6 Stocks to Watch This Week

June 27, 2022
Here are some key stats and data points on stocks that LikeFolio is watching this week: 

Nike (NKE)
  • Nike will post earnings for its latest quarter aftermarket Monday, June 27. 
  • The sportswear powerhouse announced its decision to leave Russia last week, although less than 1% of Nike’s total sales come from Russia and Ukraine.
  • Regardless, analysts expect Nike’s Q4 report to be “materially pressured” and with its Purchase Intent Mentions pacing -12% QoQ and -9% YoY, we lean in that direction. 
Bed Bath and Beyond (BBBY)
  • Bed Bath and Beyond will report earnings before market open on Wednesday, June 29. 
  • Renovation trends are faring well, even after their pandemic-fueled jump. 
  • Consumers are indicating they recently renovated or plan to renovate their backyard at +27% YoY, office at +29% YoY, bedroom at +5% YoY, kitchen at +4% YoY, and home at +4% YoY.
General Mills (GIS)
  • General Mills, which recently announced a $3 million investment to scale Eco-Harvest, will report earnings for its latest quarter before the open Wednesday, June 29.
  • We currently have an open bearish alert for General Mills, with the company falling behind its peers. 
  • Purchase Intent Mentions are trending -16% QoQ and -8% YoY, while Overall Mentions are pacing -13% QoQ and -3% YoY
Constellation Brands (STZ)
  • Constellation Brands will release earnings data before the opening bell Thursday, June 30.
  • We wrote recently how “sin stocks” had remained resilient in the face of soaring inflation, but Constellation Brands is an outlier in its lack of outperformance.
  • Overall Mentions are trending at +4% QoQ and -6% YoY.  
  • Even so, earlier this month, analysts at Jefferies were positive on the stock saying import data showed volumes for Mexican beer imports in the U.S. grew +23.8% year-over-year in March and 10.6% year-over-year in April.
Shopify (SHOP)
  • Shopify’s stock price fall has been fairly sharp and more expensive than some of its e-commerce rivals. Inflation, supply chain challenges, and Apple’s privacy changes are just a few things that have impacted brands that use Shopify lately.
  • The company is making a business-to-business push as it aims to restart momentum.
  • And last week, its stock price bounced off recent lows.
  • With Purchase Intent Mentions trending at +12% QoQ and +36% YoY, could we see its share price begin to turn around?
Meta Platforms (META) 
  • Despite a 7% rise Friday, Meta’s shares are still down 50% this year.
  • As we have spoken about previously, Meta has struggled with user retention for its virtual reality Oculus headsets...
  • However, one part of its business, Instagram shopping, is hitting LikeFolio all-time highs, trending +126% QoQ and +141% YoY.
  • Overall, Meta’s Purchase Intent Mentions are trending positively at +13% YoY
  • However, there may be upcoming headwinds for the company with Loop Capital and RBC Capital analysts recently expressing concerns regarding ad spending. 

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