Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

3 Stocks To Watch In The Coming Week: Salesforce.com, Kroger, Snowflake

By Investing.com (Haris Anwar/Investing.com)Stock MarketsNov 28, 2021 08:08
uk.investing.com/analysis/3-stocks-to-watch-in-the-coming-week-salesforcecom-kroger-snowflake-200503506
3 Stocks To Watch In The Coming Week: Salesforce.com, Kroger, Snowflake
By Investing.com (Haris Anwar/Investing.com)   |  Nov 28, 2021 08:08
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

US equity markets are likely to remain volatile during the coming week as investors continue to focus on Omicron, the new coronavirus variant which seems to be spreading quickly, forcing many governments to restrict travel from some African countries where it was first detected.

US stocks dropped sharply on Friday as the new COVID variant reminded investors that threats from the deadly pandemic are still alive, even after widespread vaccinations and improvements in therapies. 

The Dow Jones Industrial Average dropped 2.53% on Friday—its worst day of the year. The S&P 500 lost 2.27%, while the NASDAQ Composite closed -2.23%. While it’s too early to predict the economic and policy implications from this new COVID variant, uncertainty over its future path may continue to force investors to seek safety and sell risky assets. 

Aside from the virus-related developments, investors will also be watching some important earnings releases. Here are three we're following:

1. Salesforce.com

Salesforce.com (NYSE:CRM), which sells enterprise software and cloud-based services for customer relationship management to corporate clients, will be reporting its quarterly earnings on Tuesday, Nov. 30, after the market closes. The software provider is forecast to report $6.8 billion in revenue and $0.92 of earnings per share.

CRM Weekly TTM
CRM Weekly TTM

In August, the San-Francisco-based company posted a strong gain in quarterly sales and boosted its forecast for annual revenue, as clients accelerated spending. CRM also broadened its offerings, added after an array of acquisitions, such as data-visualization software maker Tableau, and MuleSoft, which connects applications.

This past summer, Salesforce completed the acquisition of Slack Technologies for $27.7 billion, a deal meant to fuel sales growth of more than 25% a year. Closing at $284.21 on Friday, Salesforce stock is up 27% this year, outperforming the tech-heavy NASDAQ Index.

2. Kroger

Supermarket behemoth, Kroger (NYSE:KR) will report its Q3, 2021 earnings on Thursday, Dec. 2, before the market opens. Analysts are expecting $0.66 a share profit on sales of $31.14 billion.

KR Weekly TTM
KR Weekly TTM

The Cincinnati-based grocery chain continues to benefit from some pandemic-era behaviors that are sticking, including additional consumption of fresh products, such as meat, which are higher-margin categories. But the latest earnings report should also provide some insight into how the grocer is coping with higher inflation, supply disruptions and workers’ shortages.

Kroger's stock has gained 36% this year on the food purveyor's surging sales and its participation in the US vaccination campaign against COVID-19.

The company has delivered millions of vaccinations to people nationwide, creating more repeat customers for its pharmacies and supermarket offerings. Kroger generated record sales of $132.5 billion in the year ended Jan. 30.

3. Snowflake

The cloud-data software maker Snowflake (NYSE:SNOW) will report its fiscal 2022, Q3 earnings on Wednesday, Dec. 1, after the market closes. Analysts expect $305 million in sales and a loss of $0.0567 per share.

SNOW Weekly TTM
SNOW Weekly TTM

At the end of August, Snowflake delivered better-than-expected results and a rosy forecast for the Q3 as it benefited from companies modernizing their corporate applications and networks. Customers are also seeking ways to manage and analyze ever-increasing volumes of information from multiple locations. 

Snowflake is facing less of a threat from rival Amazon's (NASDAQ:AMZN) Web Services product called Redshift, according to a UBS AG report cited by Bloomberg. At its analyst day in June, Snowflake said it was aiming for $10 billion in sales by fiscal 2029. Analysts expect annual sales to top $1 billion in the current fiscal year, 2022. 

SNOW shares closed on Friday at $362.60, after their 30% surge this year.

3 Stocks To Watch In The Coming Week: Salesforce.com, Kroger, Snowflake
 

Related Articles

Edison Group
CentralNic Group: Ending A Strong Year At A Gallop By Edison Group - Jan 17, 2022

Driven by its investment programme, CentralNic Group (LON:CNIC) delivered record like-for-like organic revenue growth throughout FY21 (Q121: 16%; H121: 20%; 9M21: 29%), culminating...

3 Stocks To Watch In The Coming Week: Salesforce.com, Kroger, Snowflake

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email