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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