3 stocks to watch in the coming week: Advanced Micro Devices, Airbnb, Moderna
Investors will brace for another volatile week in the stock market next week on signs that continued bearish sentiment has more room to maneuver, especially when an unfavorable macro environment has started to hurt US businesses.
Rising interest rates, some high-profile earnings disappointments and escalating geopolitical risk weighed heavily on equities in April.
For , the past month was the worst since 2008 as Amazon (NASDAQ:) and (NASDAQ:)—two tech heavyweights—signaled a tough road ahead as supply chain disruptions and rising costs reduce their profitability.
Shares of Amazon fell about 14% on Friday – the stock’s biggest drop since 2006 – after the e-commerce giant suffered a surprise loss and issued a weak second-quarter revenue forecast.
The lost 8.8% in April, its worst month since March 2020, while the fell 4.9% over the month.
Amid this challenging economic backdrop and uncertainty around business growth, we’ve shortlisted three stocks that could see accelerated trade action after releasing quarterly numbers over the coming week:
1. Advanced microdevices
Advanced Micro Devices (NASDAQ:) will release its latest quarterly results on Tuesday, May 3, after market close. Analysts expect the Santa Clara, Calif.-based chipmaker to report earnings of $0.91 per share on sales of $5.01 billion.
After a powerful rally in 2021, AMD stocks have come under intense selling pressure this year. The stock is down about 40% year-to-date, at a time when the benchmark has weakened about 27%. Shares closed at $85.52 on Friday.
The selloff comes despite the chipmaker producing a surprisingly strong performance in February, suggesting it is making further gains in computer processors over rival Intel (NASDAQ:).
The chipmaker’s first-quarter sales outlook showed AMD hitting nearly the same level of profitability as Intel, which would have been inconceivable just a few years ago. First-quarter revenue will be $5 billion, plus or minus $100 million, according to AMD.
Airbnb (NASDAQ:), the stay and travel experience services platform, will also report its first quarter 2022 results on Tuesday after market close. Analysts expect a loss of $0.25 per share for the period on sales of $1.45 billion.
The San Francisco-based company has weathered the pandemic-triggered travel slump much better than its competitors, taking advantage of consumers choosing to travel closer to home and often booking for longer periods or longer stays. frequently in order to take advantage of flexible remote work. Strategies.
Chief Executive Brian Chesky called 2021 “our company’s story” and said Airbnb was able to weather the pandemic thanks to its highly adaptable business model.
As travel restrictions ease globally after the latest spike in COVID infections, it’s likely the company will have a strong outlook for its upcoming summer quarters. Airbnb stock closed Friday at $153.21, down more than 12% for the year.
Moderna (NASDAQ:), the Cambridge, Mass.-based biotech company, will release its first quarter results on Wednesday, May 4, before market open. Analysts expect earnings of $5.74 per share on sales of $4.45 billion.
The company is one of two main suppliers of the COVID-19 vaccine, along with Pfizer (NYSE:). Shares of mRNA rallied during the pandemic, but the stock has fallen 47% this year. It closed Friday at $134.41.
The sharp pullback comes as the Omicron wave of the virus is rapidly fading, making it unclear what the near-term outlook will be for vaccine producers if the pandemic goes into an endemic state after the latest surge.
The messenger RNA vaccine maker said it signed deals worth $19 billion for sales of its vaccine in 2022, up from $18.5 billion. Additionally, the company had “asked U.S. regulators to authorize its COVID-19 vaccine for children under age 6, making it the first coronavirus vaccine available for those under age 5.”