Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

3 Stocks To Watch This Week

By (Haris Anwar/ MarketsSep 28, 2020 19:15
3 Stocks To Watch This Week
By (Haris Anwar/   |  Sep 28, 2020 19:15
Saved. See Saved Items.
This article has already been saved in your Saved Items

After going through a major correction in September, the U.S. equity markets are entering October with a lot of uncertainty as the COVID-19 pandemic still rages on and the U.S. presidential election approaches.

These two factors are likely to keep investors, who don’t see any major catalysts to start buying again after the sharp rebound since the March dip, on the sidelines. The first presidential debate takes place between President Donald Trump and former vice president Joe Biden on Tuesday night.

In September, the tech-heavy index NASDAQ suffered its biggest losses since the beginning of the month. The index is down 7.32% month-to-date, compared to the 4.42% decline in the Dow and a 5.77% decrease in the S&P 500.

Beyond these macro trends, below are three stocks which could see some action after their latest earnings reports:

1. Micron Technologies

Chipmaker Micron Technology (NASDAQ:MU) will report fiscal 2020, fourth-quarter earnings on Tuesday, Sept. 29, after the close. The storage chip manufacturer is estimated to have made $0.98 in profit per share on $5.89 billion in revenue.

The biggest U.S. maker of computer memory chips said in August the outlook for demand is worsening and predicted it’s unlikely to meet its revenue forecast due to the economic recession caused by the COVID-19 pandemic.

Memory chips from Boise, Idaho-based Micron are a key part of all types of computers—from laptops to servers—and also act as data storage in smartphones. The company competes with Samsung Electronics (OTC:SSNLF) in the market for dynamic random access memory and flash memory.

Due to demand uncertainties, Micron stock has underperformed other chip producers this year, falling about 9%. It closed at $49.14 on Friday, after falling about 1% for the day.

Micron Technology Daily
Micron Technology Daily

2. PepsiCo

Snack and beverage giant PepsiCo (NASDAQ:PEP) will report third quarter earnings on Thursday, Oct. 1, before the market opens. Analysts, on average, expect $1.48 a share profit on sales of $17.2 billion.

In the previous earnings report in July, Pepsi had reported stronger-than-expected sales, helped by homebound consumers stocking up on snack foods during the pandemic. Pepsi is well-positioned to benefit from these evolving eating habits as it has a very diversified portfolio of snack items, such as Tostitos, Fritos, Ruffles, and Cheetos.

Ruffles potato chip brand, for example, saw high-single-digit growth in Q2, while oatmeal Quaker’s organic revenue spiked 23% during the spring period. Beverage sales, on the other hand, will likely lag in an environment when consumers are avoiding eating out.

After recovering from the March dip, PEP stock is up more than 11% in the past six months. It closed on Friday at $133.55, after rising 1.5%.

Pepsico Daily
Pepsico Daily

3. Bed Bath & Beyond

The embattled home furnishings and housewares giant, Bed Bath & Beyond (NASDAQ:BBBY) reports its fiscal Q2 earnings on Thursday after the market close. Analysts expect the retailer to produce $0.3 a share loss on sales of $2.63 billion.

BBBY is in the middle of a massive turnaround effort after failing to revamp its business model in order to survive the onslaught of e-commerce giants. The company is actively exploring divestitures in order to focus on growth opportunities in the home, baby, beauty and wellness businesses.

The company said in July nearly all of its stores have reopened after the lockdowns as it moves ahead to save as much as $350 million annually as part of its restructuring plans. The retailer plans to close 200 locations in the next two years.

The company’s earnings will also provide some insight into customer patterns as the U.S. economy reopens and consumers spend more on home improvements. BBBY shares closed on Friday at $14.53 after rising more than 4%. The shares are up about 200% during the past six months.

Bed Bath & Beyond Daily
Bed Bath & Beyond Daily

3 Stocks To Watch This Week

Related Articles

3 Stocks To Watch This Week

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’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
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?
Replace the attached chart with a new chart ?
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'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
Sign up with Email