Top US stocks NIKE, Costco and Accenture

NIKE and Costco report after the closing bell, Accenture and Blackberry beat expectations, Salesforce ups its guidance, Alphabet sues regulators in India, the EU considers approving Pfizer booster jabs, and therefore the White House tries to deal with the shortage in semiconductors.
NIKE
NIKE is scheduled to release half-moon earnings after US markets close today, with investors hoping it can repose on the record set of leads to the half-moon as demand for athleisure wear remains strong, its push online with its direct-to-consumer model progresses, and wholesale income recovers as more physical retailers reopen their stores.

Analysts expect revenue to rise to $12.46 billion from $10.59 billion the year before. Diluted EPS is forecast to extend to $1.12 from $0.95. Notably, NIKE has beaten expectations in seven out of the last eight quarters, and a number of other analysts believe it can beat topline forecasts once more within the half-moon .

The major concern that NIKE will got to alleviate is how it’s dealing with the driving force shortage and provide chain challenges that’s plaguing the broader economy at the present , especially because it heads into the key season . There also are some fears over supplies as cases of the Delta variant rise in China, a key production hub for the business, and amid reports of problems in Vietnam where factories are forced to shut thanks to the spread of the virus.

Costco
Costco is additionally scheduled to release fourth quarter earnings today, with markets anticipating the wholesaler and retailer to possess benefited from buoyant consumer spending, underpinned by stimulus cheques and back-to-school spending.

Still, its monthly sales updates have shown a marked slowdown in growth over recent months and estimates from Bloomberg suggest comparable sales growth will are available at just 8% within the fourth quarter compared to the 21% increase reported within the third quarter because it comes up against tougher comparatives.

Analysts expect fourth quarter revenue to rise 14.8% to $61.29 billion from $53.38 billion the year before, with EPS to extend to $3.58 from $3.13. Investors will want to ascertain how Costco is addressing inflationary and provide chain problems.

Accenture
Accenture beat earnings expectations and posted a buoyant outlook when it released fourth quarter and full year results this morning, driven by growing demand for its cloud and security services and products.

Revenue jumped 24% within the fourth quarter to $13.4 billion and EPS increased 11% to $2.20. The topline was in-line with what Wall Street had expected while earnings came in slightly before the $2.18 forecast. Consulting revenue was up 29% while Outsourcing revenue grew 19%.

The company said it delivered record revenue and bookings over the complete year and revealed it had increased its quarterly dividend by 10% to $0.97 and approved a replacement $3 billion share buyback programme.

Accenture said it’s expecting revenue to grow by 12% to fifteen at local currency within the new fiscal year to the top of August 2022, with EPS of $9.90 to $10.18 versus the $9.16 delivered within the recently-ended year.

Blackberry
Blackberry beat expectations when it released second quarter earnings after the closing bell yesterday because it warned significant supply chain pressures will still weigh down the business over the approaching quarters and announced the departure of its chief operating officer.

Revenue fell to $175 million from $266 million the year before, but was better than the $163.5 million forecast by analysts. Cybersecurity revenue was flat year-on-year at $120 million and IoT revenue rose to $40 million from $31 million, but that wasn’t enough to offset the anticipated fall in licensing revenue because it continues to barter the sale of a part of its patent portfolio. It reported an adjusted loss per share of $0.06, turning from an $0.11 profit last year, but that was also marginally better than the $0.07 loss Wall Street anticipated.

Blackberry warned that significant headwinds, like the chip shortage reducing demand from the automotive sector for its QNX platform, will continue over subsequent two quarters. It also said president and COO Tom Eacobacci will leave at the top of the month and said it’s appointed John Giamatteo because the new boss of its cybersecurity unit.

Salesforce
Salesforce shares are live today after it raised its guidance this morning.

The company said it’s now expecting annual revenue of between $26.25 billion and $26.35 billion within the current fiscal year , up from its previous range of $26.20 billion to $26.30 billion. That was better than the $26.31 billion pencilled in by analysts.

It also provided guidance for subsequent fiscal year to finish in 2023, with revenue to grow further to a variety of $31.65 billion to $31.80 billion, and said it’s targeting an operating margin of three .0% to 3.5% within the 2023 fiscal year and adjusted margin of 20%.Alphabet
Alphabet’s Google is suing the Competition Commission of India for leaking tip from the antitrust investigation being administered into the corporate , intensifying relations between the US tech giant and one among its fastest-growing markets.

Reports in recent weeks have shown the CCI has found evidence that Google has abused its position within the market using its Android mobile OS , prompting Google to demonstrate how Android has led to more competition and innovation instead of less.

However, Google said yesterday that it’s legally challenging the CCI at the Delhi supreme court to ‘prevent any longer unlawful disclosures of confidential findings’ and is ‘protesting against the breach of confidence which impairs Google’s ability to defend itself and harms Google and its partners’.

Pfizer
European regulators are set to form a choice on whether the coronavirus vaccine developed by Pfizer and BioNTech should be wont to provide booster shots because the bloc continues its fight against the virus, consistent with reports from Reuters.

The report, citing an unnamed source, said this may be the primary jab to be considered by the ecu Medicines Agency for booster shots, following within the footsteps of the US which approved a 3rd dose of the jab for older citizens. The EMA is predicted to form a choice ‘for the start of October’, consistent with the source.

The report also said that Moderna was expected to submit data to the EMA this month to undertake and obtain approval for booster shots. Moderna’s CEO Stephane Bancel said yesterday that the pandemic might be over during a year as capacity ramps-up over subsequent six months to make sure there are enough vaccine supplies for everybody round the world.

Semiconductor stocks
A number of representatives from the likes of Intel, Apple, Microsoft, Samsung, General Motors, Ford and Stellantis are meeting virtually with the White House today to debate the way to address the worldwide chip shortage plaguing several major industries, consistent with unnamed sources.

Secretary of Commerce Gina Raimondo is reported to be leading the meeting alongside the director of the National Economic Council Brian Deese. Topics for discussion include how the Delta variant could threaten chip supplies further and the way semiconductor firms can collaborate to enhance the availability shortage.

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