Top 5 earnings to watch next week: BNTX, COIN, DIS, CPNG, RIVN

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Highlights:

  • BNTX returned gains of about ten per cent QTD.
  • Walt Disney Company (NYSE: DIS) revenue jumped 23 per cent YoY in Q2 FY22.
  • Rivian Automotive, Inc. (NASDAQ: RIVN) manufactured 4,401 vehicles in Q2 FY22.

The second quarter earnings season has proved to be a boon for the market in recent weeks. The stocks came under pressure in the year's first half, dragging down the overall market.

However, the second quarter earnings lifted the spirits of the market participants in July, which has reflected in the overall market performance. All the three indices, Dow Jones, S&P 500, and Nasdaq, have marked their best performing month in July since 2020, in the wake of the positive earnings season.

This week, some of the important players in their respective industries like BioNTech SE (NASDAQ: BNTX), Coinbase Global, Inc. (NASDAQ: COIN), Walt Disney Company (NYSE: DIS), Coupang, Inc. (NYSE: CPNG), and Rivian Automotive, Inc. (NASDAQ: RIVN), would report their earnings, which the investors would closely watch.

Let's revise the previous quarter's earnings highlights with Kalkine Media® and stock details of the companies ahead of the scheduled release of their latest financial results.

BioNTech SE (NASDAQ: BNTX)

The BNTX stock gained notable traction in the market, as seen by the surge of about ten per cent quarter-to-date (QTD) in its price. However, it fell nearly 51 per cent on an annual basis while slipping about 35 per cent in 2022.

The biotechnology company has recently been in the news after it announced, along with its vaccine partner Pfizer Inc. (NYSE: PFE), that they have launched a Phase 2 study for evaluating an advanced Covid-19 vaccine that aims at the original strain of the virus as well as the omicron variant. This study intends to provide a stronger and long-lasting immune response against the virus.

In addition, the companies announced on June 29 that they have entered into a new vaccine supply agreement with the US government, under which the government would receive over 100 million doses of its vaccines. The companies said that the doses are expected to be delivered as soon as late summer this year and would continue in the final quarter of the year.

In the first quarter of fiscal 2022, it posted revenue of € 6.37 billion, up from € 2.04 billion in the year-ago quarter. Its net profit was € 3.69 billion, or € 14.24 per diluted share in the first quarter of fiscal 2022, against € 1.12 billion, or € 4.39 per diluted share in Q1 FY21.

During its first-quarter earnings release, the company reiterated its Covid-19 vaccine revenue guidance range of € 13 billion to € 17 billion for fiscal 2022.

Coinbase Global, Inc. (NASDAQ: COIN)

The year hasn't been great in the first half for the cryptocurrencies, while the major cryptos like Bitcoin (BTC), and Ethereum (ETH), fell sharply during the period.

The crypto exchange platform operator fell about 72 per cent year-to-date (YTD) while plummeting about 70 per cent in one year. However, on a QTD basis, it showed gains of about 46 per cent.

The US$ 17.67 billion market cap company has been recently in the news after the law firm of Wohl & Fruchter LLP said that it is investigating whether the crypto exchange company has violated any Federal laws.

Coinbase posted total revenue of US$ 1.16 billion in Q1 FY22, versus US$ 1.8 billion in the same quarter of the previous year. Its net loss was US$ 429.65 million, or US$ 1.98 per diluted share in the first quarter of fiscal 2022, against an income of US$ 771.46 million, or US$ 3.05 per diluted share in Q1 FY21.

COIN touched its 52-week high of US$ 368.90 on November 9, 2021. In contrast, Bitcoin (BTC) reached its all-time high of US$ 68,789.63 on November 10, 2021, according to CoinMarketCap.com.

Walt Disney Company (NYSE: DIS)

The mass media firm holds a market cap of US$ 192.53 billion. On a year-over-year (YoY) basis, DIS stock fell around 39 per cent, while noting a fall of 31 per cent this year. However, in the last 30 days, DIS added 10 per cent.

Walt Disney Company had a relative strength index or RSI of about 63, as per Refinitiv data. RSI range from 50 to 70 indicates a neutral or stable state for the stock.

The Burbank, California-based firm witnessed a YoY increase of 23 per cent in its second-quarter revenue of US$ 19.24 billion. It posted an attributable net income of US$ 470 million, or US$ 0.26 per diluted share in Q2 FY22, down from US$ 901 million, or US$ 0.49 per diluted share in Q2 FY21.

For the first six months ended on April 2, 2022, its revenue rose 29 per cent YoY to US$ 41.06 billion.

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Coupang, Inc. (NYSE: CPNG)

The e-commerce sector got a significant boost during the Covid-19 pandemic, as consumers shifted their focus to online shopping due to restrictions. Despite the trend still advancing at a stable pace, it seemed to have cooled off from its pandemic rally.

The South Korean e-commerce firm marked a 22 per cent YoY increase in its first quarter total net revenue of US$ 5.1 billion. Its net loss improved to US$ 209.29 million in Q1 FY22, from a loss of US$ 295.03 million in Q1 FY21.

In the first quarter of fiscal 2022, its active customers soared 13 per cent to US$ 18.11 million.

The stock of the US$ 32.26 billion market cap firm lost about 37 per cent this year while decreasing nearly 50 per cent YoY. On a QTD basis, it gained around 44 per cent.

Rivian Automotive, Inc. (NASDAQ: RIVN)

Rivian was one of the biggest IPOs in the prior year. The EV maker has also been in the news due to its backing from Amazon.com, Inc. (NASDAQ: AMZN).

On July 21, Amazon said US customers would see custom electric delivery vehicles from Rivian. The companies plan to introduce thousands of custom electric delivery vehicles to hundreds of cities this year.

Rivian said it manufactured 4,401 vehicles in the second quarter of 2022 and delivered 4,467 vehicles. The automotive technology firm is on track to meet its 25,000 annual production outlook as it previously provided, Rivian added.

Bottom line:

The soaring inflation, interest rate hikes by the global central banks, and other uncertainties have raised concerns in the market in recent months. The US Federal Reserve raised the interest rate by 225 basis points in July, with a hike of 75 basis points in the last month for the second straight month.

On the other hand, the US GDP showed that the economy fell by 0.9 per cent annually in the second quarter, following a decline of 1.6 per cent in the starting quarter of 2022.

However, the second quarter earnings suggested that big companies like Microsoft Corporation (NASDAQ: MSFT), Apple Inc. (NASDAQ: AAPL), etc., have avoided the hurdles while posting strong quarterly results.


 


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