The Week Ahead on Wall Street

Economic News

Today, factory orders for August are released by the US Commerce Department. New orders increased in July despite supply-chain constraints and shipping delays. Investors will be paying close attention to see if those issues hurt factory orders in August.

The ISM Services Index for September is published tomorrow. This data point tracks the overall economic conditions for the non-manufacturing sector. In August the Index came in at 61.7%. A reading over 50% means the non-manufacturing sector is expanding.

The ADP payroll for September is released on Wednesday, which tracks private payrolls. In August, private payrolls rose by 374,000 which was far below the 600,000 economists were forecasting. Most of the new jobs were in the leisure and hospitality industries. It will be interesting to see if private payrolls improved in September.

Initial and existing unemployment claims for the previous week are released on Thursday. Last week new unemployment claims rose to 362,000 which is more than the 335,000 economists were expecting.

Friday, be on the lookout for the unemployment rate for September. Job growth in August was disappointing, with only 235,000 jobs added. Economists expected 720,000 new positions. September’s number will give investors a clearer idea of where the labor market is heading.

Earnings

Today, there are no major corporate earnings announcements scheduled.

Tomorrow, be on the lookout for Comtech Telecommunications (CMTL) to report quarterly earnings. The maker of emergency dispatch systems and satellite communications equipment is facing a proxy challenge from Outerbridge Capital Management, an activist investment firm. Outerbridge, which is seeking three seats on the board, cited concerns about the stock’s underperformance compared to the Russell 2000 Index for its proxy fight.

On Wednesday, Levi Strauss & Co. (LEVI) reports quarterly earnings. The jeans and apparel maker‘s stock has not been surging like some of its rivals, but it is growing at a healthy clip. Revenue is expected to be up 29% year-over-year in 2021. A big growth driver for the company is ecommerce, which only makes up 4% of its total revenue right now. Investors will be paying close attention to what Levi Strauss has planned on that front.

On Thursday, be on the lookout for Conagra Brands (CAG) to report quarterly earnings. The consumer foods company has been enjoying success with Gardein, its plant-based alternative meat brand. Sales in retail stores came in at $170 million for the year through the end of June, which is up 33.5% compared to 2019. It will be interesting to hear what Conagra has to say about its plant-based meat category when it reports earnings.

Also Thursday, Tilray (TLRY), the cannabis research, cultivation, processing, and distribution company, reports quarterly earnings. A judge recently tossed out a lawsuit which accused the company of knowingly overstating the value of a marketing agreement with Authentic Brands Group (AUTH). With that win under its belt, investors will want to hear about Tilray’s outlook.

On Friday, be on the lookout for earnings from Bryna Technologies (BYRN). In early September, the self-defense products maker announced preliminary results for its third quarter. Those results included expected revenue of $8.7 million, which is an increase of 107% compared to last year. The growth is being driven by sales to law enforcement, dealers and distributors, and international customers. The company is also seeing an uptick in ecommerce sales. Investors will be paying attention to hear if momentum is continuing in the fourth quarter.

The Week Ahead at SoFi

This week’s webinars include tips on coming out and sharing your authentic selves in the workplace, plus understanding the FAFSA®. Also, tune in for Your Next Dollar. Save your virtual seat!

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