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Nov. 4, 2019, 8:00 a.m. EST

The earnings recession looks destined to continue as Disney and the rookies take stage

Earnings Watch: Peloton and Uber will join health-care companies, videogame publishers and a whole lot of internet stocks

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By Jeremy C. Owens, MarketWatch , Emily Bary

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Full earnings preview: Brace for more quarterly losses at Uber

Newly public RealReal Inc. /zigman2/quotes/212846592/composite REAL -7.29%  will also report Monday afternoon, while Cloudflare Inc. /zigman2/quotes/214109260/composite NET -0.77%   reports earnings for the first time since its September IPO.

How healthy is the health sector?

One of the busiest sectors of the week will be health care and pharmaceuticals, highlighted by CVS Health Corp. /zigman2/quotes/209664499/composite CVS -5.30%  , which continues to find its footing after the transformational acquisition of insurer Aetna Inc. After spooking investors with a downbeat forecast early in the year, CVS has managed to perform better than its projections, and the stock is up more than 21% in the past three months after strong quarterly results released in August. The company rolled out its CarePass membership program during the calendar third quarter, so early results from that Amazon Prime-like offering will be watched closely.

Other health and drug companies reporting in the coming week include Humana Inc. /zigman2/quotes/203095337/composite HUM -4.36%  , Mylan NV /zigman2/quotes/209413137/composite MYL -4.40%  , Allergan PLC /zigman2/quotes/206377386/composite AGN -1.90%  , Tenet Healthcare Corp. /zigman2/quotes/207964487/composite THC -3.81%  and Bausch Health Cos. Inc. /zigman2/quotes/207248436/composite BHC -7.86%  

Game time

Thursday promises dueling videogame earnings, with Take-Two Interactive Software Inc. /zigman2/quotes/204008930/composite TTWO -1.49%  and Activision Blizzard Inc. /zigman2/quotes/200717283/composite ATVI -1.75%  scheduled to report. Activision recently disclosed that its “Call of Duty: Modern Warfare” title had more than $600 million in sell-through during its first three days of availability, marking the best performance for a “Call of Duty” game in the current console generation. Cowen & Co. analysts caution that “launch window upside” doesn’t necessarily indicate that a title will keep up the strong momentum going forward, so Activision’s sales outlook on its Thursday afternoon call will be a focal point. Take-Two will start selling its biggest game of the year, “Red Dead Redemption 2,” for personal computers next week, a couple of days before its earnings report, so expect to hear more about what that move could bring.

The rest

- Paying up: Square Inc.’s /zigman2/quotes/205989440/composite SQ +3.55%  investment strategy will be an area of focus when the payments company reports on Wednesday afternoon, now that the company’s acquisition of Caviar has closed. Investors will also be looking for more commentary on the company’s recent move to add stock trading on its Cash app. Other payments names on the docket include Fiserv Inc. /zigman2/quotes/204817680/composite FISV -3.84%  and Fidelity National Information Services Inc. /zigman2/quotes/207166559/composite FIS -3.50%  , two of the three fintech companies that conducted megamergers this year. Their reports come after the third of the “deal stocks,” Global Payments Inc. /zigman2/quotes/201234787/composite GPN -3.11%  , raised its synergy targets around its own acquisition.

- Who’s on top at Under Armor? : Under Armour Inc.’s /zigman2/quotes/208967132/composite UA -3.76%  Monday morning report will be the first since the company announced that Chief Executive Kevin Plank will step down at the end of the year. Pivotal Research Group is looking for “some discussion of succession” during Under Armour’s earnings call, which comes amid doubts about the company’s brand strength. Revenue is expected to drop for the third quarter, though Pivotal says the company admittedly faces a “low sales bar.”

- On the web: Travel websites will detail their hopes for the holiday season, as Booking Holdings Inc. /zigman2/quotes/203576210/composite BKNG -1.09%  , Expedia Group Inc. /zigman2/quotes/202291990/composite EXPE -2.45%  , TripAdvisor Inc. /zigman2/quotes/206118480/composite TRIP -3.77%  and Trivago NV /zigman2/quotes/205613957/composite TRVG -2.08%  all report. Zillow Inc. /zigman2/quotes/204413973/composite Z -4.31%  and Redfin Inc. /zigman2/quotes/203726414/composite RDFN -5.37%  will detail how real-estate is working online, while Stamps.com Inc. /zigman2/quotes/202777086/composite STMP -2.95%  will continue to try to battle back from its loss of an exclusive deal with the U.S. Postal Service. Match Group Inc. /zigman2/quotes/207178501/composite MTCH -1.88%  will report for the first time since Facebook Inc. launched its online-dating service, along with the rest of the IAC/Interactive Corp. /zigman2/quotes/205118493/composite IAC -3.34%  menagerie. Yelp Inc. /zigman2/quotes/201334325/composite YELP -4.68%  , Dropbox Inc. /zigman2/quotes/205896836/composite DBX -2.77%  , Baidu Inc. /zigman2/quotes/209050136/composite BIDU -2.94%  and Groupon Inc. /zigman2/quotes/207356672/composite GRPN -5.71%  are also expected to report.

- More chips : After reports from Advanced Micro Devices Inc. /zigman2/quotes/208144392/composite AMD -7.33%  and chip-equipment suppliers buoyed hopes for a semiconductor turnaround, Qualcomm Corp. /zigman2/quotes/206679220/composite QCOM -4.67%  and Microchip Technology Inc. /zigman2/quotes/208326291/composite MCHP -5.16%  will report earnings.

/zigman2/quotes/212846592/composite
US : U.S.: Nasdaq
$ 13.86
-1.09 -7.29%
Volume: 2.98M
Feb. 27, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.28 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/214109260/composite
US : U.S.: NYSE
$ 21.94
-0.17 -0.77%
Volume: 5.35M
Feb. 27, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.64 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209664499/composite
US : U.S.: NYSE
$ 59.33
-3.32 -5.30%
Volume: 22.06M
Feb. 27, 2020 6:30p
P/E Ratio
11.67
Dividend Yield
3.37%
Market Cap
$81.71 billion
Rev. per Employee
$659,586
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/zigman2/quotes/203095337/composite
US : U.S.: NYSE
$ 314.33
-14.34 -4.36%
Volume: 1.48M
Feb. 27, 2020 6:30p
P/E Ratio
15.66
Dividend Yield
0.80%
Market Cap
$43.42 billion
Rev. per Employee
$1.31M
loading...
/zigman2/quotes/209413137/composite
US : U.S.: Nasdaq
$ 18.68
-0.86 -4.40%
Volume: 7.67M
Feb. 27, 2020 4:00p
P/E Ratio
213.00
Dividend Yield
N/A
Market Cap
$10.09 billion
Rev. per Employee
$326,506
loading...
/zigman2/quotes/206377386/composite
US : U.S.: NYSE
$ 189.52
-3.67 -1.90%
Volume: 4.77M
Feb. 27, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
1.56%
Market Cap
$63.42 billion
Rev. per Employee
$934,166
loading...
/zigman2/quotes/207964487/composite
US : U.S.: NYSE
$ 26.74
-1.06 -3.81%
Volume: 2.30M
Feb. 27, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.90 billion
Rev. per Employee
$158,554
loading...
/zigman2/quotes/207248436/composite
US : U.S.: NYSE
$ 22.52
-1.92 -7.86%
Volume: 7.96M
Feb. 27, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$8.62 billion
Rev. per Employee
$397,156
loading...
/zigman2/quotes/204008930/composite
US : U.S.: Nasdaq
$ 107.84
-1.63 -1.49%
Volume: 2.50M
Feb. 27, 2020 4:00p
P/E Ratio
36.29
Dividend Yield
N/A
Market Cap
$12.42 billion
Rev. per Employee
$574,279
loading...
/zigman2/quotes/200717283/composite
US : U.S.: Nasdaq
$ 58.33
-1.04 -1.75%
Volume: 9.01M
Feb. 27, 2020 4:00p
P/E Ratio
29.83
Dividend Yield
0.70%
Market Cap
$45.61 billion
Rev. per Employee
$756,869
loading...
/zigman2/quotes/205989440/composite
US : U.S.: NYSE
$ 79.31
+2.72 +3.55%
Volume: 35.91M
Feb. 27, 2020 6:30p
P/E Ratio
104.14
Dividend Yield
N/A
Market Cap
$32.40 billion
Rev. per Employee
$984,824
loading...
/zigman2/quotes/204817680/composite
US : U.S.: Nasdaq
$ 108.54
-4.33 -3.84%
Volume: 6.82M
Feb. 27, 2020 4:00p
P/E Ratio
60.00
Dividend Yield
N/A
Market Cap
$76.74 billion
Rev. per Employee
$242,625
loading...
/zigman2/quotes/207166559/composite
US : U.S.: NYSE
$ 138.87
-5.03 -3.50%
Volume: 4.39M
Feb. 27, 2020 6:30p
P/E Ratio
144.43
Dividend Yield
1.01%
Market Cap
$88.69 billion
Rev. per Employee
$179,213
loading...
/zigman2/quotes/201234787/composite
US : U.S.: NYSE
$ 183.75
-5.90 -3.11%
Volume: 3.42M
Feb. 27, 2020 6:30p
P/E Ratio
78.02
Dividend Yield
0.42%
Market Cap
$56.82 billion
Rev. per Employee
$306,033
loading...
/zigman2/quotes/208967132/composite
US : U.S.: NYSE
$ 12.55
-0.49 -3.76%
Volume: 5.85M
Feb. 27, 2020 6:30p
P/E Ratio
62.04
Dividend Yield
N/A
Market Cap
$5.89 billion
Rev. per Employee
$346,212
loading...
/zigman2/quotes/203576210/composite
US : U.S.: Nasdaq
$ 1,659.85
-18.35 -1.09%
Volume: 1.34M
Feb. 27, 2020 4:00p
P/E Ratio
14.75
Dividend Yield
N/A
Market Cap
$70.24 billion
Rev. per Employee
$592,939
loading...
/zigman2/quotes/202291990/composite
US : U.S.: Nasdaq
$ 98.71
-2.48 -2.45%
Volume: 6.15M
Feb. 27, 2020 4:00p
P/E Ratio
26.37
Dividend Yield
1.38%
Market Cap
$14.17 billion
Rev. per Employee
$458,082
loading...
/zigman2/quotes/206118480/composite
US : U.S.: Nasdaq
$ 22.72
-0.89 -3.77%
Volume: 5.72M
Feb. 27, 2020 4:00p
P/E Ratio
25.56
Dividend Yield
0.00%
Market Cap
$3.21 billion
Rev. per Employee
$479,798
loading...
/zigman2/quotes/205613957/composite
US : U.S.: Nasdaq
$ 1.88
-0.04 -2.08%
Volume: 277,044
Feb. 27, 2020 4:00p
P/E Ratio
31.65
Dividend Yield
N/A
Market Cap
$97.57 million
Rev. per Employee
$797,086
loading...
/zigman2/quotes/204413973/composite
US : U.S.: Nasdaq
$ 54.62
-2.46 -4.31%
Volume: 3.91M
Feb. 27, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$11.95 billion
Rev. per Employee
$307,554
loading...
/zigman2/quotes/203726414/composite
US : U.S.: Nasdaq
$ 27.69
-1.57 -5.37%
Volume: 1.67M
Feb. 27, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.72 billion
Rev. per Employee
$162,686
loading...
/zigman2/quotes/202777086/composite
US : U.S.: Nasdaq
$ 143.61
-4.36 -2.95%
Volume: 798,222
Feb. 27, 2020 4:00p
P/E Ratio
43.33
Dividend Yield
N/A
Market Cap
$2.53 billion
Rev. per Employee
$497,820
loading...
/zigman2/quotes/207178501/composite
US : U.S.: Nasdaq
$ 64.80
-1.24 -1.88%
Volume: 3.19M
Feb. 27, 2020 4:00p
P/E Ratio
35.81
Dividend Yield
N/A
Market Cap
$18.52 billion
Rev. per Employee
$1.15M
loading...
/zigman2/quotes/205118493/composite
US : U.S.: Nasdaq
$ 202.22
-6.98 -3.34%
Volume: 1.45M
Feb. 27, 2020 4:00p
P/E Ratio
44.91
Dividend Yield
N/A
Market Cap
$17.70 billion
Rev. per Employee
$546,525
loading...
/zigman2/quotes/201334325/composite
US : U.S.: NYSE
$ 31.40
-1.54 -4.68%
Volume: 1.46M
Feb. 27, 2020 6:30p
P/E Ratio
57.17
Dividend Yield
N/A
Market Cap
$2.31 billion
Rev. per Employee
$156,347
loading...
/zigman2/quotes/205896836/composite
US : U.S.: Nasdaq
$ 19.33
-0.55 -2.77%
Volume: 6.09M
Feb. 27, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$8.34 billion
Rev. per Employee
$599,096
loading...
/zigman2/quotes/209050136/composite
US : U.S.: Nasdaq
$ 119.91
-3.63 -2.94%
Volume: 6.67M
Feb. 27, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$33.91 billion
Rev. per Employee
$365,691
loading...
/zigman2/quotes/207356672/composite
US : U.S.: Nasdaq
$ 1.32
-0.08 -5.71%
Volume: 21.41M
Feb. 27, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$792.14 million
Rev. per Employee
$400,965
loading...
/zigman2/quotes/208144392/composite
US : U.S.: Nasdaq
$ 44.01
-3.48 -7.33%
Volume: 106.10M
Feb. 27, 2020 4:00p
P/E Ratio
148.33
Dividend Yield
N/A
Market Cap
$55.55 billion
Rev. per Employee
$641,089
loading...
/zigman2/quotes/206679220/composite
US : U.S.: Nasdaq
$ 75.94
-3.72 -4.67%
Volume: 17.88M
Feb. 27, 2020 4:00p
P/E Ratio
21.60
Dividend Yield
3.27%
Market Cap
$91.05 billion
Rev. per Employee
$607,486
loading...
/zigman2/quotes/208326291/composite
US : U.S.: Nasdaq
$ 89.88
-4.89 -5.16%
Volume: 4.12M
Feb. 27, 2020 4:00p
P/E Ratio
35.51
Dividend Yield
1.63%
Market Cap
$22.70 billion
Rev. per Employee
$352,817
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Jeremy Owens is MarketWatch’s technology editor and San Francisco bureau chief. You can follow him on Twitter @jowens510. Emily Bary is a MarketWatch reporter based in New York.

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