Though Friday was a bit rough for the stock market but overall the last week was strong enough and investors are planning to bring their foot back to this recovering market. Though the DOW and S&P 500 both gained over 10% this week, the market remains in the bear territory as they are below by 20% of their recent high. The containment of Coronavirus and numerous earning reports are about to come this week. However, investors will be keenly watching McCormick (NYSE: MKC), Constellation Brands (NYSE: STZ) and CarMax
The supply chain of McCormick
The flavoring giant McCormick will reveal its reports this week and it is expected that just like other consumer-facing businesses this will also show a sharp decline. On the other hand, the company might have benefitted from this stay at home effort as people are cooking more on their own. The shelves of supermarkets are getting empty at a quick pace and hence the supply chain needs to be maintained as their sales take a huge climb now. Investors should keenly wait to see what pans they make to continue seamless selling of their products from the market.
Release plans of the Constellation Brands
The earnings report of the company that is about to come on Friday is a big reason to worry for the investors. The Wine, spirits and beer segment that has fuelled much of its earning in the last 5 years is facing a slump due to the Coronavirus outbreak as people are not going to bars and pubs. How the company plans to manage the slumping demand at pubs and bars and also prepares their busy spring release schedule will be something to watch out for the investors.
Online Business of CarMax
Bad news is awaited from CarMax as they come up with their earnings reports. As customers are all at homes, the car retailer will face a stiff slump. At such a moment of crisis in the US, customers are likely to put a hold on any major investments such as cars. However, as a countermeasure, CarMax is focusing on taking their entire business online in its key market areas. All financing and paperwork will be done digitally and then the car will be delivered to the owner’s doorstep. CarMax previously stated that they want to roll out their online service by the end of the fiscal year of 2020. On Thursday, the management of the company will confirm their progress on the target set. All those who are invested in these stocks need to keep a close watch as each of the important news rolls out this week itself. We hope to see a brighter market soon and more liquidity will also follow!