Outrageous Predictions
Executive Summary: Outrageous Predictions 2026
Saxo Group
Read Saxo's Outrageous Predictions for 2026, our latest batch of low probability, but high impact ev...
You can access both of our platforms from a single Saxo account.
Earnings Watch: Nike, FedEx, and Carnival
Peter Garnry
Chief Investment Strategist
Summary: Our earnings focus next week is Nike, FedEx, and Carnival, and with recent sell-side analyst upgrades on Nike the pressure is on to deliver on the outlook for 2023. For FedEx the situation is completely opposite with revenue expectations having come down to zero growth over the two next quarters suggesting a hangover for the logistics company following the boom days of the pandemic. In today's earnings watch we are also taking a look Adobe earnings which were releases last night and positively surprised investors.
Can Nike deliver on recent rise in expectations?
The Q3 earnings season is done and we find ourselves in the transition period to the Q4 figures which will begin to roll in around mid-January. In the meantime, earnings releases are still being released from companies which fiscal year does not following the calendar year. Next week’s most important earnings release is Nike which has recently seen several sell-side analysts increasing their price target and betting on margin recovery in 2023. Nike report FY23 Q2 (ending 30 November) on Tuesday with revenue expected at $12.6bn up 11% y/y, but it is really the outlook for the holiday season quarter ending in February 2023 that is the most interesting. Is the consumer still keeping up its spending on discretionary items such as those Nike is selling. Analysts covering Nike seem more optimistic on 2023 that the US banking CEOs on the industry conference last week suggesting US consumer spending is coming down.
The list below shows the most important earnings releases next week. Except from Nike earnings described above, FedEx and Carnival earnings are also key to watch. FedEx is now on the backside of the pandemic boom in logistics and expectations for revenue growth has collapsed to zero revenue growth over the next two quarters which in real terms is very low expectations. This means that the bar is set low for FedEx when it reports earnings on Tuesday. The cruise line operator Carnival is reporting earnings on Wednesday and is still riding the strong rebound wave from the pandemic lows with revenue growth expected at 206% y/y for the quarter that ended in November.
- Monday: HEICO
- Tuesday: Nike, FedEx, General Mills, FactSet Research Systems
- Wednesday: Toro, Micron Technology, Cintas, Carnival
- Thursday: Paychex, CarMax
- Friday: Nitori
Adobe sounds confident on Figma acquisition
Adobe, the software maker of creative content creation, reported FY22 Q4 (ending 2 December) revenue of $4.5bn which was in line with estimates and adjusted EPS of $3.60 vs est. $3.50 was better than expected. The recent cost reductions have already improved profitability relative to consensus so that was a positive thing for investors. However, the 2023 revenue outlook at $19.2bn was a bit below estimates, so why were shares up 5% in extended trading when overall results and the outlook were mixed at best? Management sounded very confident on its acquisition of Figma, which is a fast growing competitor, which investors believe is crucial for Adobe to maintain its long-term growth prospects. Adobe expects the Figma acquisition to go through in 2023. Latest Market Insights
Outrageous Predictions 2026
-
-
Outrageous Predictions
A Fortune 500 company names an AI model as CEO
Charu Chanana
Chief Investment Strategist
Can AI be trusted to take over in the boardroom? With the right algorithms and balanced human oversi... -
Outrageous Predictions
Despite concerns, U.S. 2026 mid-term elections proceed smoothly
John J. Hardy
Global Head of Macro Strategy
In spite of outstanding threats to the American democratic process, the US midterms come and go cord... -
Outrageous Predictions
Dollar dominance challenged by Beijing’s golden yuan
Charu Chanana
Chief Investment Strategist
Beijing does an end-run around the US dollar, setting up a framework for settling trade in a neutral... -
Outrageous Predictions
Obesity drugs for everyone – even for pets
Jacob Falkencrone
Global Head of Investment Strategy
The availability of GLP-1 drugs in pill form makes them ubiquitous, shrinking waistlines, even for p... -
Outrageous Predictions
Dumb AI triggers trillion-dollar clean-up
Jacob Falkencrone
Global Head of Investment Strategy
Agentic AI systems are deployed across all sectors, and after a solid start, mistakes trigger a tril... -
Outrageous Predictions
Quantum leap Q-Day arrives early, crashing crypto and destabilizing world finance
Neil Wilson
Investor Content Strategist
A quantum computer cracks today’s digital security, bringing enough chaos with it that Bitcoin crash... -
Outrageous Predictions
SpaceX announces an IPO, supercharging extraterrestrial markets
John J. Hardy
Global Head of Macro Strategy
Financial markets go into orbit, to the moon and beyond as SpaceX expands rocket launches by orders-... -
Outrageous Predictions
Taylor Swift-Kelce wedding spikes global growth
John J. Hardy
Global Head of Macro Strategy
Next year’s most anticipated wedding inspires Gen Z to drop the doomscrolling and dial up the real w... -
Outrageous Predictions
China unleashes CNY 50 trillion stimulus to reflate its economy
Charu Chanana
Chief Investment Strategist
Having created history’s most epic debt bubble, China boldly bets that fiscal stimulus to the tune o...