Earnings Season Preview: Spoiler Alert

We're getting excited.

Earnings Season is around the corner, with banks kicking off Q2 releases next week.

At LikeFolio, we pulled an early look at Earnings Scores...we couldn't help ourselves.

Today, we're diving into 2 names at the opposite ends of the consumer momentum spectrum.

While official reports are weeks away, early data is setting up convincingly...

• Estimated Earnings: Early August (2)
• We issued a Bullish Alert in December. Shares traded +30%  higher through mid-February.
• Now, shares have settled below $85, and data suggests another opportunity may be brewing to play it to the upside...again.
• CHGG Purchase Intent: +169% YoY, Unseasonably high 
• Chegg was a natural beneficiary of a shift to digital learning last year, and data suggests students aren't ready to give up their resources.

• Estimated Earnings: Early August (5)
• We issued a Bearish Alert in October when shares were trading above $170, due already palpable consumer demand weakness.
• Since then, shares shed as much as -41% in value. They remain lower, trading below $140.
• Even though Beyond Meat announced meat-free chicken tenders yesterday, it didn't even generate enough buzz to trigger our internal spike detector: Spikey. Some increased volume, but not above our z-score threshold.
• New tenders will debut in 400 restaurants. This is currently unrolling, but no plans for grocery launch yet.
• While we used to tout this as explosive (because it was), mentions of following a plant-based diet are -30% lower vs. last year,
• Looking ahead, we'll be listening for restaurant-specific mentions as consumers resume normal life, and especially for any traction in plant-based chicken.

Moral of the story: we're already getting ready for Earnings Season...it's going to be fun.

LikeFolio members can expect the Week 1 Sunday Sheet on July 18.