#ForexChief #nike #GeneralMills #nyse #stocks #StockExchange #AdobeSystems #nasdaq⠀
📊 Three favourites for three weeks: Nike, Adobe Systems, General Mills⠀
🔔 Investors will have a few more unstable weeks in the stock markets. Publication of fresh quarterly reports allows you to assess the state of consumer demand and the impact of disruptions in the supply chain on the activities of large corporations.
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Below are three mega-cap stocks to look out for.⠀
Nike (NYSE: NKE)
The latest report came in better than expected, with the world's largest sportswear, footwear and accessories brand reporting revenue of $0.87 per share on sales of $10.87 billion.
NKE stock has been hit hard by Omicron's COVID-related issues, with factory shutdowns in Vietnam hurting sales in China and Asia. Demand in Asia remains weak, but sales performance in North America and Europe is already offsetting losses.
The recovery process is quite active, and short-term growth target is in 147-150 zone.
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Adobe Systems (NASDAQ: ADBE)Report showed EPS of $3.37 and sales of $4.26 billion, slightly above the forecast. The company intends to accelerate growth, expanding the range of business offerings and software for creativity and online content.
Short-term growth target is in 500-515 zone, the global target is 555, or at level of beginning of year.
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General Mills (NYSE: GIS)Manufacturer of Cheerios cereal, Yoplait yoghurt and muesli bars Nature Valley, warned that its U.S. shipments would fall well behind retail sales due to severe raw material shortages. It is difficult for GIS to restructure its portfolio as consumers rapidly change their eating habits and prefer fresher, more natural and less sugary products. However, the report showed earnings per share of $0.81 on sales of $4.63 billion, meaning the company did not allow a sharp decline in financial performance.
We are looking for a short-term target in range of 65-67, a global one in zone of 69-70 (current maximum of year).
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Profits to y’all!