Stocks have endured a tumultuous week as fears over rate hikes in China and a debt crisis in Ireland sent equities into a frenzy. Markets were able to claw back some of the lost ground in trading yesterday based on news that Ireland may be close to accepting a bailout from the European Union and the IMF. Still, storm clouds loom over the region, and world equity markets will likely take their cues from events in Europe for the next few days. With all of the turmoil occurring overseas, it may be easy to overlook key data releases at home, such as earnings reports that can drive the market even in these uncertain times [see also Look Out Below! Muni Bond ETFs in Freefall].
Today, before market open, H.J. Heinz Company
Analysts estimate that the firm will haul in EPS of $0.76 per share, with revenues topping the $2.5 billion mark. Heinz has beat Street estimates for the last two fiscal quarters, and hopes to continue that trend later today. But with commodity prices spiking this year, Heinz may have to raise the prices on some of their products to maintain profitability. Yesterday saw J. M. Smucker Company announce that soaring commodity prices are starting to cut into revenues, and may eventually lead to a price increase on a number of popular products. With commodities rising across the board, Heinz may be faced with a similar scenario, so a positive earnings release could be overcast by a bleak outlook [see also Warning: Commodity Surge Could Sink Consumer Staples ETFs].
With this earnings announcement on tap, the PowerShares Dynamic Food & Beverage
[For more ETFs to watch, make sure to sign up for our free ETF newsletter.]
More from ETFdb.com:
- PowerShares to Reshuffle ETF Indexes
- Smartphone ETF on the Horizon?
- This Week in ETFs: June 25th Edition
Disclosure: Photo courtesy of Cynthia Closkey. No positions at time of writing.
ETF Database is not an investment advisor, and any content published by ETF Database does not constitute individual investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities. From time to time, issuers of exchange-traded products mentioned herein may place paid advertisements with ETF Database. All content on ETF Database is produced independently of any advertising relationships. Read the full disclaimer here.
Coca-Cola is a Motley Fool Inside Value recommendation. Starbucks is a Motley Fool Stock Advisor pick. HJ Heinz and Coca-Cola are Motley Fool Income Investor picks. The Fool owns shares of Coca-Cola. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.