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3 Stocks to Watch Next Week: Nike, General Mills, and Micron Technology

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All three companies are reporting quarterly results next week.

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3 Stocks to Watch Next Week: Nike, General Mills, and Micron Technology

  1. 1. June 27 – July 1 3 Stocks to Watch Next Week Nike, General Mills, and Micron Technology 1
  2. 2. 1) Nike • The athletic footwear and apparel company will report its fiscal fourth- quarter results after the market closes on Tuesday. • A revenue miss and cautious guidance from Nike in March sent shares tumbling. 2 Logo
  3. 3. 1) Nike Last Quarter • Nike reported revenue of $8 billion, up 8% year over year and up 14% adjusted for currency. • EPS up 22% year over year to $0.55. • Operating profit increased by just 9%, with a lower tax rate driving net income higher. This Quarter • Nike expects revenue to grow by a mid-single-digit percentage year over year, with currency having a major impact. • Analysts expect EPS of $0.48, down from $0.49 during the prior-year period. 3Source: Nike, Seeking Alpha, and Yahoo Finance
  4. 4. 1) Nike • Nike stock has been volatile over the past year, and is down year- to-date. • Currency continues to be a major headwind for the company. • The company is still posting impressive growth despite its size. • The rising threat of Under Armour should be a major concern for Nike investors. 4
  5. 5. 2) General Mills • The packaged food manufacturer will report its fiscal fourth-quarter results before the market opens on Wednesday. • The stock has soared so far in 2016 despite slumping revenue driven in part by weak cereal sales. 5 Logo
  6. 6. 2) General Mills Last Quarter • Revenue slumped 8% year over year to $4 billion. Down 4% adjusted for currency. • The convenience store and foodservice segment, which includes cereal, suffered a 2% year-over- year sales decline. • Adjusted EPS fell 7% to $0.65. This Quarter • Analysts expect a 10.2% year-over-year revenue decline. • Adjusted EPS of $0.60 expected, down from $0.75 during the prior- year period. • General Mills expects a low single-digit revenue decline adjusted for currency in fiscal 2016. 6Source: General Mills, Seeking Alpha, and Yahoo Finance
  7. 7. 2) General Mills • General Mills stock is up about 15% so far this year despite slumping revenue. • The stock trades at 23 times the average analyst estimate for full-year earnings. • Currency and the divestiture of Green Giant have been negatively affecting sales. 7
  8. 8. 3) Micron Technology • The memory chip manufacturer will report fiscal third-quarter results after the market closes on Thursday. • Weak prices for DRAM and NAND chips plunged Micron into the red last quarter, and it’s unclear exactly how long the downturn will persist. 8 Logo
  9. 9. 3) Micron Technology Last Quarter • Revenue slumped 30% year over year to $2.93 billion. • Net loss of $97 million, compared to gain of $206 million during the prior- year period. • A 10% drop in both DRAM average selling price and sales volume drove much of the decline. This Quarter • Micron expects revenue between $2.9 billion and $3.1 billion, compared to $3.85 billion during the prior-year period. • Non-GAAP loss between $0.05 and $0.12 per share. • DRAM cost reductions should be realized during the third quarter. 9Source: Micron, Seeking Alpha, and Yahoo Finance
  10. 10. 3) Micron Technology • Micron stock is down year-to-date, but it has recovered a bit recently. • Micron’s results are tied to DRAM pricing, which is difficult to predict. • The PC market continues to slump and the smartphone market has slowed down, putting pressure on the entire memory industry. 10
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