HPQ, CRM, GME among top 5 stocks to watch this week

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HPQ, CRM, GME among top 5 stocks to watch this week

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 HPQ, CRM, GME among top 5 stocks to watch this week
Image source: © R0ma4 | Megapixl.com

Highlights:
  • HP Inc. (NYSE: HPQ) to report 2nd quarter earnings for fiscal 2022, on Tuesday, May 31, after market close.
  • Salesforce’s (NYSE: CRM) revenue for the fiscal year 2022 was US$26.49 billion, which was up 25% Y-O-Y.
  • For the fiscal year 2021, GME reported net sales of US$6.011 billion versus US$5.090 billion for the fiscal year 2020.

Amid the global economic turmoil triggered by a slew of macroeconomic factors, rising costs, supply chain disruptions, inflation, and a looming recession in the US, investors are stretched too far in picking a stock. Ranging from tech to social media to retail, several large-cap companies have witnessed drastic and unexpected results this year.

The US stock market has been topsy turvy in 2022. The S&P 500 declined 13.3% through April, the sharpest four-month fall to begin any year since 1939.  

As investors keep a close vigil on earnings every day, here, we look at some of the top stocks that are reporting their respective quarterly earnings this week:

HP (NYSE: HPQ):

HP Inc. (NYSE: HPQ) will report its second-quarter earnings for fiscal 2022, on Tuesday, May 31, after market close. Its net revenue for quarter one was US$17.0 billion, a rise of 8.8% from the year-ago quarter. The company returned US$1.8 billion to the shareholders in the form of dividends and share repurchases in the first quarter.

The technology company that manufactures personal systems, printers, and 3D printing solutions, generated US$1.4 billion of free cash flow in Q1.

HP has a market cap of US$ 41.13 billion, a P/E ratio of 6.97, and a forward one-year P/E ratio of 9.12. Its EPS is US$5.6.

The 52-week highest and lowest stock prices were US$41.47 and US$26.11, respectively. Its trading volume was 14,840,230 on May 27. Its share price was US$39.35 at 12:13 PM ET on May 31, 2022.

Also Read: Oil surges to two-month high as China relaxes Covid lockdowns

HPQ, CRM, GME among top 5 stocks to watch this week© Ginosphotos | Megapixl.com

Also Read: Why Mullen (MULN) stock soared over 35% on Tuesday?

Salesforce (NYSE: CRM):

Salesforce (NYSE: CRM) is set to announce its first-quarter results for fiscal 2023 on Tuesday, May 31, 2022, after the final bell.

The global leader in CRM reported its fourth-quarter revenue for fiscal 2022 of US$7.33 billion, which was up 26% from the same quarter the previous year and 27% in constant currency.

The company’s revenue for the fiscal year 2022 was US$26.49 billion, which was up 25% Y-O-Y and 24% in constant currency.

Salesforce has a market cap of US$161.89 billion, a P/E ratio of 108.59, and a forward one-year P/E ratio of 79.38. Its EPS is US$1.50.

The 52-week highest and lowest stock prices were US$311.75 and US$154.55, respectively. Its trading volume was 7,883,615 on May 27.

GameStop Corporation (NYSE: GME):

GameStop Corp. (NYSE: GME) will report its first-quarter earnings report for fiscal 2022 on Wednesday, June 1, 2022, after the market closes.

GameStop, the American video game, consumer electronics, and gaming merchandise vendor, is also the largest video game retailer in the world.

The Texas, Grapevine-based company reported net sales of US$2.254 billion for the fourth quarter and final quarter of fiscal 2021. Its net sales for the same quarter in 2020 were US$2.194 billion. In the fourth quarter of 2019, net sales were US$2.194 billion.

For the fiscal year 2021, GME achieved net sales of US$6.011 billion versus US$5.090 billion for the fiscal year 2020.

The company has a market cap of US$ 9.61 billion, and a forward one-year P/E ratio of -27.83. Its EPS is US$-5.19.

The 52-week highest and lowest stock prices were US$344.66 and US$77.58, respectively. Its trading volume was US$7,511,269 on May 27.

Lululemon Athletica (Nasdaq: LULU):

Lululemon Athletica Inc. (Nasdaq: LULU) will report its financial results for the first quarter of fiscal 2022 on Thursday, June 2, 2022.

Lululemon Athletica is an athletic apparel company that manufactures transformational products while creating experiences that enable people to live healthy lives.

Lululemon’s Q4 net revenue for fiscal 2021 was US$2.1 billion.  

The company’s diluted earnings per share were US$3.36 versus US$2.52 in the fourth quarter of 2020. Its adjusted diluted earnings per share for the fourth quarter of 2021 remained at US$3.37 compared to US$2.58 in the fourth quarter of the previous year.

During the fourth quarter of 2021, Lululemon Athletica launched 22 net new company-operated stores taking the tally to 574 stores.

Compared to 2020, Lululemon’s net revenue jumped 42% to US$6.3 billion, and the net revenue increased 40% on a constant dollar basis.

The company’s gross profit in 2021 increased 46% to US$3.6 billion, and its gross margin grew 170 basis points to 57.7% compared to 2020.

The firm has a market cap of US$37.82 billion, a P/E ratio of 39.4, and a forward one-year P/E ratio of 31.44. Its EPS is US$7.50.

The 52-week highest and lowest stock prices were US$485.82 and US$251.51, respectively. Its trading volume was 1,852,627 on May 27.

Hormel Foods (NYSE: HRL):

Hormel Foods Corporation (NYSE: HRL) will announce its second-quarter financial results for FY-22 on Thursday, June 2, 2022, before the market opens.

Based in Austin, Minnesota, Hormel Foods Corporation is a global branded food company spanning 80 countries. A few of its brands include Planters, Natural Choice, Black Label, Applegate, Justin's, etc.

The company reported record sales in the first quarter of the current fiscal. It achieved net sales of US$3.0 billion in Q1. Its operating income for the first quarter of fiscal 2022 was US$320 million. The operating margin of 10.5%, was up 10.9% compared to last year.

It reported diluted earnings per share of US$0.44 in the first quarter, which was up 7% compared to the year-ago quarter.

HRL has a market cap of US$26.6 billion, a P/E ratio of 28.87, and a forward one-year P/E ratio of 25.20. Its EPS is US$1.69.

The 52-week highest and lowest stock prices were US$55.11 and US$40.48, respectively. Its trading volume was 1,925,582 on May 27.

Bottom line:

The hard stance of the Federal Reserve to curb inflation is changing the stock market environment. The interest rate hikes by the central bank have influenced stocks in many ways. Wall Street has seen some big stock routs in 2022.

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