U.S. companies, are closely watched. The delivery business is considered a proxy for the health of the global economy. The latest releases from the Memphis, Tennessee-based company show that its business is booming as it caters to accelerating, pandemic-fueled demand.

But the stock has lost its momentum since hitting a record high in December, after the company said costs to ship packages to consumers are rising, crimping margins at its flagship ground unit. FedEx shares have gained about 4% this year, closing at $270.29 on Friday after surging to $305.66 in December 2020.

Investors turned bullish on courier companies during the pandemic which forced consumers to do more shopping online. However, any sign that e-commerce deliveries are further eroding profitability, could hurt their shares.

3. Tesla

Tesla (NASDAQ:TSLA) stock may see some activity on Monday after the electric carmaker said over the weekend that it plans to make adjustments to the manufacturing processes in its Chinese factory to boost production capacity in the world’s biggest car market.

TSLA Weekly TTM
TSLA Weekly TTM

The changes focus on spare-part production in Tesla’s Shanghai facility, including plans to improve the power system, chassis and electric motor, the company said in a statement on a Shanghai government website. According to Bloomberg the statement said:

“The project aims to meet demand growth after the production capacity expansion in the factory, and it starts with improvements to the manufacturing process.”

China is the second-largest market for Tesla and a key factor in its expansion plans. Retail sales of passenger cars in China last month more than quadrupled to 1.18 million vehicles compared with the year before. Tesla shares closed on Friday at $693.73, after gaining 23% during the week.

3 Stocks To Watch In The Coming Week: Nike, FedEx, Tesla
 

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3 Stocks To Watch In The Coming Week: Nike, FedEx, Tesla

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Comments (9)
John Tenaglia
John Tenaglia Mar 17, 2021 12:41AM ET
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Well that didnt work out for tsla
Gina Brown
Gina Brown Mar 15, 2021 2:32AM ET
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Monday is tesla day to push. 2 WEEKS I see 850. end of 2021, 1300. 0r more. I only hold 201 shares but could make a little. bought in real 620.00
Fabrizio Fusaro
Fabrizio Fusaro Mar 15, 2021 2:32AM ET
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Why?
Scott Faries
Scott Faries Mar 14, 2021 5:14PM ET
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IMO Tsla could reach $800 this week
Werner Trejo
Werner Trejo Mar 14, 2021 5:14PM ET
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well I hope so, have invested $20,000 there #TSLA
Hiral Patel
Hiral Patel Mar 14, 2021 3:41PM ET
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interest rates are unchanged, what are you talk about.
Aashiq Patel
Aashiq Patel Mar 14, 2021 3:41PM ET
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J pow has a press confrence on wednesday
Gene Kret
Gene Kret Mar 14, 2021 1:48PM ET
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Buy TSLA now...$900 by 31 March.
Juhwan Kim
Juhwan Kim Mar 14, 2021 1:20PM ET
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Snp500 all time high, dow all time high, there is no reason nasdaq will be beaten if economy is recovered. Just buy and hold.
Sanjay Amdavadi
Sanjay Amdavadi Mar 14, 2021 1:11PM ET
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Nasdaq & Dow Jones not running parallel hope in future it will go parallel
Nancy Kagwiria
Nancy Kagwiria Mar 14, 2021 1:11PM ET
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sure
Kushagra Mittal
Kushagra Mittal Mar 14, 2021 1:04PM ET
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Tesla is not coming to 850 price target
Robert Thomas
Robert Thomas Mar 14, 2021 1:04PM ET
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Team TESLA! Woohoooo!
fernando pimentel
fernando pimentel Mar 14, 2021 1:04PM ET
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itsit's not goingnot cominglearn English first before u write something that is actually worth reading
sa ka
sa ka Mar 14, 2021 1:04PM ET
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$2000 in 12 months
thabang mahlare
thabang mahlare Mar 14, 2021 6:00AM ET
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nasdaq it's strong buy?
Angel Silva
Angel Silva Mar 14, 2021 6:00AM ET
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I wouldn’t be sure about that.
denis tm
denis tm Mar 14, 2021 6:00AM ET
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last week increase every day. not usual.
 
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