4 Stocks to Watch on Thursday: DRI, FDX and More
1. DRI (Darden Restaurants)
Earnings Preview
Darden Restaurants (DRI) is expected to report earnings of $1.90 per share, down from $2.08 per share in the same period last year. Revenue is projected to be $2.57 billion, up from $2.47 billion in the previous year's quarter.
The company has been facing headwinds from rising food and labor costs, as well as a slowdown in consumer spending. However, analysts believe that DRI may be able to offset these challenges with its strong brand portfolio and its focus on value-oriented offerings.
Technical Analysis
DRI's stock has been in a downtrend since reaching a high of $158.60 in January 2023. The stock is currently trading at $131.25, and it could fall further if it fails to hold above the $130 level.
2. FDX (FedEx)
Earnings Preview
FedEx (FDX) is expected to report earnings of $3.38 per share, up from $3.24 per share in the same period last year. Revenue is projected to be $23.55 billion, up from $22.56 billion in the previous year's quarter.
The company has been benefiting from the growth of e-commerce, as well as its focus on cost-cutting initiatives. However, analysts are concerned about the impact of the global economic slowdown on FedEx's business.
Technical Analysis
FDX's stock has been in a choppy trading range since reaching a high of $290.36 in November 2022. The stock is currently trading at $267.25, and it could face resistance at the $270 level.
3. MCD (McDonald's)
Earnings Preview
McDonald's (MCD) is expected to report earnings of $2.61 per share, down from $2.65 per share in the same period last year. Revenue is projected to be $6.03 billion, up from $6.01 billion in the previous year's quarter.
The company has been facing challenges from rising costs and increased competition. However, analysts believe that MCD may be able to weather these headwinds with its strong brand presence and its focus on value-oriented menu items.
Technical Analysis
MCD's stock has been in a downtrend since reaching a high of $270.09 in January 2023. The stock is currently trading at $248.50, and it could fall further if it fails to hold above the $245 level.
4. WMT (Walmart)
Earnings Preview
Walmart (WMT) is expected to report earnings of $1.60 per share, down from $1.62 per share in the same period last year. Revenue is projected to be $152.06 billion, up from $148.84 billion in the previous year's quarter.
The company has been benefiting from the growth of its e-commerce business, as well as its focus on cost-cutting initiatives. However, analysts are concerned about the impact of the global economic slowdown on Walmart's sales.
Technical Analysis
WMT's stock has been in a downtrend since reaching a high of $160.89 in January 2023. The stock is currently trading at $146.25, and it could face resistance at the $148 level.
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