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There is not much on the earnings calendar this week, but plenty of annual shareholder meetings and investor days will still keep investors busy. Results will come from
Dick’s Sporting Goods
on Tuesday and
Campbell Soup
spirit
CrowdStrike Holdings
on Wednesday. On Thursday,
Oracle
,
Rivian Automotive
,
DocuSign
,
JD.com
,
and Ulta Beauty all report.
Annual meetings include
Analog Devices
,
Qualcomm
,
and Walt
Disney
on Wednesday and
eBay
on Thursday. General Electric hosts an investor day on Thursday and
AT&T
will present on Friday.
The economic data highlight of the week will be Thursday’s release of the consumer price index for February. Forecasters predict another month of rapid price increases in the US economy: The consensus estimate is for a 7.8% year-over-year spike for the headline CPI and 6.3% for the core CPI.
A pair of sentiment surveys are also out this week: The National Federation of Independent Business releases its Small Business Optimism Index for February on Tuesday and the University of Michigan releases its Consumer Sentiment Survey for March on Friday.
Monday 3/7
The Federal Reserve reports consumer credit data for January. Total consumer debt is expected to rise $ 20 billion to a record $ 4.44 trillion. Following a slight decline in 2020, consumer credit increased 5.9% last year.
Tuesday 3/8
Dick’s Sporting Goods and MongoDB release earnings.
The National Federation of Independent Business releases its Small Business Optimism Index for February. Consensus estimate is for a 97.4 reading, roughly even with the January data. The net percentage of small-business owners raising selling prices reached the highest level since 1974 as they try to pass on higher materials costs and compensation to employees.
Wednesday 3/9
Campbell Soup, CrowdStrike Holdings, and
Franco-Nevada
report quarterly results.
Analog Devices,
Johnson Controls International
,
Qualcomm,
TE Connectivity
,
and Walt Disney hold their annual shareholder meetings.
The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Economists forecast 11.1 million job openings on the last business day of January, nearly 200,000 more than in December. If that estimate proves correct, it would match the record level of job openings from this past July and October.
Thursday 3/10
General Electric hosts its 2022 investor day. CEO Larry Culp will discuss
GE
‘s
2022 outlook and plans to turn around the fortunes of the industrial conglomerate. GE’s shares are down 18% in the past year.
DocuSign, JD.com, Oracle,
Rivian
Automotive, and Ulta Beauty hold conference calls to discuss earnings.
EBay and Moody’s hold their annual investor days.
The BLS reports the consumer price index for February. Consensus estimate is for a 7.8% year-over-year spike for the CPI, after a 7.5% increase in January. The core CPI, which excludes volatile food and energy prices, is expected to jump 6.3%, compared with 6% previously. The estimates for both indices would surpass recent peaks and mark 40-year highs. Russia’s invasion of Ukraine has sparked a big jump in many commodities, including wheat and oil, so a relief from higher prices does not seem to be in the cards in the near future.
Friday 3/11
AT&T hosts a virtual investor and analyst day. The company will discuss the financial outlook for its telecom business, which will be the remainder of the company once the pending WarnerMedia spinoff is completed.
The University of Michigan releases its Consumer Sentiment Survey for March. Expectations are for a 64 reading, about one point higher than the February figure.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
