Smaller Retailers Poised for Big Swings as Earnings Season Heats Up
The consumer sector is next up on Wall Street's earnings calendar, as retail giants Target (NYSE:TGT), Walmart (NYSE:WMT), Home Depot (NYSE:HD) and Lowe's Companies (NYSE:LOW) report their results in the coming days.
But it's not these household names that are expected to swing the most this week. According to Benzinga Pro, a cluster of smaller companies is poised for significant volatility, with implied moves ranging from 9% to 17%.
The top five stocks by implied move are Wolfspeed (NYSE:WOLF), Coty (NYSE:COTY), BILL Holdings (NYSE:BILL), Mercury Systems (NASDAQ:MRCY) and ScanSource (NASDAQ:SCSC). These companies will report their earnings after the close on August 19.
Wolfspeed, in particular, carries the widest expected swing of the week at 17.26%, followed closely by Coty with a move of 17%.