Nvidia, Walmart, Target, and Other Stocks for Investors to Watch This Week - Barron's

Several bricks-and-mortar retailers will release earnings this week, as we come to the tail end of first-quarter earnings season. Walmart, Home Depot, and Kohl’s report on Tuesday, followed by Lowe’s, Target, and L Brands on Wednesday. Best Buy, TJX, and Ross Stores report on Thursday. Major non-retail names releasing earnings this week include Expedia Group on Wednesday, Nvidia and Hewlett-Packard Enterprise on Thursday, and Alibaba and Deere on Friday.

Investors will also be watching news from the World Health Organization’s World Health Assembly beginning on Monday. Health ministers from around the world will discuss the Covid-19 pandemic and the global response at the virtual meeting.

Economic data out this week includes the Conference Board’s Leading Economic Index for April, IHS Markit’s Composite Purchasing Managers’ Index for May, and the National Association of Realtors’ existing-home sales for April—all on Thursday. On Wednesday, the Federal Open Market Committee releases minutes from its last meeting in late April.

Monday 5/18

The World Health Organization holds its 73rd World Health Assembly. The 194 member states of the WHO will discuss the Covid-19 pandemic response during the two-day meeting.

Baidu reports first-quarter results.

The National Association of Home Builders releases its NAHB/ Wells Fargo Housing Market Index for May. Consensus estimates are for a 34.5 reading, up from April’s 30 figure. The April reading was the first below 50 since 2014, and the lowest since 2012, when the industry was recovering from the housing crash.

Tuesday 5/19

Advance Auto Parts ,Home Depot, and Walmart report earnings.

Amgen , Chipotle Mexican Grill , Halliburton , and JPMorgan Chase hold their annual meetings of shareholders.

The Census Bureau reports new residential construction data for April. Economists forecast a seasonally adjusted annual rate of 919,000 housing starts, a precipitous decline from March’s 1.2 million. New building permits are expected to decline 25%, to a seasonally adjusted annual rate of 1 million. Housing starts were last below 925,000 in early 2015.

Wednesday 5/20

Analog Devices ,Expedia Group,Lowe’s, McKesson , Synopsys , Take-Two Interactive Software , and Target report quarterly results.

Molson Coors Beverage , Northrop Grumman , United Airlines Holdings , and Zoetis hold their annual shareholder meetings.

The Federal Open Market Committee releases the minutes from its monetary policy meeting in late April.

Thursday 5/21

Agilent Technologies ,Best Buy,Hewlett Packard Enterprise, Hormel Foods , Intuit , Medtronic ,Nvidia,Ross Stores, and TJX Cos. hold conference calls to discuss earnings.

Harley-Davidson , McDonald’s , Morgan Stanley , and Southwest Airlines hold their annual meetings of shareholders.

The Conference Board releases its Leading Economic Index for April. Expectations are for a 5.7% decline, to a 98 reading. March’s 6.7% drop was the steepest on record in the index’s 60-year history.

IHS Markit releases its Composite Purchasing Managers’ Index for May. Consensus estimates are for a 34.3 reading, rebounding from April’s 27 figure. Both numbers are well below the expansionary level of 50.

The National Association of Realtors reports existing-home sales for April. Economists forecast sales plummeting 18.4% to a seasonally adjusted annual rate of 4.3 million. This follows on the heels of an 8.5% drop in March.