7 Stock to Watch this Week | May 2022

Joseph Hogue
ā¢May 2nd, 2022
DESCRIPTION
The stocks to watch this week along with all the stock market news you need to know and how to invest. FREE Report! See the Top 7 Stocks in my Portfolio! š¤ https://mystockmarketbasics.com/motleyfool
Earnings season is in full swing and you need to know which stocks to watch and which are reporting profits. Negative surprises have been sending stocks down twenty- and thirty-percent on poor 2022 outlooks for companies.
What to watch in the stock market this week; the big stock news for the week will come on Wednesday with the Fed meeting and higher interest rates. Weāll also see the monthly jobs number of Friday that could shake the market. Just over half the companies in the S&P 500 have reported earnings and almost 80% have beaten expectations. The problem is, many have also been giving negative guidance for the rest of the yearās profits which have sent stocks lower.
Stocks to watch this week;
DraftKings, DKNG, reports earnings Friday after selling off continuously since February last year, now down 78% from its peak. DraftKings stock is one of the few I think could surprise higher on Super Bowl betting.
Shopify, SHOP, reports Thursday and could move double-digits either way. The stock has already fallen 75% from last yearās peak but still trades expensively at 12.7-times price-to-sales. Amazon reported horrible ecommerce numbers last week and it could hit Shopify stock as well.
Booking Holdings, BKNG, reports Thursday along with Marrioit International, MAR, and falls under the same travel-related theme that could see a strong quarter. Travel spending has jumped over the last two quarters and these stocks are beating the market. Expedia Group, EXPE, reports on Monday as well with analysts expecting a 79% jump in sales to $2.23 billion.
Pfizer, PFE, reports earnings on Tuesday and will need to show investors what comes after the boom in sales from the COVID vaccine.
Devon Energy (DVN) reports earnings Monday after strong reports from Chevron and Exxon last week.
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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
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