Nike (USD 90.05 ; 2.56% ; NKE ; NKE.N)
On Tuesday, Nike is expected to deliver 2Q EPS of $0.88 compared to $0.76 a year earlier on sales of $4.8bln vs $4.4bln. Earlier, the stock was upgraded to "buy" from "neutral" at UBS and the price target was raised to $95 from $91 at Citigroup (the "buy" rating unchanged). From a technical view, the stock remains well positively oriented, backed by a rising 20D MA, a further bounce is more likely to occur to $93.25 & $95.5 (fibonacci project) in the coming days.
Carnival (USD 42.51 ; -3.32% ; CCL ; CCL.N)
The same day, Carnival, the owner and operator of cruise ships offering cruises to all major vacation destinations worldwide, may release 4Q EPS of $0.3 compared with $0.24 a year ago on sales of appx. $3.4bln vs $3.2bln. Recently, the price target was raised to $55 from $50 at Goldman Sachs (the "buy" rating unchanged). Technically, the stock failed to surpass the key resistance at $45 and now consolidates above its 50D MA. Above $40.5, a new test of $45 should be in sight before any further upsides.
Bed Bath & Beyond (USD 47.72 ; 2.05% ; BBBY ; BBBY.O)
On Wednesday, Bed Bath & Beyond Inc, the US operator of a nationwide chain of retail stores, could announce 3Q EPS of $0.66 compared to $0.58 a year ago on sales of $2.1bln vs nearly $2bln. Last week, the Co's price target was raised to $52 from $49 at JPMorgan (the "neutral" rating unchanged). From a chartist view, the stock accelerated on the upside following the upside breakout of $45.5 (a major horizontal level). A new up leg will probably occur to $50 at first, as long as the key level ($45.5) plays as a support role.
Walgreen (USD 37.58 ; 3.16% ; WAG ; WAG.N)
On the same day in the US, Walgreen is expected to publish 1Q EPS of $0.53 compared to $0.52 a year ago on sales of $17.3bln vs $16.4bln. Earlier, the drugs retailing giant announced it had November sales of $5.83bln, an increase of 8.6% from $5.36bln for the same month in 2009. Duane Reade stores, acquired in April 2010, contributed 2.8 percentage points to the total sales increase for the month. Recently, the Co was upgraded to "buy" from "neutral" at UBS. From a technical view, above $36, the stock should challenge its YTD high at $38 and then to $40 as the next target.
Micron Technology (USD 8.21 ; -0.48% ; MU ; MU.N)
Wednesday, Micron Technology may report 1Q EPS of $0.29 compared to $0.23 a year ago on sales of appx. $2.4bln vs $1.7bln. Recently, the Co introduced a portfolio of high-capacity flash memory products that will lengthen the life of NAND for years to come. From a technical point of view, the stock remains capped by a MT bearish trend line. The risk is a slide below its 20D MA's support, which should open the way towards $7.15.
Selection of those events which may affect the stock prices of international Large Caps