Memorial Day Shortens Week in U.S.

Monday

U.S.

Markets closed for Memorial Day

Tuesday

Economic lookahead

Personal Income and Outlays (Apr.)

S&P Corelogic Case-Shiller HPI (Mar.)

Consumer Confidence (May)

Featured Earnings

American Woodmark Corporation (NASDAQ: AMWD) (Q4) EPS estimates of $1.00, compared to 86 cents in prior-year quarter.

Multi-Color Corporation (NASDAQ: LABL) (Q4) EPS estimates of 86 cents, compared to 70 cents in prior-year quarter. In April, the company declared a cash dividend of five cents per common share, payable June 1, to shareholders of record at the close of business on May 15.

Quanex Building Products Corporation (NYSE: NX) EPS estimates of six cents, compared to 10 cents in prior-year quarter.

Canada

Industrial Product Price Index (April) This index rose 0.8% in March, mainly due to higher prices for motorized and recreational vehicles and primary non-ferrous metal products.

Raw Materials Price Index (April) This index decreased 1.6%, primarily due to lower prices for crude energy products.

Featured Earnings

Bank of Nova Scotia (T.BNS) (Q2) EPS estimates of $1.56, compared to $1.40 in prior-year quarter.


Wednesday

U.S.

Economic lookahead

Redbook (Weekly)

EIA Petroleum Report (May 16-22)

Chicago Purchasing Managers Index (May)

Pending Home Sales Index (April)

Beige Book

Farm Prices (May)

Featured Earnings

Analog Devices Inc. (NASDAQ: ADI) (Q1) EPS estimates of 85 cents, compared to 64 cents in prior-year quarter.

Hewlett Packard Enterprise Company (NYSE: HPE) (Q2) EPS estimates of 35 cents, compared to 42 cents in prior-year quarter. In mid-May, Hewlett Packard introduced the world’s largest single-memory computer, the latest milestone in The Machine research project. The Machine, which is the largest R&D program in the history of the company, is aimed at delivering a new paradigm called Memory-Driven Computing – an architecture custom-built for the Big Data era.

Michael Kors Holdings Limited (NYSE: KORS) (Q4) EPS estimates of 70 cents, compared to 98 cents in prior-year quarter.

Canada

Economic lookahead

Gross Domestic Product (Mar.) GDP was unchanged in February following three months of growth.

Featured Earnings

Descartes Systems Group Inc. (T.DSG) (Q1) EPS estimates of 10 cents, compared to eight cents in prior-year quarter. In mid-May, Descartes announced that it has acquired ShipRush, a leading provider of e-commerce multi-carrier parcel shipping solutions for small-to medium-sized businesses

National Bank of Canada (T.NA) (Q2) EPS estimates of $1.26, compared to 60 cents in prior-year quarter. In mid-May, National and the Institute for Data Valorization formalized a partnership to support the development of Montreal's data science ecosystem. Through this agreement, the Bank and the Institute will promote innovation in the financial services industry, increase networking between universities and the private sector in the field of artificial intelligence, and encourage philanthropic data analysis initiatives.

Laurentian Bank of Canada (T.LB) (Q2) EPS estimates of $1.36, compared to $1.46 in prior-year quarter. Laurentian announced in mid-May that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc., BMO Capital Markets and RBC Capital Markets pursuant to which the Underwriters have agreed to buy, on a bought deal basis, from Laurentian Bank 3,880,000 subscription receipts at a price of $51.70 per Subscription Receipt for total gross proceeds of $200,596,000

CAE Inc. (T.CAE) (Q4) EPS estimates of 30 cents, compared to 27 cents in prior-year quarter.


Thursday

U.S.

Economic lookahead

Motor Vehicle Sales

Chain Store Sales

ADP Employment Report (May)

Productivity and Costs (Q1, revised)

PMI Manufacturing Index (May)

Institute for Supply Management Manufacturing Index (May)

Construction Spending (April)

Jobless Claims (May 23-29)

Federal Balance Sheet

Money Supply

Featured Earnings

Broadcom Limited (NASDAQ: AVGO) (Q1) EPS estimates of $3.02, compared to $2.13 in the prior-year quarter. In mid-May, AirTies a leading international provider of premium in-home wireless systems, announced a strategic alliance with Broadcom to provide carrier grade, whole-home Wi-Fi solutions to service providers worldwide.

Dollar General Corporation (NYSE: DG) (Q1) EPS estimates of 99 cents, compared to $1.03 in the prior-year quarter.

lululemon athletica inc. (NASDAQ: LULU) (Q1) EPS estimates of 28 cents, compared to 30 cents in the prior-year quarter.

Five Below Inc. (NASDAQ: FIVE) (Q1) EPS estimates of 14 cents, compared to 12 cents in the prior-year quarter. Appropriately, on May 5, Five Below opened five new Florida stores in one day, in Bradenton, Sarasota, Royal Palm Beach, Clearwater and Kissimmee, bringing its grand total to 555 stores.

Tech Data Corporation (TECD) (Q1) EPS estimates of $1.37, compared to $1.05 in the prior-year quarter. This week, Tech Data announced that its Technology Solutions business, formerly a division of Avnet and now part of Tech Data, had added Microsoft Azure to its award-winning Cloud Marketplace.

Canada

Featured Earnings

Canaccord Genuity Group Inc. (T.CF) (Q4) EPS estimates for gain of 12 cents, compared to a loss of six cents in the prior-year quarter.

Saputo Inc. (T.SAP) (Q4) EPS estimates of 49 cents, compared to 41 cents in the prior-year quarter.

Canadian Western Bank (T.CWB) (Q2) EPS estimates of 57 cents, compared to 41 cents in the prior-year quarter.


Friday

U.S.

Economic lookahead

Featured Earnings

Employment Situation (May)

International Trade (April)

Canada

Economic lookahead

Labour Force Survey (May) Employment was little changed in April, while the unemployment rate declined 0.2 percentage points to 6.5%, the lowest rate since October 2008.

Canadian international merchandise trade (April) Canada's merchandise trade balance with the world posted a $135-million deficit in March. Exports rose 3.8% while imports were up 1.7%.