After experiencing some weakness in September, the US stock market faces October with numerous headwinds causing uncertainty – the COVID-19 pandemic continues to smear global supply chains, increasing inflation and forcing back many companies struggle to achieve their production goals.
All of this hurt investor morale in September and kept major indices under pressure. It ended the month down 4.8%, its worst performance for the period since March 2020, when the pandemic caused a market sell off. The broad benchmark also closed 5% below its all-time high for the first time this year.
Le fell 5.3% over the same period, its lowest level since March 2020, while le fell 4.3%, its worst month in 2021 so far.
Beyond these macroeconomic trends, below we highlight three stocks that could see some stock in the coming week, due to company-specific developments:
Tesla (NASDAQ 🙂 shares may see some action when markets open on Monday after the electric vehicle (EV) maker over the weekend delivered more cars than analysts expected for the third trimester.
The company said on Saturday it delivered 241,300 electric vehicles during the period, beating analyst consensus estimates of around 220,900 cars, according to calculations compiled by StreetAccount as of September 30.
The company produced 237,823 cars during the period ending September 30, 2021, Tesla said in its report. Of that number, 228,882 were its Model 3s and Ys, Tesla’s most affordable mid-range offerings.
The stock is up more than 40% from its lowest point this year, based on expectations that Tesla is set to improve its margins as its volume improves. The higher sales figures also show the company is in a better position to overcome supply shortages that are hurting other automakers.
TSLA shares closed at $ 775.22 on Friday, after gaining 14% in the past three months.
Snack and beverage giant PepsiCo (NASDAQ 🙂 will release its third quarter results on Tuesday, October 5, before the market opens. Analysts on average expect earnings of $ 1.73 per share on sales of $ 19.37 billion.
In July, Pepsi recorded its fastest sales growth in at least a decade. The company has also raised its forecast, predicting it will benefit from the return of consumers to restaurants, bars and stadiums after a year of staying at home during the pandemic.
Indeed, COVID-19 has disrupted consumption patterns, with packaged food experiencing a brief increase in demand while consumption outside the home has slowed during temporary shutdowns. Pepsi’s diverse portfolio of snack items, which includes brands such as Tostitos, Fritos, Ruffles and Cheetos, is well positioned to capitalize on these changing eating habits.
After recovering from the March decline, PEP stock has risen more than 6% in the past six months. It closed Friday at $ 150.95.
3. Levi Strauss
Apparel maker Levi Strauss & Co. (NYSE :), will release its third quarter fiscal 2021 results on Wednesday, October 6, after the market closes. Analysts on average expect earnings of $ 0.3736 per share on sales of $ 1.48 billion.
The San Francisco-based clothing maker, best known for its iconic Levi’s branded jeans, told investors in July that buyers were sourcing jeans in new sizes and styles in the United States and China as they did so. that they were leaving their homes as the pandemic appears to be waning.
At that time, the retailer expected fiscal third quarter sales to reach pre-pandemic higher levels. It was something Levi Strauss didn’t expect to achieve until Q4.
As LEVI raised its revenue and profit outlook for the remainder of the year, the company warned that its assumptions were based on the fact that the COVID pandemic is not worsening around the world. The stock closed at $ 25 on Friday after falling about 6% in the past six months.