Stocks to Watch This Week: Hoop Dreams, Home Decor
You can never know in advance all the news that will move the market in a given week, but some things you can see coming. From fresh financials from a home furnishings retailer that has been one of the market's hottest stocks over the past five years to a major broadcaster bracing for a spike in viewership as it hosts the biggest game of the college basketball season, here are some of the things that will help shape the week that lies ahead on Wall Street.
Monday -- March Madness Ends in April
It will be a slow day on the financial news front, but Monday night should be special for CBS (CBS). The network is a slam dunk to lead the way in ratings as it broadcasts the NCAA basketball championship game. Sports bars and online sporting websites and social media hubs should also be buzzing, but CBS -- has hosted collegiate basketball's final tournament game for 32 consecutive years -- will be the big winner.
Tuesday -- If You Don't Succeed the First 39 Times
Norm Larsen was a chemist working on a formula to prevent corrosion by displacing water in 1953. After 39 botched attempts, he succeeded on the next try. Water Displacement, 40th formula is the name he used to describe the compound in his lab book, and now we know it as the shortened WD-40.
The multi-purpose lubricant has become a staple in homes, handyman toolboxes and garages. Other products from WD-40 (WDFC) include Lava hand cleaner, X-14 mildew stain remover and 2000 Flushes automatic toilet bowl cleaner. WD-40 reports on Tuesday, shortly after the market close.
Wednesday -- Go with the Flo
As bland as the insurance industry may be, it sure finds a way to incorporate colorful concepts in its marketing campaigns. There's the Geico gecko, the AFLAC duck and Flo from Progressive.
%VIRTUAL-article-sponsoredlinks%Progressive (PGR) reports on Wednesday. It is the fourth-largest insurer in the auto industry, but it is the top dog when it comes to motorcycle insurance. It's also a major player in commercial auto insurance. Analysts see a profit of 40 cents a share when Progressive reports quarterly results on Wednesday. It posted net income of 42 cents a share during the same period a year earlier.
Thursday -- Pier Pressure
Pier 1 Imports (PIR) has been one of the market's biggest winners since bottoming out at 10 cents five years ago. The stock trades for nearly $20 now. Wall Street sees earnings declining by nearly a third to 41 cents a share on a slight sip in sales when it reports on Thursday.
Friday -- It Pays to Be the Banker
Earnings season won't begin in earnest until the following week, but two of banking's biggest names will kick things off by reporting on Friday morning. Wells Fargo (WFC) and JPMorgan Chase (JPM) will step up with fresh financials.
The "too big to fail" banks have been generally improving alongside the economy. They're no longer taking the credit risks that got them in trouble several years ago, but the industry still has a long way to go to win back the confidence of consumers.
The market's holding out for mixed results. Analysts see marginal bottom-line improvement at Wells Fargo, but they also see profitability declining at JPMorgan.
Motley Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool recommends Progressive and Wells Fargo. The Motley Fool owns shares of JPMorgan Chase and Wells Fargo.
