About 78% of the S&P 500’s market cap has reported earnings. Several big names will release their reports on Tuesday.
Under Armour (UAA) and Molson Coors (TAP) will kick things off before the opening bell, while Activision Blizzard (ATVI), Groupon (GRPN), TripAdvisor (TRIP) and Twilio (TWLO) report after market close.
Investors will be paying close attention to Under Armour earnings. Wall Street analysts aren’t expecting a surprise from the athleisure brand’s report after the company provided its 2019 forecast at its investor day back in December; however, all eyes will be on how the company is faring against stiff competition. Under Armour shares have jumped 18% so far this year, while Nike rose 12%, Lululemon soared 23% and Adidas was up 8%.
Analysts polled by Bloomberg are expecting it to report earnings of 4 cents per share on $1.38 billion in revenue during the quarter.
Additionally, gaming company Activision Blizzard will be in focus when it reports earnings after the bell on Tuesday. Activision Blizzard’s report comes on the heels of disappointing results from rivals Electronic Arts (EA) and Take-Two Interactive (TTWO). Shares of Activision have been under pressure lately as the company deals with the possible softening of key game franchises such as Overwatch.
So far in 2019, Activision stock has sunk 12%, while Electronic Arts surged 30% and Take-Two fell 8%.
Activision Blizzard is anticipated to report earnings of $1.29 per share on $3.04 billion in revenue.
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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